CREDITINFO LAUNCHES GLOBAL FRAUD AND IDENTITY SOLUTIONS IN TANZANIA

Creditinfo Tanzania Board Chairman Israel Kamuzora (left) exchanges views with Deogratias Mnyamani from the Bank of Tanzania (centre) shortly after the launch of a new service known as Fraud and Identity Solutions, aimed at helping financial institutions identify fraudulent borrowers. Creditinfo Tanzania Chief Executive Officer Edwin Urasa is pictured on the right.

NEW SOLUTIONS TARGET DIGITAL FRAUD, IDENTITY THEFT AND FINANCIAL CRIME AS TANZANIA’S DIGITAL FINANCIAL SERVICES EXPAND

DAR ES SALAAM, TANZANIA – SEPTEMBER 7, 2026: Creditinfo, a global provider of credit information and risk management solutions, has announced the rollout of its global fraud, identity and Know Your Customer (KYC) solutions in Tanzania, marking an important development in efforts to strengthen trust, security and risk management across the country’s rapidly evolving digital financial services ecosystem.

The launch comes at a time when Tanzania’s financial sector is undergoing significant digital transformation, with banking, lending, insurance and payment services increasingly being delivered through digital channels.

Deogratias Mnyamani from the Bank of Tanzania speaks during the launch of a new service known as Fraud and Identity Solutions, which is designed to help lending financial institutions identify fraudulent borrowers. The service is provided by Creditinfo Tanzania.

Digital lending, instant payments, remote account opening and other technology-driven services have made financial services faster and more accessible to individuals and businesses. However, the expansion of digital channels has also created new opportunities for financial crime, including identity theft, impersonation, synthetic identities and application fraud.

Against this backdrop, financial institutions and other organisations are under increasing pressure to strengthen their fraud prevention and customer verification capabilities while ensuring that legitimate customers can access financial services efficiently.

STRENGTHENING CUSTOMER VERIFICATION AND FRAUD PREVENTION

Creditinfo’s new solution is designed to help organisations verify the identities of individuals and businesses by combining credit bureau data, alternative information sources and authoritative registries.

Pius Hilla, Director of Legal Services at the Financial Intelligence Unit (FIU), speaks during the launch of a new service known as Fraud and Identity Solutions, aimed at helping financial institutions identify fraudulent borrowers.

The platform also brings together digital risk signals with international and domestic watchlists, giving organisations a broader view of potential risks during customer onboarding and throughout the customer relationship.

This capability could be particularly relevant for banks, digital lenders, fintech companies, insurers, payment service providers and other businesses that increasingly rely on remote customer interactions.

By strengthening identity verification at the point of onboarding, organisations can potentially identify suspicious or high-risk applications earlier while reducing unnecessary barriers for legitimate customers.

DETECTING SUSPICIOUS TRANSACTIONS AND MULE ACCOUNTS

Beyond customer onboarding, Creditinfo’s solution includes transaction monitoring capabilities designed to identify suspicious account activity and behaviours associated with mule accounts.

The technology can also help organisations detect authorised push payment (APP) fraud associated with scams and unusual activity as part of broader anti-money laundering (AML) monitoring efforts.

Some of the participants who attended the launch of the new Fraud and Identity Solutions service provided by Creditinfo Tanzania pose for a group photo with the company’s leaders and guests from the Bank of Tanzania and the Financial Intelligence Unit (FIU), shortly after the launch.

This is increasingly important as digital payments become a larger part of everyday commerce and financial transactions in Tanzania.

For financial institutions, the ability to identify unusual behaviour across the customer lifecycle could strengthen existing fraud controls and provide additional intelligence for risk-based decision-making.

WHAT THIS MEANS FOR TANZANIA’S FINANCIAL SECTOR

Creditinfo’s entry into the Tanzanian market comes as financial institutions and technology companies seek to balance two important objectives: expanding access to digital financial services while maintaining trust and security.

