idwall (“the Company”) is a Brazilian based fraud prevention and identity verification software business. The Company offers onboarding technology that streamlines the KYC / AML process leading to efficiency gains and faster customer conversion. idwall’s solutions are applicable across industries and today customers include both large Brazilian enterprises and SMBs. In addition, the Company offers MeuID, a digital identity service for consumers to better monitor their identity or for businesses to continuously verify stakeholders.
1. Improved access to digital services for individuals, resulting in digital inclusion of the underserved: Access to digital services in Brazil is fairly high compared to other emerging markets and the share of adults using mobile / e-payment is above regional averages, yet slightly below income group averages. Similarly, the share of the population with proof of identity mirrors other emerging markets. Still, for the poorest, access to digital services remains less than half the national average, reflecting lower levels of trust. The project contemplates improved access to digital services by scaling up the digital ID product, which may enable users to gain affordable, secure access to online services thereby enabling their digital inclusion.
2. Enhanced productivity growth and cost savings for businesses through digital ID solutions: Despite a relatively high usage of ICT in B2B transactions, businesses incur high cost due to prevalence of corruption and fraud in Brazil.
3. Enhanced productivity growth and cost savings for businesses: idwall's products enable more efficient and secure interactions with customers. Automated processes lead to efficiency gains, cost savings, and
faster conversion of customers, which directly impacts profits.
4. Integration of the Brazilian economy through increased digitalization: While Brazil's economy is fairly integrated with adequate digitalization of transactions, few scalable digital ID solutions are available resulting in economic frictions and limiting the size of the digital economy.
5. Foster economic integration through the proliferation of private sector led digital ID platforms: The Company is introducing an innovative model that enables scale up of a digital ID. Successful expansion by the Company will demonstrate the viability of this model to competitors and potentially result in their replication.
Any funding information was available at the moment of the snapshot.
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