Smile Identity, a leading provider of digital identity verification solutions for Africa, has released its highly-anticipated end-of-year 2022 Know Your Customer (KYC) report. Using data from nearly 50 million KYC checks from different industries, this comprehensive report provides in-depth insights into the current state of KYC trends, policies and best practices across the region. Despite the economic challenges faced by Africa and the world in 2022, the continent saw sustained investment in technology, demonstrating the importance of digital identity infrastructure. As businesses prepare for a potential global recession in 2023, they are focusing on maximising profitability and capital-efficient growth. Against this backdrop, Smile Identity’s report highlights the crucial role of tailored onboarding processes. By collaborating closely with ID authorities and clients, the company has achieved high pass rates while preventing fraud, safeguarding user data, and ensuring compliance with new data protection regulations.
SOURCE: DISRUPT AFRICA