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Tag: Tunnel

  • Prembly acquires Tunnel to improve compliance and security infrastructure in Africa

    Prembly acquires Tunnel to improve compliance and security infrastructure in Africa

    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.

    Read also: US Contributes $316 Million to Ghana’s Energy Infrastructure Through Kasoa BSP

    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.

    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.

  • Prembly buys Tunnel, legal data sharing company

    Prembly buys Tunnel, legal data sharing company

    Prembly, a top Nigerian compliance and security infrastructure company for emerging markets, announced on Monday that it had bought Tunnel, a company that helps businesses share legal data with each other.

    This smart purchase adds to the wide range of security options that Prembly already offers. It also fits with the company’s goal of expanding its financial services by making it easy to check someone’s name by integrating all of their financial data.

    Identity identification has always been based on how important financial information is. By adding Tunnel’s services to Prembly, the goal is to give companies a powerful tool for scaling by giving them access to real-time customer information from different sources through a single API.

    Tunnel lets regulated providers access, use, and share useful data by connecting lenders to high-quality data and stable technology. In turn, this makes it easy for customers to use a wide range of banking services.

    Lanre Ogungbe, CEO of Prembly, said this about the acquisition:

    We know that each market has its own problems, and we’re excited to say that we’ve bought Tunnel. This fits with Prembly’s main goal, which is to protect businesses and help them grow by giving them strong security and safety infrastructure.

    This is also a big step in the company’s growth, and it shows how committed it is to building strategic partnerships and collaborations to grow its service offerings. PhoneCash, a first-of-its-kind fintech product from Prembly, has helped change the way customers send and receive money, making payments quick and easy.

    With this purchase, the business will change in a big way, creating an environment that will make it easier to share data and reduce risks through better customer verification.

    Read also: Cybersecurity: Norton’s free app ‘Genie’ will spot and stop online scams

    About the Tunnel and Prembly acquisition plan

    Tunnel’s Co-Founder and CEO, Tobi Okedeji, said, “We are happy to join forces with Prembly as we combine our solutions into a large compliance and security network. This purchase is part of an effort to give businesses more power, especially by giving them useful customer information and insights.”

    Tobi Okedeji, Yusuf Badmos, and Ibraheem Lanre started Tunnel (Usetunnel Limited). This creative company focuses on data analytics and infrastructure. Their main goal is to make it easier for businesses to share legal data.

    On the other hand, Prembly gives companies in more than 40 African countries a safe place to do business that they can trust. It also makes sure that businesses that want to sell in Africa can do so safely. 

    The two companies will work together to provide more services, which will benefit both businesses and customers.

    Namibia’s banking regulator works with Nigeria’s Prembly

    About Prembly

    Prembly, a Nigerian startup known for its Y Combinator-selected product Identitypass, is making big strides in the African startup space as it looks to spread its services to new and emerging markets.

    Since it was founded in 2021, the company has built a strong name by making security products that meet the needs of businesses in emerging markets. 

    Prembly recently changed its focus to include things other than KYC, fingerprints, and data verification. This is because the company has noticed that more and more people want better digital security services.