2022 is a year to pull out all identity verification companies as the digital transformation keeps unfolding, innovations are at a boom, cybercriminals are getting smarter and identity verification companies are not relenting.
One of such companies includes Nigeria’s CREDEQUiTY helping businesses understand their customers better and enabling data security and verification for both individuals and corporations.
A report by MarketWatch revealed that the increasing number of identity threats related to fraud has led to significant growth in the Identity Verification Market and the rise of data breaches is the key factor contributing to market growth. Also, the Identity Verification Market is expected to project a notable 15.7% in 2030, surpassing $17.63 billion in the same year, from $7.2 billion in 2018 at a 15.7% between 2019 to 2030.
But the fact remains, identity theft has to be defeated! Companies fighting to ensure this, were listed in a previous report by Techeconomy.ng but there are no limits.
Established in 2019, CREDEQUiTY is on a mission to ensure the growth of Africa’s economy through the provision of localised, data-based, digital, risk assessment, affordability and identity verification tools which would ultimately enhance the way Africans exchange value.
Built by a team of technology product strategists, data professionals and software developers with over 30 years combined experience in fintech, banking, mobile telecoms and consumer technology, CREDEQUiTY was co-founded by Tunde Leye and Zainab Baruwa-Abiola.
The ID verification startup is leveraged by recognised companies including Paga, Polaris Bank, Patricia, FBN insurance, FairMoney, BetFarm, GeroCare, PalmPay, among others. In numbers, CREDEQUiTY affirms to process 8,000,000 verifications, and has approximately 4,000,000 unique verified consumers.
Via a single API, CREDEQUiTY provides solutions around identity verification, KYC processes, credit risk, financial capacity, address verification and targeted marketing including airtime, energy, utilities, cable, travel, betting, shopping among others, for about 90,000,000 individuals and corporates such as NIMC, CAC, FRSC, Card Processors, SIM Registrars, Voter Registrars, MFB Partners and several others.