Chipper ID is designed to specifically address the unique challenges faced in Africa by businesses
Chipper Cash, a Nigerian Fintech startup has launched Chipper ID, an AI-powered suite of verification services, tailored to solving industry-wide customer onboarding and compliance issues in the African market.
The solution has been designed to tackle Know Your Customer (KYC) issues across the African continent including ID verification, often impacted by mobile issues, and sub-par KYC solutions in order to protect against pipeline losses and inauthentic users.
“Chipper ID is here to revolutionise online identity and verification through innovative AI technology for businesses serving the African market.
“Chipper ID has been designed specifically to address the unique challenges faced in Africa, providing a secure and trusted solution that is tailor-made for businesses operating across the continent,” Ham Serunjogi, CEO and Co-Founder of Chipper Cash said.
“Over the years, we’ve experienced lacklustre solutions on the African continent for verification due to many tools being built for the Western world.
“Faced with these challenges, we began to put in place the foundation blocks for Chipper ID – a product we now use ourselves within our own business and one that has saved us millions of dollars, reduced fraud, and yielded better results across onboarding and verification.
“KYC checks play a vital role in the onboarding process for new customers and represent one of the biggest challenges that financially regulated companies face.
“This is why our team of in-house experts has taken a stringent verification focus with Chipper ID to deliver a trusted tool purpose-built for the continent.”
The solution sets out to address common compliance issues including expensive vendor solutions not tailored for the African market, siloed screening data, evolving global regulations, and false positives, utilising AI to enhance the accuracy and efficiency of data collection and analysis.
Samee Zahid, Director of Engineering at Chipper Cash, said: “Artificial Intelligence is a central pillar for Chipper. We are constantly innovating and putting AI at the heart of our solutions from building an in-house analyst bot to mapping transactional risk patterns.
“There is a huge opportunity for AI in the financial services space, and it forms an integral part of Chipper ID’s verification processes.”
“Chipper ID leverages state-of-the-art AI technology to verify users and supercharge the onboarding of new customers, faster than ever and with greater accuracy.”