This makes ThisIsMe the second South African FinTech startup to be selected for the programme after Electrum.
“Many IT executives rely on Gartner Symposium/ITxpo to gain insight into how their organisations can use new technology solutions to address business challenges and we look forward to showcasing our advanced offering,” said David Thomas, Co-founder and Head of Product at ThisIsMe.
ThisIsMe helps businesses automate the FICA/KYC process and have managed to reduce it down to 3 minutes.
“Until recently, the process to establish and verify the identities of clients has largely been paper based with clients having to arrive at a bank branch, for instance, for face-to-face identification. This tedious process of FICA onboarding has increased costs for institutions to between R300 and R1500 for each client,” said Mark Chirnside, CEO at ThisIsMe.
The FinTech startup raised $2,5 million in funding in 2016 and reports that it has processed more than one million verifications.
“ThisIsMe’s digital platform makes it faster, very much more cost effective and there are fewer errors. The entire process is completed digitally, with machine learning technology ensuring that documents aren’t tampered with. In addition, we are able to ensure that a client’s information is regularly updated and secured. With a client’s permission, we are able to verify that a client is indeed who they say they are,” explained Chirnside.