How ADD™ is Transforming KYC/KYB Compliance Across Africa

As Africa’s digital economy expands, the need for efficient KYC (Know Your Customer) and KYB (Know Your Business) systems has become more urgent. Traditional due diligence processes—often lengthy and manual—create barriers for businesses and individuals who need quick, reliable identity verification. In response, companies across the continent are now integrating innovative digital ID technologies to enhance the speed, accuracy, and accessibility of these checks.

Addressing KYC Challenges Across Africa

Recent insights highlight how Africa is overcoming KYC challenges by embracing technology. Smile Identity, a leader in this space, has conducted over 30 million KYC checks, employing biometric and facial recognition technologies that ensure accuracy across a diverse user base. These advances support financial inclusion by making ID verification accessible on a wider scale. However, many businesses still encounter issues due to reliance on outdated, text-based KYC methods, which can miss up to 50% of fraud in high-risk industries​.

ADD™’s Role in Simplifying Compliance

ADD™ (Africa Due Diligence) is helping transform the KYC/KYB landscape by offering an accessible platform for individuals, SMEs, and large corporations to conduct due diligence effortlessly. Unlike traditional systems, ADD™’s platform enables anyone to verify the identity and legitimacy of other entities in real time, with minimal manual intervention. Through digital profiles and rapid data capture, ADD™’s platform streamlines KYC/KYB checks, allowing clients to meet compliance standards swiftly and effectively.

This inclusive approach ensures that all users, regardless of their size or resources, can complete verification processes that once required extensive time and specialised expertise. ADD™’s platform not only supports anti-money laundering (AML) efforts but also strengthens business transparency and security across African markets​

The Future of KYC/KYB in Africa

With these advancements, Africa is building a secure, efficient digital identity framework that empowers businesses, supports compliance, and fosters trust. As companies like ADD™ continue to innovate, African markets can look forward to more streamlined, user-friendly solutions that enhance regulatory standards and support economic growth.

Sources: Techpoint Africa,Smile ID