Skaleet partners with Smile ID to enhance KYC in Africa

By Gloria Methri

Skaleet, a provider of next-generation core banking solutions, has announced a strategic partnership with Smile ID, Africa’s digital identity verification and fraud detection company. The collaboration aims to enhance customer onboarding processes, ensure regulatory compliance, and improve security measures for financial institutions across the continent.

The partnership leverages Skaleet’s modular, cloud-based core banking platform and Smile ID’s advanced identity verification technology. Together, the companies aim to provide financial institutions with tools to streamline operations, strengthen anti-money laundering (AML) measures, and enhance the overall banking experience for end-users.

Brice Groche, Partnerships Director at Skaleet, emphasised the company’s “Best-of-Breed” approach, integrating top industry solutions into its core banking platform. “Collaborating with Smile ID in Africa allows financial institutions to revolutionise their customer onboarding processes, enhance security measures, and ensure compliance with regulatory requirements,” Groche stated.

Hervé Manceron, Co-founder, Chairman & CEO, added, “I am very pleased with this collaboration with Smile ID because it allows us to offer a comprehensive and robust solution that meets their needs more effectively and will help them to accelerate the development of new high value-added services to their end-users.”

Smile ID, which has performed over 100 million KYC checks to date, is recognised for its ability to adapt to diverse African contexts, including low-bandwidth environments and entry-level devices. The company uses machine-learning algorithms to cater to all skin tones, ensuring inclusivity and accessibility.

Mark Straub, CEO of Smile ID, highlighted the significance of the partnership in combating identity fraud and promoting financial inclusion. “This collaboration brings together two industry leaders with a proven track record of excellence and innovation. Together, we are committed to delivering solutions that combine high-security standards with enterprise-level customisation,” Straub said.

This partnership represents a step forward in the digital transformation of financial services in Africa, offering financial institutions the ability to expand their reach, build trust with customers, and drive financial inclusion.