MONITORING REPORT DUBAI: VoiceTrust, a global leader and provider of digital payments and voice biometric solutions, has been awarded Dutch government grant for the roll-out of biometrics-based ID services (Proof-of-LifeTM) in Pakistan.
The Private Sector Investment initiative (PSI) is a subsidy programme of the Dutch Ministry of Foreign Affairs and supports innovative investment projects in emerging markets.
“The project was well received by the Committee because the service to be provided is an important step towards delivering banking and financial services to the unbanked population. The reduced transaction costs allow new small businesses to make use of the extensive mobile network in Pakistan,” said Martijn Moonen from PSI.
In his remarks, Tariq Habib, CEO, VoiceTrust, said that the company is honoured to receive the PSI grant and committed to rolling-out Proof-of-LifeTM in Pakistan. Individuals will no longer need to memorize PINs and passwords; they just use their voice to have their identity verified, travelling long distances and waiting in long queues could be a relic of the past.
“Our company is dedicated to bringing innovative solutions in the digital payments arena directly to benefit the consumer and Proof-of-LifeTM supports organisations and local governments ongoing efforts for financial inclusion,” he said.
The PSI project is an investment project, implemented by a Dutch company together with a local company, in one of the eligible developing countries. If this investment meets the criteria, it can be eligible for a grant by PSI.