inVOID plans to expand in SEA; aims to acquire over 200 banking and FinTech clients

By Edil Corneille

After announcing a 250 percent revenue growth in July, New Delhi-based inVOID announced today its plans to expand in the South East Asian markets of Singapore, Malaysia, Hong Kong, Philippines, Vietnam, and Myanmar over the next one year. The Identity Verification & Fraud Prevention AI Platform company aims to acquire over 200 clients in these markets, across banking and FinTech industries.

inVOID has revealed that it plans to expand its team and hire for its engineering, sales, and operations teams. The company has a strategy to discover partnerships and prospects in global markets to explore alternate data sharing and sourcing options for building a seamless onboarding experience for companies.

Kunwar Raj, Co-founder and CEO at inVOID apprised, “We have been able to grow phenomenally well, even amidst the COVID-19 crisis. We have added new partners across industries. We believe that this is the right time to kickstart our global story. South East Asia offers a plethora of opportunities for a product like ours as they are receptive of digital methods of on-boarding and verification. We will be targeting Financial institutions, lending companies and FinTechs in Singapore, Malaysia, Hong Kong, Philippines, Vietnam & Myanmar. We are hoping for a positive response from these markets.”

The pandemic has fastened the adoption of digital solutions by businesses so as to build a robust ecosystem to combat uncertainties that may arise due to the changing business and economic environments. inVOID has seen a huge demand surge from various geographies for digital on-boarding and remote verifications. The company mentioned that this has made it one of the few startups that have recorded unparalleled growth even during these unpredictable times.

Sarthak Goel, Co-founder & CTO, inVOID elucidated, “Our on-boarding solutions, facial recognition technology and passive liveness offerings are one- of- a-kind and use the most advanced and state-of-the-art technology. We are excited about our expansion in South-East Asia and are confident that our offerings will resonate well with the customers in these markets. We are expecting to strengthen our fraud check mechanisms, thereby making our offerings robustly engineered and much more secure, in the future.”

inVOID’s clients include banks, FinTechs, NBFCs, gaming platforms, matrimonial, and cryptocurrency companies. With everything going virtual, inVOID enables companies to verify users remotely in a click and the Video KYC solution also gives a human touch to the whole process.