Qore and QoreID: Elevating Africa's Financial Integrity Through Strategic Alliance

Qore, the leading Banking-as-a-Service platform provider in Africa, has partnered with QoreID, A VerifyMe Company, Africa’s foremost data and e-KYC technology provider, to deliver robust, reliable, and real-time identity verification and AI-powered authentications that safeguard financial institutions against financial crime and ensure regulatory compliance.

Qore is dedicated to giving more than 500 financial institutions within their ecosystem, in Africa, a competitive edge through their Banking-as-a-Platform (BaaP) proposition, offering complete access to tools created by third-party providers from across the continent.

The strategic alliance between Qore and QoreID (A VerifyMe Company), drives the ‘know your customer’ (KYC) automation and validation process for financial institutions. This will enhance transaction quality, streamline customer onboarding processes, minimize and mitigate fraud resulting from impersonation. Financial institutions can now leverage Qore’s AI (Artificial Intelligence) capabilities to assess the risk associated with onboarding customers, thwart identity theft, prevent money laundering, and uphold compliance standards. This achievement stems from the integration of QoreID’s photo-matching biometric service, which ensures that a customer’s photo is captured and matched against the image on their government-issued ID using the government agency database before an account is opened.

The services provided by QoreID (A VerifyMe Company) align with Qore’s campaign to reduce fraud within financial services. “We are thrilled to partner with QoreID” says Mudiaga Umukoro, Chief Operating Officer, and Co-founder of Qore. He further states, “Ensuring regulatory compliance and safeguarding the integrity of our customers’ data is paramount. By partnering with QoreID, we are reinforcing our commitment to delivering the highest standards of trust, transparency, and security to our valued clients. The robust KYC services offered by QoreID, combined with our advanced solutions, will allow us to provide our customers with an even more secure and reliable identification process to curb fraud cases.”

Commenting on the partnership, Olutunji Oluwole, Executive Chairman, and Co-founder of QoreID (A VerifyMe Company), says “We couldn’t be more excited about teaming up with Qore. Our mission goes beyond just verifying identities, we’re focused on providing our users with a holistic view of the customer they are onboarding. By integrating our AI-powered KYC and data analytics services into Qore’s network, we’re simplifying onboarding processes, mitigating business risks, and enriching the overall experience for institutions and their customers. We’re passionate about connecting businesses with trusted identities and valuable consumer insights,” Olutunji adds. “This partnership is a big step towards building a more secure, efficient and compliant financial landscape in Africa.”

Together, Qore and QoreID, A VerifyMe Company are setting a new standard of excellence in customer due diligence and risk management for sustained success in an ever-changing financial landscape.

---

Send us your press releases to shareyournews@lucidityinsights.com