VerifyMe: Story, Founders, Investors & Funding Rounds
VerifyMe helps build confidence in Nigeria’s economy by providing digital identification and verification services to a variety of sectors, including the retail sector. The National Identity Management Commission has given us permission to offer verification services through our API and full-service Managed Verification Platform (NIMC).
Using their facial recognition and liveness detection technology, which is powered by artificial intelligence, their clients can enable contactless customer onboarding, verify National Identification Numbers (NIN), Bank Verification Numbers (BVN), and Driver’s Licenses (FRSC), and make sure online transactions are safe.
They have tools that help you find out if you are eligible for jobs and financial services that follow the rules of the Central Bank of Nigeria (CBN) Tier III and Anti-Money Laundering (AML).
“Francis” began working as a cook for Olutunji Oluwole in September 2011. Six months later, he and his family all passed out after having a big meal to celebrate. When they finally woke up 18 hours later, they found that “Francis” had given them poison and stolen everything they had.
A few weeks later, Olutunji found out that “Francis,” using a fake name and a made-up work history, had gotten a job with another family on the same estate as “Joshua.”
He started poisoning his new employers with the help of the housekeeper who had worked for the family for four years.
How it Works
Users’ identities are checked through their system using the official databases of the Nigerian Identity Management Commission (NIMC) and the Federal Road Safety Commission (FRSC).
Use their AI-powered biometric recognition to make sure a user is who they say they are and stop fraud. Customers with or without bank accounts can open accounts with them remotely.
They give you a full profile of every potential client or employee through Nigeria’s largest Agent Verification Network. They have met the requirements of the Central Bank of Nigeria (CBN) for Tier 3 Anti-Money Laundering Compliance (AML). In big cities, they try to finish their work in less than 24 hours whenever they can.
Employee History Verification
Use their FraudView tool to join Nigeria’s largest group of people who review employment records and look for signs of fraud at work. They give them accurate and up-to-date information about how they were punished in the past so that employees don’t keep breaking the rules at work.
Their services are in line with CBN and financial rules when it comes to checking out possible guarantors for things like loans, leases, and job applications. You can be sure that the people you are hiring are real people who will do what they are supposed to do.
VerifyMe is helping people who don’t have a bank account get a National Identity Number with the help of the National Identification and Mapping Consortium (NIMC) and the National Identification and Biometric Services Service (NIBSS) (NIN).
Bank Account Number Verification
With their API for the Nigeria Uniform Bank Account Number, you can check your customers’ bank account information right away (NUBAN).
Face Matching and Biometric Verification
Their suite of biometric technologies is powered by AI so that ID verification and liveness detection can be done quickly and without any trouble.
Esigie Aguele is the Co-founder and CEO of VerifyMe Nigeria
Esigie’s job is to put the company’s stated goals and objectives into action and come up with long-term plans to reach those goals.
Before he joined VerifyMe, he worked at B3 Group, where he was in charge of the Enterprise/Solution Architecture (EA) pipeline proposals.
He has a lot of experience in the public sector of the United States as a chief enterprise architect (CEA), engineer, and operations specialist for business transformation projects.
Esigie went to Howard University to study Electrical and Electronics Engineering and get a degree.
As CEO of VerifyMe, Olutunji makes sure that the company’s most important partners work well together.
He is a smart and creative businessman who has been involved in several high-profile deals and businesses in both the United States and other countries.
Olutunji works with the Lagos Chamber of Commerce and Industry and the Nigeria-Indonesia Chamber of Commerce and Industry in addition to the NAPBS.
Investors & Funding Rounds
Consonance Investment Managers
VerifyMe Nigeria got Series A funding from Consonance Investment Managers for an unknown amount.
With this money, they can strengthen their existing partnerships and come up with new ways to check digital IDs.
VerifyMe also wants to become more popular in Nigeria and make twenty times as much money in the future. VerifyMe is a business that makes money but also wants to help people. It will make it easier for people in rural areas to get services like financial inclusion and intervention.
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