A deep dive into the state of KYC: user onboarding and fraud in Africa. Mark Straub, CEO of Smile ID and Wiza Jalakasi, Director of Ebanx Africa Market Development share insights.
State of KYC report
With 75 million KYC checks done, Smile ID is out with its third report on the State of KYC, customer onboarding and fraud in Africa. Let's dig in
In 2022, National ID databases in Africa experienced an average daily downtime of 6%, according to Smile Identity's KYC report. This frequent downtime hinders their reliability as a sole verification step in onboarding customers on the continent.