Identity verification company iiDENTIFii has appointed co-founder and former chief technology officer Marco Wagener as CEO, as the South African firm expands its presence in Africa and the UK.
Founded in 2018, Cape Town-based iiDENTIFii provides biometric identity verification technology used by banks and other regulated organisations.
In 2022, the company raised $15 million (about R272 million at the time) in what it described as Africa's largest Series A funding round in the identity verification sector.
The leadership change comes as organisations face growing concerns over AI-enabled identity fraud.
According to iiDENTIFii, generative AI has accelerated cybercrime, including what the company said is a 740% year-on-year increase in iOS injection-attack tradecraft.
"His appointment brings continuity in purpose, leadership and ambition, with renewed focus as the business scales and helps shape the next generation of identity verification from Africa to the world," said Larry McCarthy, chairperson of iiDENTIFii.
Having guided the company's technical and commercial strategy since its inception, Wagener will focus on transitioning the business from a remote biometric identity verification platform to continuous digital identity infrastructure.
"Digital trust is breaking faster than the controls protecting it," Wagener said.
"Our focus is on scaling iiDENTIFii's strategic direction, strengthening our market position across Africa, and continuing to build trusted digital identity infrastructure for institutions and their customers."
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