EgyptTrust, an Egyptian provider of electronic signature, digital identity and information security services, will integrate Facephi’s fraud detection technology into its locally hosted, multi-tenant platform under a new partnership. The combination will let EgyptTrust offer the organizations it serves an end-to-end onboarding service built around fraud prevention, the companies said.
Founded in 2005 as the Egyptian Company for Digital Signature and Information Security, EgyptTrust was among the first companies licensed by the Information Technology Industry Development Agency, or ITIDA, to provide electronic signature and e-seal services. Its platform is hosted in Egypt and designed to serve multiple organizations as they grow. Licensed electronic signature companies, along with ITIDA and the Cairo firm CyShield, built the biometric verification system for remote telecom services that Egypt’s telecom regulator launched in August.
Facephi, which launched a platform for continuous identity and session fraud checks in October, says its technology verifies identities during onboarding and keeps monitoring risk throughout the customer relationship. The companies did not say which Facephi products EgyptTrust will deploy.
The partnership is aimed at securing access, identity and services for EgyptTrust’s customers. The companies pointed to fraud risks across digital activity, from opening and accessing bank accounts and signing contracts to using government platforms, and particularly in sensitive areas such as certified digital signatures, where fraudsters may try to take control of a person’s digital identity.
“For years, our work has been about giving digital transactions in Egypt the same certainty as those carried out in person. That certainty starts with knowing who is on the other side of the screen,” said Mohamed Kiwan, CEO of EgyptTrust. “With Facephi, we are adding a specialized layer of identity verification and fraud prevention to our platform, so that our customers can grow digitally without opening the door to fraud.”
“Identity fraud doesn’t wait for the first transaction; it starts at sign-up,” said Carlos Oderiz, strategy director at Facephi, adding that the two companies can offer EgyptTrust’s customers “an end-to-end onboarding solution built around fraud prevention.”
The companies marked the agreement at Cairo ICT, the technology exhibition held in Cairo from November 7 to 10, and Facephi said it strengthens its presence in Egypt and across the Middle East and Africa.
Sources: MarketScreener
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By the ID Tech Editorial Team
