FairMoney: Rethinking the Africa Money Story

FairMoney embarked on its journey in 2017 by offering digital loans, addressing a critical challenge in Africa - limited access to credit.
Recognising evolving customer needs, they expanded their vision beyond mere credit accessibility. In 2021, this evolution reached a milestone when they secured their banking license, transforming into FairMoney Microfinance bank. This marked a pivotal moment as they diversified their services to provide a complete suite of banking solutions.
Currently, their mission is to redefine African finance. An instrumental move in this direction was their recent acquisition of PayForce by FairMoney.
During their transition process, they began having issues with their previous KYC provider and needed to find a partner that could enable them to efficiently and speedily onboard users at high volumes reduce fraud attempts, improve their customers' user experiences, and properly augment their risk evaluation capabilities.
FairMoney found a robust solution in Smile ID's Enhanced KYC product allowing them to verify users against government databases in two seconds. This partnership streamlined their KYC process across the board and seamlessly augmented their risk evaluation capabilities.
Read more about our partnership here: usesmileid.com...