ThisIsMe, South Africa’s fintech FICA specialist, now has verified more than 1 million individual’s identities to other individuals, businesses, financial institutions and regulators, the company told TechFinancials on Tuesday.
The innovative fintech firm conceptualised in 2013 and formally established in 2014 is currently used by 85 merchants, including some of South Africa’s largest financial services business, to verify the identities of their clientele.
The fintech specialist, which specialises in identity verification, said its solution is utilised by more than 15,000 individual users.
The company – which is using blockchain technology to further enhance its current services of true identity (ID) verification, onboarding, background checks and KYC/AML (know-your-customer and anti-money laundering) – has been selected as one of three finalists in the Accenture Innovation Index Awards, for its Fast FICA concept.
The company also recently announced that it had been selected to participate in this year’s Gartner’s Innovation Programme.
The Accenture Innovation Index provides an in-depth analysis of the country’s current state of innovation and rewards forward-thinking businesses that are disrupting industries.
Winners of the 2017 awards will be announced at the Accenture Innovation Conference on 17 October 2017 in Johannesburg.
ThisIsMe, led by co-founders Juan Furmie and David Thomas, enables businesses to reduce fraud, automate FICA/KYC checks, improve onboarding and increase revenue while providing an on-demand, seamless customer experience.
This fintech business can complete the FICA process in under three minutes – an African record.
It is expanding into African and international markets and counts Sanlam and Silica as customers. It was also ranked one of the best global regtech companies by the CB Insights team in 2017.
It’s not only financial institutions that require FICA systems. Businesses in property, retail, eCommerce, SMMEs, gambling and many other sectors require efficient FICA processes.