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. “Fraud rates move up and down across countries as growth and user behaviour changes in response to new products, services or changes in regulations,” says Smile ID. “As more businesses across Africa adopt biometrics for identity verification and fraud prevention, more fraud is being caught.”According to Smile ID, 43% of ID fraud caught in the last six months were face mismatches indicating that stolen or lost IDs were used, while 41% were selfie spoofs. I also think the flexibility from providers like Smile ID makes it easy for you to get through to what you are optimising for.

Source: The North Africa Journal August 08, 2023 12:58 UTC