Smile Identity, the premier identity verification and digital Know-Your-Customer (KYC) provider in Africa, has announced its official rebranding as Smile ID. Alongside the new name, the company reveals a fresh logo, an updated website, and exciting product updates aimed at revolutionizing the digital identity verification landscape across the continent.
The decision to rebrand as Smile ID is a strategic move that reflects the company's commitment to simplifying its services and offering a consolidated platform for businesses in need of comprehensive identity verification solutions. By streamlining its operations, Smile ID aims to empower businesses with a single provider capable of meeting all their digital identity verification requirements.
Mark Straub, the Co-founder, and CEO of Smile ID, expressed his excitement about the rebrand, stating, "The simplification of our name—Smile ID—embraces what many people already call us and moves us to a place where businesses can consolidate more services with one provider. Our goal is to provide businesses with enhanced convenience and efficiency when it comes to digital identity verification."
This significant milestone comes just five months after Smile ID's successful Series B funding round, which aimed to expand the company's offerings and pursue ambitious pan-African growth plans. Since then, Smile ID has made considerable strides toward its objectives, launching groundbreaking products and securing strategic partnerships.
Earlier this year, Smile ID introduced a cutting-edge document verification product that enables global businesses to authenticate user-submitted identity documents, such as driver's licenses, by leveraging live selfies. This innovative solution has garnered widespread acclaim for its effectiveness and ease of use.
In April 2023, Smile ID made headlines with its acquisition of Appruve, a prominent ID verification provider based in Ghana. This strategic move further solidified Smile ID's position as a leading player in the industry and expanded its capabilities to better serve businesses and individuals across Africa.
Smile ID's remarkable growth and success align with its mission to bridge the digital identity gap in Africa. As staggering as it may sound, an estimated 500 million Africans lack proof of legal identity, which hampers their access to essential digital civil and financial services. Smile ID recognizes this pressing issue and is determined to provide a comprehensive suite of solutions that empower individuals and drive economic progress across the continent.
Access to banking services stands out as a crucial challenge for many Africans. The World Bank reports that a staggering 57% of individuals in Africa do not have a bank account, largely due to the lack of proper identity documentation required for KYC processes. Smile ID's advanced solutions aim to address this issue by going beyond basic identity verification and providing businesses with the necessary tools to onboard customers securely and efficiently.
Mark Straub emphasizes Smile ID's commitment to catering to the evolving needs of businesses in Africa, stating, "KYC in Africa is evolving and maturing, and businesses need a lot more than identity verification. They need access to global AML and watchlists; they need to verify the IDs of people from around the world doing business in Africa and support Africans as they travel."
To combat fraud and enhance security measures, Smile ID recently launched Smile Secure, a groundbreaking tool that scans previously verified faces. This innovative technology alerts businesses if a user has signed up before, helping them identify potential fraudulent activities and safeguard their operations.
Furthermore, Smile ID has introduced Smile Links, a game-changing feature set to launch on August 1, 2023. Smile Links are pre-built flows that enable end users to effortlessly take a selfie, input their ID numbers, or upload relevant documents. Businesses utilizing Smile's services can customize these links to align with their specific requirements, offering a seamless and efficient onboarding experience for their customers.
Play audio
No comments