Mama Money and Incode partner to enhance cross-border payments

By Delisha Fernandes

Mama Money, a FinTech offering cross-border money transfers and banking services, has partnered with Incode, a privacy-centric identity solutions.

Through this partnership, Mama Money aims to bring advanced identity verification systems to strengthen the fight against fraud and financial crime in the FinTech industry.

The partnership is the first for an African-based cross-border payment service. It sets a new standard in Know Your Customer (KYC) processes that enable financial institutions to confirm that a person is the genuine owner of the real-world identity they claim to assess their potential risk.

The partnership between Mama Money and Incode aims to address these challenges by integrating Incode’s verification technology into Mama Money’s digital platform. As customers register for Mama Money through its mobile application, the customer’s identity documentation will be verified using facial recognition technology to ensure it matches the customer’s uploaded image.

“Partnering with Incode is another step we are taking to ensure our service is not only easier for customers to use but that our compliance and security systems are of the highest global standard,” said Nicolas Vonthron, CEO of Mama Money. “Our mission has always been to make financial services more accessible and affordable to underserved communities, and we are also taking proactive steps to combat financial crime.”

“Individuals living and working abroad have long experienced the challenges of traditional, human-in-the-loop money transfers,” said Ricardo Amper, CEO and Founder of Incode. “Advanced biometric authentication, powered by AI and machine learning, can revolutionise cross-border transactions. By seamlessly integrating Passive Liveness Detection, Incode ensures that customers’ identities are verified with utmost security and convenience, fostering social and economic mobility worldwide. In partnership with Mama Money, Incode is proud to support the mission of promoting universal accessibility and financial empowerment for all.”