The State of KYC in Africa
Everything you need to know about the African KYC landscape and the impact of emerging fraud trends on African businesses.
Overview
Smile Identity has run over 30 million KYC checks across the continent of Africa making us the largest KYC provider with the widest coverage in the region. This report provides an overview of Africa's current KYC practices and fraud trends based on our data. The report's main goal is to help businesses understand the current landscape and develop new strategies to strengthen their KYC and identity verification processes.
What you will find in this report:
- The current KYC processes in Africa and the adoption of robust digital ID infrastructure
- The most common fraud techniques in Africa
- The most vulnerable industries in Africa
- How to identity and prevent fraud for your business
More insights from this report
- The most comprehensive ID coverage on the continent
- 99.8% accuracy in recognizing African faces of all skin tones
- 84% User Approval Rate in both text and biometric-based verification
A sneak peek of the report:
99.8%
Accuracy on Burundian IDs
87%
Fraud reduction for banks
400M+
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