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The quintessential entrepreneur of our age relies quite heavily on technology to get their business going. They’ll display their products at an online store, advertise via digital media, take orders from customers on e-commerce platforms, and receive payments electronically. A growing number are also turning to companies like Verifi.ng, for such things as automated salary payments and measuring the creditworthiness of the persons they’re working with.

Verifi.ng is a Nigerian payroll and credit scoring solutions company, working to simplify and speed up business’s salary payments and credit background check processes. While they’re just one of several ventures doing this in the country, they represent a data-driven approach that’s probably still in its infancy in these parts. They aren’t just offering customers the regular salary payment solutions; they’re also helping businesses with the information they need to make the right calls on financially sensitive commitments.

Verifi.ng was founded by two entrepreneurs, Chidozie David Okonkwo and Ebun Okubanjo. Their aim is to offer SMEs, startups and larger scale companies a smart automated way of handling their staff related payments. They’re working with the help of a team of developers, designers and investors to achieve this goal.

One enterprise solution on offer from them is Pay by Verifi, which its builders describe as “an intuitive salary product.” Using this tool, employees are able to pay up to a thousand staff at once, from wherever they are. That’s because it’s accessible from a range of digital devices, including laptops, tablets, and smartphones. It also lets its users spread payments over several days if they wish.

Besides being great for automated salary transfers, Pay by Verify also helps with computing taxes, pensions, health insurance bonuses and deductions from employees’ pay. All of these can be done as quickly as a few minutes, thanks to Verifi’s rapid processing proficiencies.

The setup process for Pay by Verifi is quite straightforward. All you need do is sign up for the service on the Verifi.ng website, add a debit card and upload relevant information about your employees. Once this is done, you’ll be able to pay them using Pay by Verifi.

Another of Verifi’s products is Inform by Verifi. It’s a tool that comes in handy for businesses seeking useful information about the identity and creditworthiness of the persons they’re working with. This technology leverages machine learning and biometrics to curate and evaluate existing data pertaining to a person of interest.

Inform analyzes financial, payroll, mortgage and behavioural data from multiple sources, and produces a credit score for a person of interest based on its reading of the data. But it is totally in the user’s hands to decide how to act on the information it provides.

Verifi.ng is willing to have a representative give a ten-minute demonstration of their product’s functions at the offices of any business interested in their services. If you’re searching for an automated salary payment system that does more than just transfer funds, you may want to try them out.

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This article was first published on 27th September 2018

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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