Ideco calls on South African businesses to treat digital identity as a human right, not just a compliance checkbox.
As the world marked International Identity Day under the theme ‘My Identity.
My Umbrella’, Ideco warned that millions of Africans – and many South Africans – remain invisible in the digital economy.
This includes ghost workers, social grant fraud, and widespread SIM card identity scams that drain public funds and damage trust.
International Identity Day highlights United Nations Sustainable Development Goal 16.9, which aims to provide legal identity for all by 2030.
Yet over 1.1 billion people worldwide still lack an official identity, cutting them off from education, finance, healthcare, and legal protection.
“Like an umbrella shielding you from the rain, a secure identity protects people from fraud, exploitation and financial loss – while helping businesses close dangerous security gaps. In a world where everything is going digital, having no verifiable identity is the same as having no voice. A trusted identity doesn’t only prevent fraud, it unlocks access to jobs, healthcare, education and financial services. It’s the foundation of economic participation, and without it, we all lose,” says Marius Coetzee, CEO of Ideco.
The digital identity gap is a business risk
As financial crime and identity theft continue to rise, businesses are also being hit hard.
- In 2020 alone, financial institutions paid over $10.4 billion in fines for failing to comply with identity and data regulations.
- Fake or stolen identities are a key enabler of money laundering, loan fraud, and cybercrime.
- Manual verification methods are slow, error-prone and no longer POPIA/FICA compliant.
Technology can close the gap – if businesses use it responsibly
Ideco is using this International Identity Day to call for widespread adoption of secure, real-time digital identity verification.
The company’s eKYC (Electronic Know Your Client) platform uses fingerprint and facial biometrics linked directly to the Department of Home Affairs to instantly confirm identities. It prevents identity fraud while helping businesses:
- Achieve full POPIA and FICA compliance
- Reduce fraud risk by up to 50%
- Cut operational costs by up to 25% through automation
- Onboard legitimate customers faster
Unlike traditional KYC, Ideco’s eKYC is privacy-led, storing no personal data locally and using tamper-proof biometric devices to protect sensitive information.
Coetzee is challenging South African businesses to see identity as more than just a compliance task.
“Protecting identity is a legal duty, but it’s also a moral responsibility. We must make sure that identity systems work for people, not just for profit. If we fail to protect identity, we open the door to fraud, exploitation, and exclusion.”
“Together we can build a future where every person has the security, dignity and opportunity that comes with a trusted identity. Businesses have the tools to make this possible, the big question is – will they use them,” he concludes.
