Sierra Leone Joins Ranks of Countries Benefiting from Identitypass’ Robust Identity Verification Solutions
Identitypass, a leading provider of identity verification solutions, has announced the addition of Sierra Leone to its growing list of countries benefiting from its robust technological solutions. This move marks a significant milestone in the company’s expansion plans as it seeks to strengthen its presence across Africa.
A Growing Presence in Africa
With over 20 active endpoints deployed, Identitypass has already made a significant impact in Nigeria, Ghana, Kenya, and South Africa by helping hundreds of digital businesses verify millions of users and companies. The company’s solutions have successfully solved compliance bottlenecks, onboarding frictions, and identity theft issues in these markets.
Sierra Leone: A Growing Economy with Endless Opportunities
Sierra Leone was chosen as the next destination due to its growing economy, with a population of over 8 million people and a 3.4% 5-year compound annual growth rate. The country also boasts a foreign direct inflow of $349 million, ranking it 140th on the Index of Economic Freedom.
Solving Compliance Challenges
The move is particularly significant for banks, financial service providers, SMEs, and governments in Sierra Leone, who are grappling with the challenge of carrying out Know Your Customer (KYC) checks at scale. In-person or paper-based systems are no longer practical, making digital identity solutions a necessity.
AI-Powered Authentication System
Identitypass’ AI-powered authentication system can significantly increase the speed and effectiveness of these checks, thereby inviting more people into the financial system. With its expansion to Sierra Leone, businesses operating in the country can now accurately and swiftly verify their customers’ identities using driver’s licenses and voter’s cards.
Achievements and Future Plans
The company has already made significant progress in its expansion plans, having completed a $360,000 pre-seed round last year and achieving NDPR compliance. It has also been recognized as a top performer in the leading African benchmark of identity verification solution providers.
As Identitypass continues to expand to other African countries soon, it is optimistic about the future of digital compliance and security on the continent. The company believes that there are more digital businesses that can benefit from its solutions and is making progress towards connecting with these businesses as well as consistently improving its products.
Key Benefits
- Accurate and swift verification of customer identities
- Increased speed and effectiveness of KYC checks
- Protection against identity fraud, theft, and online scams
- Improved financial inclusion for individuals and businesses
- Compliance with regulatory requirements in Sierra Leone
By expanding to Sierra Leone, Identitypass is further solidifying its position as a leading provider of identity verification solutions in Africa. With its robust technological solutions, the company is poised to make a significant impact on the continent’s digital landscape.