April 27, 2023
by Smile Identity and Appruve, two leading companies in the field of digital identity verification, have recently announced their merger. With a shared commitment to addressing the identity challenge in Africa, these companies are poised to revolutionize Africa’s digital economy through the ethical utilization of digital identity data. By combining their expertise and resources, Smile Identity and Appruve will offer an unparalleled solution to the market, empowering millions of Africans to easily establish their true online identities.
Since its inception, Smile Identity has successfully integrated document verification, face verification, biometrics, and data integrations with local trusted ID authorities. Similarly, Appruve has been leveraging financial and identity data to detect fraud and automate compliance for businesses across Africa since 2018. This shared vision and approach to identity-related issues make the merger a natural progression for both companies.
Mark Straub, CEO and co-founder of Smile Identity, expressed his excitement about the acquisition, stating, “This merger will enhance our understanding of KYC in Africa, enabling us to strengthen our market knowledge, regulatory relationships, and collaborations with compliance officers across the continent.”
The acquisition of Appruve will expand the range of APIs offered by Smile Identity, encompassing mobile money, data, and anti-fraud checks. This comprehensive digital identity verification solution will now cover over 1 billion Africans, the African diaspora, and 100 million African businesses. With integration options available for every device and operating system combination in Africa, the merger will provide customers with an unparalleled verification experience.
Paul Damalie, CEO and Founder of Appruve, shared his enthusiasm for the collaboration, highlighting the companies’ complementary strengths. He said, “Our partnership will leverage Smile Identity’s expertise in fraud-related data sources and Appruve’s AML product, resulting in an exceptional experience for all our clients across Africa.”
In addition to the expanded product offering, the merger will also facilitate Smile Identity’s expansion into francophone Africa, focusing on Cote D’Ivoire and Senegal, while deepening their presence in Ghana. With the ability to verify local identity documents across Francophone Africa, Smile Identity will become even more relevant to its clients, as well as banks and financial institutions serving West Africa.
During the next few weeks, Smile Identity and Appruve will finalize the administrative processes to conclude the acquisition of Appruve’s local entities. Customers can expect a seamless transition process, an enhanced suite of SDK and API integration methods, and comprehensive customer support across global time zones. This merger solidifies Smile Identity’s position as the leading provider of identity verification and KYC solutions in Africa.
https://www.youtube.com/watch?v=n4dkRxnrIMU&ab_channel=SmileIdentity
