ZORRZ, a London-based fintech start-up focused on empowering financial inclusivity and security, has announced its partnership with IDnow, a leading European identity verification platform provider, to revolutionize customer onboarding for their innovative credit solution, the BlueAccess Card.

Aiming to democratize access to credit, ZORRZ is set to launch the BlueAccess Card, a hybrid credit card specifically designed for immigrants, individuals with past credit challenges, students, those with learning or physical disabilities, and other groups currently excluded from mainstream credit.

The card features integrated Buy Now, Pay Later (BNPL) functionality, providing consumers greater financial flexibility to split payments for purchases. ZORRZ also offers an AI-powered Application Programming Interface (API) generating a comprehensive Financial Health Score, an alternative to conventional credit scores.

“The mission of ZORRZ is to provide responsible and seamless access to credit, fostering financial inclusivity through secure and innovative solutions,” says Priyesh V. Mistry, Managing Director at ZORRZ. “Our collaboration with IDnow signifies our commitment to combating fraud while ensuring a frictionless experience for our customers. IDnow's cutting-edge AI-driven identity verification aligns perfectly with our ethos of delivering both security and a smooth onboarding journey.”

Real-time responses, robust fraud protection, and seamless customer verification

By harnessing IDnow’s advanced AI-based KYC (Know Your Customer) solution, ZORRZ aims to comply with FCA regulations, ensuring real-time responses, robust fraud protection, and seamless customer verification. IDnow’s automated document verification, including a face biometric comparison with liveness detection, will empower ZORRZ to streamline customer onboarding securely and efficiently.

Doug Pollock, Vice President Customer Success at IDnow, comments: “We are thrilled to collaborate with ZORRZ in redefining customer onboarding experiences in the UK. Our AI-powered, automated identity verification solutions are designed to make KYC and anti-money laundering processes an enabler rather than a barrier for innovative ventures like ZORRZ. This partnership is an excellent foundation for future expansions, leveraging our expertise in multi-jurisdiction compliance and our extensive European presence.”

In a bid to break down the barriers of bias in AI-powered facial verification, IDnow is participating in the MAMMOth project, collaborating with 12 European partners, including academic institutions, associations, and private companies. Funded by the European Research Executive Agency, the three-year project aims to study and mitigate biases in AI algorithms, particularly in areas such as assessment of loan applications, academic evaluation, and face verification applied to identity verification. This initiative underscores IDnow's commitment to ensuring fair and reliable algorithms, promoting inclusivity, and addressing concerns of underrepresented groups affected by biases in identity verification processes.

The partnership between ZORRZ and IDnow signifies a leap forward in revolutionizing credit accessibility, combining ZORRZ’s commitment to inclusive financial products with IDnow’s expertise in secure and seamless identity verification. This collaboration promises to pave the way for a more inclusive, secure, and accessible financial landscape for all consumers.