Fintechs FinGo and Croma enter a partnership

FinGo and Croma Security Solutions have entered a strategic partnership to expand access to their customer base. 

The UK-based fintech company FinGo is known for being the first biometric identity authentication and payments platform. This finger-mapping technology is used for payment, verifying age, accessing buildings and many other services. 

Croma Security Solutions Group plc, with their head office based in Hampshire, is a holding company for a group of four security companies and describe themselves as ‘ex-military security professionals’. 

This new strategic partnership is predicted to strengthen each company’s solutions. FinGo’s non-invasive biometric technology and Croma’s global customer base will go hand in hand. 

FinGo’s Vein ID technology scans a person’s vein pattern through infrared light, connecting it to their registered FinGo account and links to their verified ID to enable payments and identity authentication.

The Home Office is planning on trialing the fintech company’s platform later this year and will test its efficiency in regards to age verification for selling licensed goods. 

Security service Croma is using FastVein biometrics in the retail, education and construction sectors. The partnership will create a vast amount of new opportunities for both companies. 

Nick Dryden, FinGo’s Chief Executive Officer, commented: “FinGo is delighted to enter into this strategic partnership with Croma. 

“Our combined capability, coupling many years of experience in the security and access management arena with our payments and digital identity management expertise, will create a unique offering. 

“We look forward to taking the joint offering to market in 2022 and giving existing and new customers an opportunity to deploy one single secure and convenient biometric solution.”

Croma’s chief executive officer, Roberto Fiorentino, emphasized how beneficial the partnership will be for the two companies: “This collaboration will give rise to the sharing of resources and solutions to bring exacting client offerings across a number of verticals in which we each currently operate. 

“We are excited about the opportunity of becoming the absolute leaders in the provision of human identification, biometric payment systems and access control solutions.”