uqudo, the digital identity company in the MEA region, has entered into a collaboration with Tamara, a fintech platform in Saudi Arabia and the GCC region.
This strategic partnership represents “a significant milestone in the financial landscape of the GCC, poised to elevate digital transactions within the BNPL sector.”
Tamara, headquartered in KSA and claiming millions of users and thousands of partner merchants across the GCC, has “been instrumental in reshaping the region’s shopping, payments, and banking sectors.”
Enabling the BNPL landscape, Tamara was reportedly “one of the first companies to secure a permit from the Saudi Central Bank for BNPL services and holds the distinction of being the Kingdom’s first homegrown fintech unicorn.”
In response to the rapid digital growth in the region, “the demand for robust identity verification has surged. uqudo, renowned for its technology and innovative identity platform, will integrate its solutions into Tamara’s BNPL platform.”
This collaboration aims to streamline “the user onboarding process, fortify fraud prevention measures, and ensure a secure experience for Tamara’s expanding customer base.”
Tamara views this partnership as “a strategic move to reinforce its position as the leading BNPL provider in the region.”
Leveraging uqudo’s state-of-the-art technology, Tamara will enhance the overall security of its platform, “providing customers with seamless BNPL transactions without compromising privacy and security.”
Abdulmajeed Alsukhan, Tamara’s CEO and co-founder, said:
“At Tamara, our commitment to being customer-centric is unwavering. Ensuring the security and trustworthiness of our platform is not just a priority; it’s a fundamental part of our mission to empower users. uqudo, with its user-friendly interface, efficient processes, and responsive team, aligns seamlessly with our dedication to delivering fast, easy, and cost-effective customer authentication experiences. This collaboration fortifies our focus on putting our users first and upholding the highest standards of privacy and security.”
Benjamin Haas, CCO of uqudo, expresses excitement about the partnership, stating:
“We are excited to partner with Tamara to elevate digital identity verification in the BNPL sector. Our proprietary technology will provide Tamara’s users with a seamless experience, setting a new standard for trust in digital transactions.”
This partnership is poised to improve the BNPL industry, “setting new standards for user experience, security, and innovation.”
A digital identity and eKYC company, uqudo says it “adopts advanced digital identity technology that includes the KYC verification of national IDs and passports from around the world using powerful AI technologies, cognitive document analysis, superior facial recognition and liveness detection.”
This enables users to experience “a fast, secure and frictionless onboarding process whilst protecting the organisation from fraudulent activities, ensuring the organisations are fully compliant with KYC, AML and CDD regulations.”