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Koosmik Teams Up With Algoreg For Its African Expansion

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Koosmik, a Luxembourg-based FinTech developing mobile financial services and digital wallet solutions, recently announced that they were teaming up with the global KYC solutions provider, algoreg.
(Featured Image: Grégoire Yakan, Founder & CEO of Koosmik / Image Credit © Koosmik)

As it rapidly develops itself in the African market, Koosmik has acquired more than 60 thousand users in just a few months, and needs to properly apply a fast and easy compliant KYC program. That’s where algoreg comes in with their proprietary watchlist screening solution “go!scan” that allows Koosmik to reduce its operational impact and scale up to meet future needs.

In order to offer an even better end-user experience designed to drive African financial inclusion, Koosmik is already in discussions to adopt algoreg’s video-bot enabled ID verification solution, “go!vid”.

“Koosmik is happy to collaborate with a Luxembourgish company like algoreg and can count on their innovative solutions to navigate through heavily regulated financial industries, We hope this is the first of many collaborations to come in Luxembourg and beyond”, says Grégoire Yakan, CEO of Koosmik.

“We understand the challenges when offering financial services in unbanked regions and we clearly see the mutual synergy between our two fast-growing FinTechs.”

Thus, Koosmik is the newest member of algoreg’s diversified customer base of reputable and international clients in payment, crypto-currency and investment funds industries.

CEO of algoreg, confirmed the statement. “We are thrilled to collaborate and set a long-term relationship with Koosmik. We understand the challenges when offering financial services in unbanked regions and we clearly see the mutual synergy between our two fast-growing FinTechs.

Both parties are thrilled to start working together, determined to offer the best possible service to their respective customers, and more importantly, to provide financial services to unbanked populations which represent, in West Africa alone, over 444 million users.

“This collaboration between Koosmik and algoreg, two great Luxembourg Fintech firms and members of the LHoFT, is another great outcome from the rapidly developing and closely knit ecosystem within the Grand-Duchy”, concluded Nasir Zubairi, CEO of the LHoFT.

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