Veriff, a global identity verification provider is partnering with Kueski, one of the fastest-growing fintech platforms in Latin America.
Veriff, a global identity verification provider is partnering with Kueski, one of the fastest-growing fintech platforms in Latin America. With this partnership, Veriff expands its business in the Latin American market by helping Kueski’s clients to have safe and smooth access to financial services.
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Kueski is a tech company that promotes digital financial access in Mexico by bringing trustworthy and simple financial services to people underserved by financial institutions. By offering microloans in a completely digital way, Kueski grants first-time formal credit access to people with no credit history.
Granting digital access to financial services comes with compliance requirements and risks, both for Kueski and its customers. With its automated identity verification service, Veriff is helping Kueski to leverage the risks, stay compliant and onboard their clients smoothly without compromising safety.
Janer Gorohhov, co-founder and CPO of Veriff, says: “Having a fast and reliable identity verification process is essential for improving customer trust. With the help of our technology, Kueski can provide a frictionless onboarding service for many more customers and scale their business. We’re delighted to have a solid partner in Kueski when entering the Latin American market.”
Sahari Cabello, Head of Kueski Cash & Credit Risk: “Our top priority is to give our customers financial solutions in a trustworthy environment. We have implemented a multi-layer fraud prevention framework, where Veriff is a key element to avoid identity theft and protect people from fraudsters abuses. Since accuracy, great customer service and high technical experience are paramount to us, we decided to go with Veriff.”
In Latin America, 48% of the adult population is excluded from having access to financial services, and according to the Financial Inclusion Survey made by the CNBV (Mexico’s equivalent of the SEC), only 21.6% of the population in Mexico has a credit card while in the US it represents 91.1% of the total population. The lack of financial inclusion could be associated with the high informal economy in Mexico. Currently, more than 57% of the working population in Mexico is under informal employment, which represents 22.7% of the GDP as stated by INEGI. Informality causes consumers to avoid financial services because they want to fly under the tax radar.
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