Lazika capital, the leading microfinancing organization of Western Georgia is adopting Identomat, identity verification and KYC system to remotely onboard customers. The process has kicked off following the approval from the National Bank of Georgia. According to Georgia’s main financial regulator, Identomat is eligible to be used by Lazika capital in their business practices. The collaboration will be monitored by the National Bank of Georgia to ensure customer protection and that digitally transformed business practices are in line with the Georgian legislation. The news is timely given the global health crisis, making it even more paramount to embrace online ID verification to streamline the onboarding process.

Lazika Capital was founded in 2000, with the aid of International British Organization Oxfam and other donor organizations. It operates in Georgia’s Western region with more than fifteen service centres and offices in Batumi, Kutaisi and other major cities. From the beginning, the main focus of Lazika Capital has been low and average income farmers and entrepreneurs; providing them with a broad spectrum of financial aid and helping to adhere with the small and average business standards. 

‘The exact effects of coronavirus cannot be foreseen; As time elapses, the aftermath changes and evolves, but social distancing has always been the key element in containment of the outbreak. Therefore, the urgent necessity of simple, fast and safe client authorization and digital identity has been outlined.’ – states Lazika Capital. 

Identomat is an end-to-end solution for KYC and Digital Identity Verification that helps businesses onboard customers using advanced AI technology. Created with the mission to improve, simplify and secure the authorization process for all stakeholders, Identomat has become a high-in-demand product amid the virus outbreak, being adopted by the leading Georgian Insurance Company – Aldagi. Priority of Identomat has always been safety of collected data and fast and simple onboarding. Being a perfect fit for industries such as retail, IT and telecom, banking, financial services and insurance, government and defense, healthcare and others, Identomat has become a key element in providing easy and quick user experience for its partners. 

“We take great pride that we have been approved by the National Bank of Georgia as a relevant and appropriate platform for Lazika Capital. We make it our mission to enable our partners to offer frictionless remote onboarding to their customers. In addition to significant cost-savings and improved user experience, Identomat’s automated digital identity verification has become a critical tool for business continuity in the times of a pandemic. Since their inception, Lazika has been a great facilitator of small business growth in Georgia and we hope to see their continued success and would like to think of ourselves being a part of it,” says Identomat’s CEO David Lomiashvili.

Identomat tirelessly works in the direction of expanding its horizons and offering refined and advanced technology to simplify client onboarding without jeopardizing security. Having a partner like Lazika Capital is a stimulus to keep on improving our technology to provide businesses with a reliable ally in safe identity verification. 

About Identomat

Identomat is a KYC (Know Your Customer) and Identity Verification solution, developed in Tbilisi, Georgia. Relying on its proprietary technology, based on the latest advances in Artificial Intelligence and Machine Learning, Identomat streamlines the onboarding process, providing organisations and businesses with reliable identity verification and fraud prevention solutions. Please visit https://identomat.com/

About Lazika
Lazika Capital started operation in 2000 as a small credit project launched by Oxfam GB. In 2003, the project separated from Oxfam and started independent operation. Lazika Capital as a microfinance organization provides access to the large spectrum of financial services to small scale rural and semi-urban entrepreneurs and farmers and operates 18 branches across western Georgia. Please visit https://lazikacapital.ge/

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