Trulioo, a mobile Identity Verification company based in Canada has launched its Digital Identity Verification Service for Nigeria and Ghana. This will help in the stride to promote financial inclusion and create secure digital identities for Africans.
The inability to access finance in Africa has been a major issue affecting the growth of businesses in the continent. It is pertinent to note that about 2 billion people in Africa do not have access to formal financial services. Nearly 50% of the population is unbanked.
The unbanked population, poor business record and identification loss makes it difficult for financial institutions to issue credits to startups. It, therefore, becomes imperative for Africans to have a platform where identity can be verified online.
Trulioo will resolve these issues through its mobile digital web identify verification platform. The platform offers 2 digital identity verification model. This includes real-time facial recognition API and documented verification.
The models will be used to bring the underbanked populations into the digital economy. It will also enable financial institutions to access user information seamlessly. This expansion will enable Africans with smartphones to access financial services seamlessly.
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