In this episode, the CEO and co-founder of Identity Pass, Lanre Ogungbe, shares the story behind the company and its mission to provide a world-class compliance and security infrastructure for Africa.

The company offers a variety of products, including biometric authentication, data and document verification, and compliance and data security solutions.

With over 1 million verifications processed since launch, Identity Pass charges between 10 and 20 cents per verification based on the number of endpoints a business connects to.

Yemi discusses with Lanre about the differentiation of Identity Pass from other players in the AML/KYC compliance space, the challenges of acquiring business customers, and the potential for future growth and expansion.

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Timestamp

00:00 - Intro

00:31 - Story from the Trenches

04:41 - What is Identity Pass?

07:11 - Innovations enabled by products Identity Pass offers

10:16 - Why does identity verification have so many players

15:51 - Dynamics within the the industry that allows for multiple companies

20:51 - Opportunities for players in the industry to share APIs

23:56 - How would a customer know Identity Pass is the right one for them

27:31 - How does wide range of business product create better outcomes for Identity Pass

32:15 - Interesting stats worth knowing

36:06 - Components that had to be put together to make Identity Pass work

41:30 - How much Identity Pass makes per business acquired

46:06 - Business Margin for Identity Pass

52:51 - What a typical sales cycle looks like

55:06 - How Identity Pass got it's first customer

56:56 - Stereotyped faced being seen as Gen Z

59:56 - Bull Case for Identity Pass

1:02:16 - Outro