TOTM Technologies have entered into an exclusive cooperation partnership with agreements for a convertible loan worth US$3.75 million ($5.13 million) which will go towards supporting CDI’s Platform Bersama venture.
Digitalization and the pandemic have accelerated and driven up interest for identity verification and management solutions in Indonesia. This partnership hopes to provide fast and cost-effective Verification-as-a-Service to Indonesia’s private sector. Earlier this year, the Indonesian Directorate General of Population and Civil Registration and Ministry of Home Affairs (Dukcapil) awarded CDI to establish Platform Bersama (joint platform) license, to serve the needs of identity verification and management solutions for SMEs in Indonesia.
This sees CDI facilitating Dukcapil in providing small and medium enterprises (SMEs) access rights over identification and face photo data, for quicker verification and authentication. TOTM’s subsidiary InterBIO will take a leadership role in delivering identity management solutions to CDI’s customers with its existing suite of biometrics solutions such as BioCheck, BioCode and BioWatch as well as passive liveness eKYC solutions offered by GenesisPro, another TOTM subsidiary.
Ultimately, this partnership looked to provide systems integration services to the Indonesian government.
Links:
https://identityweek.net/totm-technologies-invests-us3-75-million-in-cdi/https://sg.news.yahoo.com/totm-technologies-invests-us-3-092806480.html