Accurately verify customers anywhere
Screen users against over 1100+ global sanctions, PEP, adverse media watchlists and 170K+ news sources.
Verify users against reliable government sources
Accurately match faces for user-friendly authentication
Access reliable records from Africa's business registries
Automatically spot anomalies to prevent fraud on your platform
Easily confirm bank account ownership
Validate phone number records in South Africa, Nigeria, Tanzania, Uganda and Kenya
Screen users against over 1100+ global sanctions, PEP, adverse media watchlists and 170K+ news sources.
Retrieve personal information from government records and match a selfie to official ID photo.
Match personal information against official government records.
Confirm the identity of an existing user.
Enhanced DocV authenticates and cross-references documents with government databases in one step.
Retrieve business records and stakeholder information from the official business registry
Identify users attempting to create multiple accounts using facial biometrics.
Retrieve personal information from official government records.
Verify the authenticity of an ID document and match a selfie to the ID card photo.
KYC Documents refer to the formal documentation used to verify a customer's identity and address during Know Your Customer (KYC) procedures. Financial institutions and other regulated entities are required by Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) regulations to collect and verify KYC documents to mitigate the risk of money laundering and other financial crimes.
The specific KYC documents required can vary depending on the regulations, risk assessment of the customer, and the organization's internal policies. However, common types of KYC documents include:
Documents establishing an individual's legal name, date of birth, and photograph. This can include:
Passport
National ID Card
Driver's License (in some jurisdictions)
Government-issued birth certificate (in some jurisdictions)
Documents verifying the customer's residential address. This can include:
Utility bills (electricity, water, gas)
Bank statements
Tax documents
Rental agreements (with proof of ownership verification for landlords)
The Financial Action Task Force (FATF) sets international standards for AML/CFT compliance, including KYC requirements.
Regulatory bodies within specific regions may have additional or stricter KYC requirements. For example, some regions might mandate proof of income or beneficial ownership information for certain types of customers.
Also read: The Central Bank of Kenya Guidelines on Anti-Money Laundering and How to Meet Them
Smile ID's identity verification solutions can streamline the KYC document collection process. Our document verification solution can:
Our solutions can facilitate the secure capture of clear and authentic KYC documents through mobile apps or web interfaces.
Using Optical Character Recognition (OCR) technology, Smile ID can automatically extract relevant information from KYC documents, reducing manual data entry and errors.
Our solutions incorporate advanced checks to identify fraudulent or tampered documents, enhancing the reliability of KYC verification.
Smile ID matches the user's selfie against reliable sources, including government ID databases, to confirm identity.
Our system scans a user's selfie against a database of previously verified faces to identify potential duplicate accounts.
Our solution includes liveness detection and spoof prevention measures to ensure the user is physically present during verification.
Smile ID's facial recognition technology is designed to perform well with faces of all skin tones, with a real-time matching accuracy rate of 99.8%.
KYC Documents play a vital role in KYC compliance and AML/CFT efforts and Smile ID remains a partner in providing secure and efficient solutions for KYC document verification, ensuring businesses can meet regulatory requirements while providing a seamless customer experience.
We work with some of the biggest FinTechs and banks in Africa and can help your business stay focused on growth while we handle your customer’s identity verification lifecycle. To speak to one of our experts and learn more, book a free demo here.
We are equipped to help you level up your KYC/AML compliance stack. Our team is ready to understand your needs, answer questions, and set up your account.