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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.
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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

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A sneak peek of the report

Fraud rates peaked at 28% despite slowing growth in the second half of 2022

Around 50% of fraud in all industries goes undetected with textual KYC alone

6% overall downtime resulted from unscheduled outages of ID databases

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