Prembly, a leading provider of compliance and security infrastructure for developing markets, recently made the announcement that it will be acquiring Tunnel, a forward-thinking firm that facilitates the legal exchange of data between organizations.
Prembly’s security suite is improved as a result of this integration, and the expansion of financial services is made possible by the powerful identity verification made possible by the thorough integration of financial data.
Tunnel, a data infrastructure and analytics company, has established itself as a trusted partner in the credit and identity sector by connecting lenders to high-quality data and sustainable technology. This has enabled Tunnel to become a market leader in the credit and identity industry.
PhoneCash, the company’s groundbreaking financial technology offering, enables clients to send money as soon as possible. enterprises are given access to real-time consumer information from numerous sources through the use of a single API thanks to the integration of Tunnel’s services, which offers these enterprises with a powerful tool for scaling.
Prembly made the strategic decision to incorporate Tunnel into its already existing identity verification solutions after seeing the significance of the incorporation of financial data as an essential part of the identity verification process. They are aware of the many difficulties that can be encountered in the various marketplaces, and it gives them great pleasure to announce that they have acquired Tunnel. In the words of Lanre Ogungbe, CEO of Prembly, “We understand the unique challenges faced across the markets, and we are thrilled to announce the acquisition of Tunnel. This aligns with Prembly’s core mission to protect and enable businesses to thrive by providing robust compliance and security infrastructure.” Prembly’s main aim is to protect and enable businesses to thrive.
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Why Tunnel was a good acquisition by Prembly
Tunnel was established with the intention of easing the access, utilisation, and exchange of regulated data among service providers. This would allow users to gain access to a variety of different streams of financial solutions.
Tunnel’s co-founder and current CEO, Tobi Okedeji, has expressed his delight in the company’s recent partnership with Prembly. He emphasized the importance of integrating their respective products into a comprehensive compliance and security network. This strategic purchase enables organisations to become more self-sufficient by providing them with information about their customers that can be put into action as well as important insights.
This has a substantial impact on Prembly’s business operations, allowing for the creation of an ecosystem with the potential to enhance data exchange and reduce risks associated with client verification. It is a watershed moment in the evolution of the company and reaffirms the firm’s unwavering commitment to cultivating strategic alliances and partnerships in order to broaden the scope of the services it provides.
About Prembly
Prembly is an infrastructure firm that focuses on compliance and security. The company innovates key infrastructure that is required to improve digital integration across Africa. Prembly, a global leader in identity verification, fraud prevention and detection, and background checks, makes it possible for businesses in over 40 African countries to conduct transactions with trust, and it enables enterprises who are interested in entering African markets to do so safely.
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About Tunnel
Tobi Okedeji, Yusuf Badmos, and Lanre Ibraheem are the three individuals that initially established Tunnel (Usetunnel Limited). It is a data analytics and infrastructure company with the primary mission of facilitating the lawful exchange of information amongst enterprises. Tunnel has established itself as a reliable partner in the field of financial services as a result of the knowledge it possesses in the area of connecting various data lending services and powering financial data.
