Digital Banking

Trulioo Global ID Service Now Available In Nigeria, Ghana

Trulioo Global ID Service Now Available In Nigeria, Ghana

Global ID verification provider Trulioo has announced it will now be able to verify customers in Nigeria and Ghana, according to a release by the company.

This will be made possible through Trulioo’s marketplace of identity services, called GlobalGateway. Coverage in Nigeria and Ghana will assist banks and other financial institutions (FIs) with verifying IDs in countries that often lack traditional ID infrastructure, enabling people to get financial services that they otherwise wouldn’t be able to access.

Both Nigeria and Ghana have recently taken steps toward making it easier for people to procure digitization services, which includes ID verification.

Also, many FIs in those countries have been using more Know Your Customer (KYC) technologies, as well as digital addressing systems to assist with mail delivery. In 2017, Ghana introduced GhanaPost GPS and Nigeria partnered with What3Words.

Although the number of adults with bank accounts has been steadily rising and is up 7 points since 2012, African countries – especially in the sub-Saharan and West African regions – are trailing the rest of the world. The worldwide average is 69 percent, and in Ghana it is 62 percent. Nigeria is even lower at 44 percent.

“While many African countries have made great strides in their national digital identity programs, far too many of the continent’s residents face barriers when attempting to access financial services,” said Zac Cohen, COO of Trulioo. “Financial institutions are reluctant to do business with citizens who lack a verified digital identity, as it can put them at risk of compliance violations, which in turn constricts citizens’ connection to the global economy.”

Not having an ID is the biggest obstacle to getting financial services. In Nigeria, only about 4 percent of citizens have enrolled in the country’s ID program. While rates in Ghana are higher, fewer than 60 percent of residents have a Ghana ID card.

——————————

LATEST PYMNTS REPORT: B2B API TRACKER 

Social distancing has changed eCommerce from a ‘want to have’ to a ‘must have’ for businesses, yet retailers could struggle to create convenient payment and refund experiences for their apps and websites, says Abdul Raof Latiff, head of DBS Bank’s digital institutional banking group. In the April 2020 B2B API Tracker, Latiff explains how banks can provide a timely assist via application programming interfaces (APIs) that integrate payments into those eCommerce platforms.

TRENDING RIGHT NOW