Case Study: FairMoney scales KYC compliance and onboarding across Africa with Netguru

FairMoney verifies identity in 30 seconds with NetGuru

FairMoney, a leading fintech app in Nigeria, faced significant challenges in scaling its Know Your Customer (KYC) processes amid rapid expansion across Africa. Their difficulties included inconsistent data quality from local KYC providers, verification issues during user onboarding, and the need to comply with diverse and evolving regulatory standards. To overcome these hurdles, FairMoney partnered with Netguru for a multi-layered KYC solution.

Netguru implemented a flexible KYC framework that integrated identity verification, facial recognition, and AML compliance checks. The solution included secure backend engineering and a streamlined mobile onboarding process. This enabled FairMoney to integrate with new, localized KYC providers in under three months, ensuring compliance in new markets. The results were highly successful, reducing identity verification time to just 30 seconds, achieving 100% AI-driven fraud prevention, and helping FairMoney become the top downloaded fintech app in Nigeria. Netguru's work earned a Net Promoter Score of 9 from the client.

FairMoney