The open fintech platform for emerging markets

Tórónet Partners with NexeraID to Elevate Digital Transaction Security with Advanced KYC Integration

Long Island, New York, May 9, 2024 — Tórónet, a trailblazer in providing cutting-edge technological solutions to underserved markets, announces a significant advancement in digital security through a strategic partnership with NexeraID that sets new benchmarks for secure and convenient financial transactions. This collaboration introduces Know Your Customer (KYC) integration, designed to enhance transaction security and support and empower African communities by ensuring access to safe, reliable financial services.

Reinforcing Trust with Robust KYC Standards

KYC standards are critical in the current global fintech ecosystem, ensuring that transactions are secure and compliant with international regulations. By implementing these robust processes, Tórónet enhances user protection against fraud, leveraging NexeraID’s technology to build a platform that promotes trust and supports the growth and stability of emerging economies.

Empowering Security and User Experience: NexeraID’s Innovative Compliance Solutions

NexeraID provides a one-stop shop for web3 businesses that want to implement identity verification and compliance processes. By combining traditional and web3 data verifications, they reduce the risk of fraud while enabling user-friendly customer experiences. Their solutions not only enhance security but also streamline processes, empowering businesses to navigate the complexities of web3 compliance with ease.

Driving Real Change: A Commitment to Compliance and Community Empowerment

Our partnership with NexeraID exemplifies Tórónet’s dedication to making a substantial impact—going beyond transactional relationships to foster environments that facilitate sustainable growth and development. The commitment to secure and regulatory-compliant services is driven by our focus on providing real-world solutions to communities and critical sectors across Africa, including rural and farm communities. Endorsed by partnerships like those with the Katsina State Government that have signed on to our Agrifi project to organize and disseminate agricultural inputs to farmers through our platform, the current development brings transparency, immutability, and trust while providing access to payment systems and financing that is key to the process. These initiatives underscore our holistic approach to enhancing the well-being of communities through technology that ensures security, compliance, and empowerment.

Looking Ahead: A Future of Secured and Empowered Transactions

“As we continue to roll out these advanced KYC capabilities, our focus remains firmly on supporting and enhancing the infrastructure that local communities rely on,” says Dr. Wenhai Li, co-founder of Tórónet, alongside Bolaji Akinboro, co-founder and a key leader in technology and entrepreneurship in Africa. “This isn’t just about deploying technology – it’s about weaving these tools into the fabric of daily life to foster sustainable growth and self-sufficiency across Africa. Our partnership with NexeraID is rooted in a shared vision to empower communities from within, ensuring that every innovation is culturally aligned and locally embraced.”

Join us on this transformative journey as Tórónet and NexeraID redefine what it means to secure digital transactions while driving significant social impact.

About Tórónet

Tórónet is a pioneering organization dedicated to transforming lives and empowering underserved communities through innovative solutions. With a strong commitment to humanitarian values, they harness cutting-edge technologies to overcome the limitations of modern infrastructure and bridge the gap in access to essential services. Their mission is to improve the well-being of individuals and communities left behind in the fast-paced world by providing increased access to education, healthcare, financial services, and economic opportunities.

About NexeraID

NexeraID is a compliance and intelligence platform designed for the web3 space, offering innovative solutions that simplify Anti-Money Laundering (AML) and Know Your Customer (KYC) processes. By leveraging traditional and blockchain technologies, NexeraID ensures the security, integrity, and privacy of compliance data, facilitating a secure and regulatory-compliant environment for businesses operating within the digital economy.