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Verofax is the Winner of Bahrain Islamic Bank's 'BisB Innovation Challenge'

Verofax is the Winner of Bahrain Islamic Bank s BisB Innovation Challenge
BAHRAIN, Jan 25, 2021 - (ACN Newswire) - Bahrain Islamic Bank (BisB), a leading Bank in the Arab Gulf region, has announced Verofax as winner of the BisB Innovation Challenge , a Fintech Competition run as part of the Bank s partnership with FinHub 973: CBB (Central Bank of Bahrain) Digital Lab , the Kingdom s open application programming interface (API) innovation platform. Verofax, a mature and enterprise-ready service provider, was selected after rigorous screening to ensure a solution with the requisite level of feasibility and security to maintain the confidentiality and security of customers financial data. ....

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Bahrain Business: Verofax wins BisB Innovation Challenge

Bahrain Business: Verofax wins BisB Innovation Challenge
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Generation Start-up: How Abu Dhabi's Verofax is helping companies combat counterfeiting

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There can be no good without evil. The globalisation of trade and the rapid proliferation of e-commerce and social media have boosted the capacity of organised criminals to sell fake goods with greater speed and efficacy.
For entrepreneurs Wassim Merheby and Jamil Zablah, the co-founders of blockchain-based traceability start-up Verofax, this is as an opportunity to “fill market gaps” and “empower businesses as well as consumers”.
Abu Dhabi-based Verofax offers a unique solution to businesses looking for compliance and brand protection, including serialisation, traceability and anti-counterfeiting solutions. All products are blockchain registered to prevent forging and tampering.
“Not only authenticity … but the high quality characteristics, such as ‘organic’ or ‘sustainability’, can also be verified through Verofax,” Mr Merheby, 49, tells ....

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