Enhancing Financial Inclusion: How a SaaS KYC Due Diligence Firm Builds Data-Driven Relationships Across Borders

Over half of the world’s working adults, totaling 1.4 billion people, lack access to financial services, particularly in low-income populations of emerging and developing economies. Bridging this gap and providing trusted financial services is crucial in empowering individuals to make economic decisions and break free from poverty. In this interview, we spoke with Samuel Logan, Founder and CEO of Evidencity, to explore how his firm facilitates financial inclusion in Latin America through data-driven strategies.

  1. Streamlining Data Communication – Data Taxonomy

The global banking sector faces significant challenges in gathering, processing, and sharing data due to inconsistent data supply landscapes. Evidencity has developed a technology ecosystem and methodology to establish a standardized data communication approach that benefits both developed and emerging markets. This data structure helps bridge existing gaps in the system that have historically facilitated fraud and money laundering activities.

  1. Enhancing Efficiency – Creating Data Efficiencies

Underdeveloped and emerging economies often struggle to serve a large portion of their population due to time-consuming and costly KYC (Know Your Customer) due diligence processes. Leveraging technology and AI-driven procedures, Evidencity enables efficient verification of customer and financial data. This empowers financial services to scale their services and product offerings while effectively catering to a larger percentage of their population.

  1. Fostering Data Accessibility – Building Relationships

Building relationships is crucial for achieving data accessibility, which, in turn, drives financial inclusion. Evidencity facilitates communication and data sharing among financial institutions, promoting consistency and transparency across different jurisdictions. This fosters a system of transparency that ensures compliance with regulatory requirements, transcending borders and facilitating cooperation.

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