Case Study: Paga reduces identity-related fraud with Smile ID's Biometric KYC

Paga reduces identity-related fraud by 40% using facial biometrics

Paga, a payments company in Nigeria focused on bridging the gap in financial access, faced a significant challenge with identity-related fraud. The company discovered a fraudster who had created 150 different bank verification numbers (BVNs) with the same face to exploit their systems. To confidently verify its users and combat this fraud, Paga partnered with Smile ID for a solution.

Smile ID implemented its Biometric KYC solution with features including liveness checks and duplicate account prevention. This provided Paga with a secure and streamlined onboarding process. The results were a 40% reduction in identity-related fraud and a drastic decrease in onboarding time, from two hours down to just seven to nine minutes, allowing Paga to grow its brand with confidence in its system's security.

Paga

Tayo Oviosu

Founder & CEO