The State of KYC in Africa Mid-year Report: H1 2022
This report is a must-read for any business looking to strengthen its user acquisition and fraud prevention efforts.
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
Fraud attempts increased by 30% in the first half of 2022
BNPL and investment & savings experience more than 30% biometric fraud
48% of biometric fraud were cases of identity theft
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