The solution could provide several potential benefits to the market.

1. STRONGER DIGITAL CUSTOMER ONBOARDING

Banks, fintechs and other financial service providers can potentially improve the verification of customers opening accounts or applying for financial products remotely.

2. BETTER FRAUD DETECTION

The combination of identity information, risk signals, watchlists and transaction monitoring can provide organisations with additional tools to identify suspicious behaviour and potential financial crime.

3. PROTECTION FOR BUSINESSES AND CUSTOMERS

Stronger fraud controls can help reduce the financial and reputational impact of identity theft, impersonation, application fraud and other forms of digital financial crime.

4. SUPPORT FOR DIGITAL FINANCIAL INCLUSION

Effective risk management can also support financial inclusion. When institutions have better information to assess customers, they may be able to make faster and more informed decisions while reducing reliance on overly restrictive controls.

5. GREATER CONFIDENCE IN DIGITAL PAYMENTS

As Tanzania continues moving towards a more digitally enabled economy, confidence in the security of digital transactions will be increasingly important for consumers and businesses.

LOCAL ADAPTATION FOR THE TANZANIAN MARKET

Creditinfo said the Tanzania rollout forms part of its wider international expansion of fraud and identity capabilities and follows deployments in Kenya and Uganda.

Although the technology provides a global foundation, Creditinfo said its solutions have been adapted to different regulatory environments, data sources and local risk profiles.

This local adaptation is significant because effective fraud prevention depends not only on technology but also on access to relevant local data and an understanding of the specific risks facing each market.

CREDITINFO: TRUST IS BECOMING INCREASINGLY IMPORTANT

Rob Meakin, Director of Fraud and Identity at Creditinfo, said the growing digitalisation of financial services requires organisations to make fast and informed decisions about the people and businesses they interact with.

“As financial services become more digital, organisations need to be able to make fast, informed decisions about who they are dealing with and the level of risk they present,” Meakin said.

He added that Creditinfo’s expansion into Tanzania brings together data, technology and fraud intelligence to help organisations strengthen their decisions while keeping the customer experience at the centre.

Creditinfo Tanzania Chief Executive Officer Edwin Urasa said trust was becoming increasingly important as organisations manage more digital interactions with customers.

“Having a clear view of who they are dealing with and the risks associated with each interaction is essential to protecting both businesses and their customers,” Urasa said.

He said the Fraud and ID solution gives organisations in Tanzania access to data and intelligence that can support more informed decisions, stronger fraud controls and greater confidence throughout the customer journey.

WHY THIS DEVELOPMENT MATTERS

The launch represents more than the introduction of another technology solution to Tanzania’s financial services market.

As more financial transactions, customer applications and business interactions move online, digital identity and fraud management are becoming critical components of financial-sector infrastructure.

For Tanzania’s banks, fintechs, insurers, digital lenders and payment companies, stronger identity and fraud intelligence could become increasingly important in managing risks associated with rapid digital growth.

The development also highlights a broader shift in financial services: the ability to provide convenient digital services must increasingly go hand-in-hand with the ability to establish trust, verify identity and detect suspicious behaviour.

For businesses, this means investment in fraud prevention is increasingly becoming part of protecting not only financial assets, but also customer relationships, brand reputation and confidence in digital financial services.

As Tanzania continues to deepen digital financial inclusion and expand its digital economy, the availability of sophisticated fraud and identity capabilities could therefore play an important role in building a safer and more trusted financial ecosystem.

ABOUT CREDITINFO

Established in 1997 and headquartered in London, UK, Creditinfo is a global provider of credit information and risk management solutions.

The company provides credit bureau, business information, risk management, software and decision analytics solutions to lenders, governments and central banks globally.

Creditinfo operates more than 30 credit bureaus and supports organisations seeking to improve access to finance, strengthen risk management and promote financial inclusion.

Source: Creditinfo

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