The goal of this partnership is to allow South African businesses to deploy more comprehensive identity management and fraud prevention strategies without impacting on the customer experience. Bitventure’s remote digital identity verification solutions enable organisations to verify and onboard customers by digitally matching an ID number to an ID photo retrieved from Home Affairs from any remote environment.
The companies’ objective is to help businesses make better-informed decisions in real-time when it comes to onboarding new customers through physical or digital channels. Bitventure believes in South Africa, economic crime rates are higher than the global average as fraudsters take advantage of vulnerabilities in business’ risk management practices. The capabilities enabled by Bitventure will allow TransUnion customers to overcome the historical tradeoff between security, convenience, and privacy.
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