Youverify is launching a new digital identity wallet in Nigeria. Dubbed YouID, the new service was designed to make it easier for individual users to sign up for online services, and for businesses to comply with any Know Your Customer requirements.
To that end, YouID will give users the ability to store personal information on their smartphone. That information can then be shared with another service with only a few button presses. As a result, users no longer need to fill in an intake form, and can instead send all of the relevant information and complete the onboarding process quickly and easily.
For consumers, the YouID app will serve as a marketplace of trusted merchants and service providers, insofar as the businesses that support YouID onboarding will have been vetted to weed out potential scams. Businesses, meanwhile, will be able to trust their customers knowing that the names, email addresses, and phone numbers stored in a YouID wallet are legitimate.
The YouID wallet is encrypted for additional security. It will also monitor the newswire for reports about data breaches all over the world, and immediately notify users if Youverify has reason to believe that their password has been compromised or leaked by a third party. Youverify itself is pitching YouID as a lifestyle app, and suggested that the solution could serve as a replacement for passwords on websites and mobile apps.
Nigerian businesses (and the Nigerian government) have been pushing digital transformation on a number of different fronts in the past few years. For instance, the Nigerian military recently started using FacePhi’s facial recognition technology to distribute pension benefits, while BIO-key has started shipping biometric sensors to fulfill contracts with the Nigerian Ministry of Labour and the Technology Transfer Institution of Africa. IB fingerprint scanners are also being used to enroll people in the Nigeria Inter-Bank Settlement System.
Source: The Sun