iiDENTIFii

About iiDENTIFii

Based in Cape Town, South Africa, iiDENTIFii operates as a specialized developer of remote biometric digital authentication and automated onboarding technology. The company was established in 2018 by founders Gur Geva, Lance Fanaroff, and Robert Sussman. Geva, the current CEO, describes himself as a technologist focused on leveraging AI for societal benefit, stemming from a long-standing interest in financial services innovation. Fanaroff and Sussman previously co-founded ICT firm Integr8 Group in 2001, which was later acquired by BCX in 2012 for R126-million. This entrepreneurial background in the tech sector underpins the strategic direction of iiDENTIFii.

The firm's core business revolves around providing a secure and user-friendly platform that authenticates physical identities in the digital realm. Its enterprise-grade technology is engineered to be implemented at scale, plugging into clients' existing mobile and web-based infrastructures to enable frictionless customer onboarding in seconds. The primary revenue stream is derived from providing these solutions to businesses. The company targets a diverse client base across several verticals, including banking, insurance, retail, gaming, and mining. Notable clients include major pan-African financial institutions like Standard Bank, Absa, and Investec Bank.

iiDENTIFii's key service is its facial authentication platform, which utilizes a patented 4D Liveness® detection technology. This system uses light rays and reflection to confirm a user is a real, live person, offering resilience against sophisticated fraud methods like deepfakes and digital replay attacks. The process involves a user taking a selfie, which is then matched against their official identity document. The platform's algorithms have been trained on millions of African ethnicities to enhance accuracy and inclusivity. Beyond facial recognition, the service includes identity document verification through triangulation with government databases, as well as barcode capture and data extraction. This comprehensive approach assists clients in meeting regulatory compliance for Know Your Customer (KYC) and Anti-Money Laundering (AML).

A significant milestone was achieved in September 2022, when iiDENTIFii secured $15 million in a Series A funding round. The round was led by Arise, a consortium including cornerstone investors like Rabobank and Norfund, with participation from Sanari Capital and US tech entrepreneur Bill Spruill. This capital is earmarked for the company's expansion across Africa. The company has received numerous accolades, including the KPMG Tech Innovator in Africa award, MTN App of the Year, and Microsoft Independent Software Vendor of the Year.