IDEMIA has been awarded second place in the 2020 AFI Inclusive Fintech Showcase for its digital identity solution for disadvantaged groups. The company was one of 12 finalists in the showcase, which recognizes innovative solutions that are helping to address the fallout from the COVID-19 pandemic and beyond.
In a virtual presentation to AFI’s final jury, Ali Akbar, Director of Business Intelligence for IDEMIA’s Digital Business Unit highlighted how IDEMIA’s Digital Identity Platform can be leveraged by FinTechs and regulators to provide identity verification methods to the underserved – enabling them to easily and securely register their identities and thus access basic services. In the COVID-19 context, this can enable the swift roll out of financial aid to the most vulnerable and hard-to-access populations.
As one of the top three winners, IDEMIA will participate in AFI’s Public-Private Dialogue platform and be awarded a one-year membership to Luxembourg House of Financial Technology (LHoFT) which provides practical training, education and research services for the FinTech Community. The company will also participate in specific activities of the AFI Public-Private Dialogue (PPD) in 2021.
“We are extremely pleased to be recognized by AFI,” said Matthew Cole, CEO of IDEMIA’s SET Division. “By reducing the hurdles to financial inclusion and leveraging risk-based KYC approaches, we can create channels through which the world’s most vulnerable populations can access essential services and enter the digital financial world.”
About the AFI Inclusive FinTech Showcase:
The 2020 AFI Inclusive FinTech Showcase is an initiative under the 2018 Sochi Accord with AFI’s membership committed to “create and participate in platforms for systemic dialogue and partnership among regulators and policymakers with FinTech companies and technology providers” (source: AFI)1
It is supported through AFI’s Multi-Donor Financial Inclusion Policy Implementation Facility (MD-PIF), with participation of French Development Agency (AFD), the German Federal Ministry of Economic Cooperation and Development (BMZ) and the Ministry of Finance of the Grand Duchy of Luxembourg.
