South Africa’s iiDENTIFii is urging businesses to move forward with their digital transformations. Co-founder and CEO Gur Geva noted that consumer expectations have changed in the past few years, and suggested that enterprises that do not adapt will be left behind once people start to gravitate toward those that offer a better digital experience.
In that regard, Geva pointed out that more and more business is now taking place online, and that consumers increasingly expect to be able to engage in digital spaces. That’s even true in the financial sector, where banks are rerouting resources from brick-and-mortar establishments to online channels to try to attract new customers.
The catch, of course, is that businesses still need to make sure that they are able to protect people’s personal information, and do so in a way that is compliant with regulations like South Africa’s Protection of Personal Information Act. That makes a good remote onboarding and identity verification solution essential for those doing business in a digital environment. Companies that are able to secure client data while still delivering a streamlined user experience will stand out in an increasingly competitive virtual marketplace.
Liveness detection is an essential piece of the puzzle, since it ensures that a real person is present and mitigates the risk of fraud and identity theft. However, iiDENTIFii noted that not all solutions are created equal, which is to say that businesses need to select an authentication solution that is accurate and meets the needs of their particular organization. That decision is especially important for new businesses that have a small margin of error and need to be able to compete with more established enterprises as soon as they open their (virtual) doors.
iiDENTIFii itself is a provider of face-based biometric identity verification services. Geva believes that his company is able to fulfill those high expectations, and help businesses keep pace with the rapid rate of innovation. He suggested that the benefits for early adopters will be even more pronounced in South Africa, where tech savvy consumers are already familiar with and expect a smooth biometric onboarding experience.
iiDENTIFii has previously argued that South African businesses that invest in biometric security technology will rebound more quickly in the wake of the pandemic. The company has also advocated for the use of biometric authentication in the elections process.
March 17, 2022 – by Eric Weiss