Marco Wagener Appointed CEO After Leading iiDENTIFii Technology and Product Strategy Amid Rising AI-Powered Identity Fraud

Marco Wagener | image supplied

Wagener, the company's former chief technology officer, succeeds to the role after leading its technology and product strategy since iiDENTIFii's launch. The board said the appointment formalises leadership responsibilities he has been carrying out in recent months.

The company provides identity verification services to banks, payment providers, mobile network operators and public sector institutions across South Africa, the rest of Africa and the UK.

Rising identity fraud pressure

The appointment comes as businesses face increasingly sophisticated identity fraud driven by advances in artificial intelligence. iiDENTIFii said its 2024 Identity Index found that 59.2% of surveyed organisations identified AI-powered fraud as the biggest emerging identity threat, while citing industry data showing a sharp rise in automated identity attacks.

According to Mordor Intelligence, the global digital identity market is expected to grow at a compound annual growth rate of 17.54% over the next five years, with government digital identity initiatives expected to support growth across Africa.

Platform expansion and leadership continuity

Wagener said identity verification is evolving beyond once-off onboarding checks as organisations seek continuous methods of verifying users throughout digital transactions.

"What began as a remote biometric identity verification platform has evolved into identity infrastructure for a world where trust cannot stop at onboarding," he said.

The company said it is expanding its platform to support reusable digital identities, verifiable credentials and identity-linked payment credentials as demand grows for more secure digital identity systems.

iiDENTIFii chairperson Larry McCarthy said Wagener's appointment provides continuity as the company enters its next phase of growth and expands its digital identity offering.

Founded in South Africa, iiDENTIFii has grown from a biometric identity verification provider into an enterprise identity platform serving organisations across multiple sectors and international markets.