south africa

ThisIsMe: Top RegTech Startup Safeguarding Your Data.

ThisIsMe is a South African identity verification and due diligence platform founded in 2014 by Juan Furmie and David Thomas. ThisIsMe offers users a free, secure profile in which to store their personal data. The startup also partners with merchants through their business portal. ThisIsMe’s privacy-protected platform enables businesses to perform Multipoint Identification, Fast FICA, Remote Onboarding, Enhanced Due-Diligence and Business Verification.

The startup uses tech that includes artificial intelligence, biometrics, machine learning, and tamper detection – ThisIsMe promises the fastest Financial Intelligence Centre Amendment (FICA) verification of three minutes. In July of 2017, the company claimed to have achieved the record breaking three minutes FICA verification.

In August of 2018, ThisIsMe launched new products aimed at improving businesses’ compliance with regulation and reduce their potential risk. The products include the Know Your Customer tool, Risk Matrix; Deeds Check Service; Company LookUp; Politically Exposed Persons, Sanctions and Adverse Media Screening.

Cybercrime and Data Breaches are all too common, affecting all sorts of organisations from companies to government departments – no one is safe from the threats they pose. New technologies bring with them new risks and individuals and companies need to adapt to these new threats.

Currently, most compliance regulations only cover financial institutions and credit providers. As we head toward a completely digitized society and the protection of an individual’s data becomes paramount, However, with increasing digitization, regulation is expected to extend to other industries and the adoption of RegTech to subsequently become a necessity across the board. The protection of people’s data is set to become ever more crucial.

In an interview for itnewsafrica conducted in the backdrop of this year’s tt100 Business Innovation Awards, co-founder and CEO, Juan Furmie was asked about the future plans and upcoming programs for ThisIsMe. He answered, “We will continue to improve and build on our existing services in order to continually add value for existing clients and also look to expand into other industries with our growing base of solutions and services…While building and improving our services, we are looking to grow our geographic footprint by adding additional data sources in order to expand through Africa initially, then globally.” The startup is a 2017 tt100 Award winner. The company looks set to scale into one of the most significant African FinTech/RegTech company.

Adding to an array of commendations and awards, ThisIsMe has just recently won first place in the 2018 Benzinga Global Fintech Awards which were held in May. The startup was placed first in the RegTech category ahead of Canadian company, iComply, and New York based 8OF9, who came in 2nd and 3rd place respectively.

To date, ThisIsMe has accrued some highly reputable partner merchants including ABSA, Old Mutual, SANLAM and Trustlink. The startup is consistently ranked among the top RegTech and upcoming FinTech companies globally.

ThisIsMe is a gold member of AlphaCode, a club for fintech entrepreneurs. AlphaCode is also the fintech investment arm of Rand Merchant Investment Holdings. According to Crunchbase, ThisIsMe raised $2.5M in funding over 1 round announced on May 9, 2016.

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