Signing of the Joint-Venture agreement.

Pictured left to right: Jon Jacobson (Co-founder and CEO of Omnisient), Lekhu T Pagarani (Founder, Optiscape Network Holdings) and Tarek Damerji (Founder Tycheros)

Omnisient and Optiscape Network Holdings Launch Joint-Venture to Create Largest Consumer Data Ecosystem in MENA region

  • The joint venture is set to establish the largest anonymized consumer data ecosystem in the Middle East and North Africa (MENA) region, starting with access to 1.4 million consumer records from 40 regional merchants.
  • It will give small to large retailers in the Middle East unprecedented access to rich behavioral and demographic insights from a vast network of participating merchants, enabling more personalized customer experiences and new revenue streams through Retail Media Networks.
  • The ecosystems will operate with the highest standards of data privacy and security on the Omnisient platform for encrypted and anonymized data collaboration.

Dubai, United Arab Emirates, 15 April 2024: Omnisient, the global leader in privacy-preserving data collaboration, and Optiscape Network Holdings, a UAE-based pioneer in Retail and Distribution Investment with a focus on Retail Tech, have today announced the formation of a joint venture that promises to transform the consumer data landscape in the Middle East and North Africa (MENA) region. The new venture, Omnisient MENA, leverages Omnisient’s powerful privacy-preserving data collaboration platform and Optiscape’s expansive network to create the largest consumer data ecosystem in the MENA region.

Upon launch, Omnisient MENA will boast a robust database of 1.4 million consumer records from 40 merchants, with plans to scale rapidly by incorporating records from an additional 5,000 to 7,000 merchants. This initiative marks the first of its kind in the region, aiming to empower retailers of all sizes to unlock new revenue streams by monetizing anonymized data within a secure and compliant framework.

The Omnisient platform already protects over 160 million consumer records in a vibrant data ecosystem comprised of over 80 leading banks, retailers, healthcare providers, and insurance companies in Africa.

“Omnisient MENA is poised to be a game-changer for retailers and FMCG companies across the region,” said Jon Jacobson, CEO of Omnisient. “Thanks to our platform’s ability to securely join anonymised datasets from partnering merchants while upholding the highest standards of privacy and compliance, businesses of all sizes now can gain deep insights into consumer behaviour and preferences and harness the full potential of Retail Media Networks.”

Levelling the Playing Field for Small Merchants

The joint-venture democratizes data analytics by enabling small merchants in the UAE to tap into the kind of consumer insights that were previously the domain of their larger counterparts. By integrating into Omnisient MENA’s vast consumer data ecosystem, these retailers can now leverage anonymized transactional data to enhance their competitive edge, tailor their offerings, and ultimately increase revenue.

Strategic Growth for Larger Retail Enterprises

For more established and larger retailers, the joint venture promises a deeper understanding of consumer behavior, allowing for more personalised customer experiences and promotions. With the support of Omnisient MENA, these retailers can engage in efficient, compliant sharing of anonymised data, fostering a secure, compliant, and collaborative environment that encourages innovation and drives the sector forward.

Leku T. Pagarani, the founder of Optiscape, highlighted the potential impact of the venture: “Omnisient platform is foundational to our goal of creating the largest consumer data ecosystem in the region. With data security and privacy at its core, Omnisient enables us to rapidly scale by onboarding thousands of merchants who might otherwise be hesitant to share their data.”

The joint venture is strategically positioned to expand swiftly, tapping into a vast network of retail merchants to build a comprehensive picture of consumer transactions and trends. This will offer FMCG businesses invaluable insights into product preferences, buying patterns, and market dynamics.

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About Omnisient

Data collaboration enables world changing opportunities for businesses and communities. One of the world-changing opportunities is growing financial inclusion for millions around the world.

To take advantage of this opportunity, Financial Services providers urgently need good quality consumer data. However, they are restricted by tightening privacy regulations, risk of data breach, risk of IP leakage and depreciating value of data, and lengthy times to negotiate and access new data.

Enter Omnisient. Omnisient is the award-winning privacy preserving data collaboration platform that is enabling financial services businesses to securely access high-value consumer data ecosystems in a regulatory compliant manner using advanced Cryptography and AI.

Omnisient is a member of the World Economic Forum’s Technology Pioneer Community, a TechCrunch Startup Battlefield 200 participant, a member of the United Nations Privacy Enhancing Technologies committee, and a Fast Company “Next Big Things in Tech” startup, among other accolades. Established in 2019 in Cape Town, South Africa, Omnisient protects over 150 million consumer profiles for over 80 large businesses.

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Media Contact: Julian Diaz – [email protected]

About the Author

Julian Diaz is Omnisient’s CMO. Julian is a B2B tech marketer for start-ups with over 20 years of experience marketing in USA, UK, Europe and South Africa.