Identity is a prequisite for the stable, efficient, safe and inclusive financial sector that is envisaged pursuant to Vision 2030. It is the process of identification and a host of menu services that can be included that makes an assurance of safety and accessibility of financial services. Without identity, individuals and corporate entities cannot access the financial sector.
In Kenya, the use of the identification card has mitigated this challenge. However evolution in the financial sector and growth in fraud has posed serious challenges in the form of fraud perperated through identity theft. We need such a registry service as the repository institution for any verification and cross-checking.