YOUID solution
*From left: Dr Gbenga Odegbami, CEO, Youverify.inc; Mrs Carolyn Folami, GM, Business Development and Commercial Services,National Identity Management Commission; Yemi-Joshua Oladeji, Director of Sales & Marketing, Youverify Inc. and Akinkugbe Oluseyi, Head of Product, Youverify at the launch of YOUID recently.

By Prince Osuagwu

With heightening insecurity in the country, moving around with important documents such as government-issued identifications like the international passport, national identity cards, driver’s licence, and vehicle documents have become a costly risk no one would conveniently like to take.

The burden of losing such vital documents can be telling. Coupled with the prevalent activities of mobile phone thieves, one can be totally stripped of his world of information in one unfortunate attack.

Most often, the price victims pay, go beyond getting locked out of accounts to compromised passwords, and unauthorised access to user’s accounts by cyber criminals and hackers. It is no longer news that millions of people have at some point in their lives had their accounts compromised, resulting in the loss of money or important information stored online.

On the heels of these costly and recurring threats, the necessity for use of multifactor authentication and other safe methods of protection of accounts became prevalent.

These security measures require users to create digital identities, mobile Apps, websites as well as certain software and tools which entails the capturing of their email addresses, usernames, passwords, phone numbers and in some cases, their location.

However, considering that these measures are cumbersome as they require individuals to memorise usernames and passwords to be able to log into sites and access information or tools available there, a disruptive tech solution was also needed to lessen the load of memorisation individuals and organisations have to grapple with.

That was exactly what a Lagos-based technology company, Youverify, debuted with recently with the birth of a secure digital ID wallet that lets individuals safely store personal details in an encrypted format and use it to access online services securely without having to fill a KYC form.

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The digital solution, YouID; according to the company, fulfils its vision of building an Africa where every African, and African business can build economic relationships and trust without worrying about fraud or compliance difficulties.

The company, focused on identity and access management with biometric identity verification and other digital identity solutions, said that apart from providing a secure digital wallet for the storage of personal information, YouID instantly notifies users when their passwords are breached or their credentials leaked by a third-party. YouID continuously collates and reports data breaches and leakages globally thereby keeping users informed and their credentials secure at all times.

Designed with individuals as well as businesses in mind, YouID is equipped to help businesses gather their customers’ KYC information easily, track and verify physical addresses smartly.

CEO of Youverify, Dr Gbenga Odegbami said with the click of a button, businesses can collect and review the data of their customers and prospects without subjecting them to the dreary task of filling out forms, thereby simplifying on-boarding processes and giving them the assurance they need to transact with individuals or other businesses. YouID also gives users access to a robust marketplace where they can secure the best deals from verified and trusted merchants and at the same time provides businesses the visibility and appeal they require to attract more patronage. 

For him, YouID was birthed from the understanding he and his team have of how important personal information need to be protected with extra layer of security, ease and comfort everyone needs to make life a little easier.

Vanguard News Nigeria

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