Smart address verification tech-driven product in Nigeria was recently launched by a Kenyan digital addressing system startup, OkHi Limited, and Interswitch Group, to focus on digitizing payments on the continent. After this launch, Quickteller, Interswitch's payments and wallet service, becomes the first Nigerian company to use OkHi's new service.
OkHi was founded in 2014 to help digitally verify customers' addresses as providing electricity or water bills to financial institutions and/or sending agents to the address provided by the customer will no longer be necessary.
These processes are seeking growth and access to credit for millions of Nigerians. Interswitch will therefore provide its customers with an OkHi address that will enable them to access larger portfolios and faster loans.
"The fact that Interswitch is launching us to millions of people through Quickteller gives us an incredible platform to drive financial inclusion in Nigeria," said Timbo Drayson, CEO and founder of OkHi.
Interswitch Group’s divisional CEO for industry ecosystem, Ms Chinyere Don-Okhuofu, expressed that the life-changing initiative will deal with the barrier to financial services growth and also have an impact on Nigerians interaction with the tech world.
Several fintechs companies are developing innovative solutions to this fierce battle against financial exclusion on the continent. OkHi will enable fintechs and neobanks to provide more services to the African population.