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Financial institutions in Africa have struggled to fully leverage customer data as an asset. With a digital customer onboarding process, financial institutions improve the quality of customer data captured on the first interaction and ensure that all data is automatically validated to meet desired accuracy standards.
As banking in Africa proliferates and becomes increasingly digital, financial institutions are left grappling with two key challenges on their journey to growth: How to accelerate customer acquisition? And how to reduce and counter the risk of identity fraud?
Automating KYB is a challenge for banks and financial institutions. There are many hurdles that need to be overcome. Laboremus has automated the KYB process for banks and financial services companies in Africa.
Uganda-based fintech startup Laboremus has received further funding to accelerate the adoption of digital KYC and customer onboarding solutions in Africa.
A deep dive into KYB for banks and financial institutions in Africa. KYB is essential for financial institutions to verify the identity and legitimacy of their business partners, customers and suppliers.
By implementing automated KYB verification, financial institutions can optimise their operations, offer superior experience to their customers and massively reduce their risk to fraud.
DOB Equity and FCA Investments announce a seed investment to accelerate the implementation of the company’s vision to build credit infrastructure for all African financial institutions.
Bank of Uganda (BoU), in collaboration with Uganda Bankers’ Association (UBA) and Financial Sector Deepening Uganda (FSDU) have signed a contract with fintech company Laboremus Uganda to develop a digital ID verification system to be used by all banks and other licensed financial service providers in the country.
ADC, Rabobank Foundation and Laboremus Uganda are happy to announce a partnership to help Uganda’s dairy farmers and cooperatives grow.
Laboremus launches digital platform to improve access to credit for smallholders & improve management of cooperatives. Funding received from Financial Sector Deepening Uganda will help build resilience of smallholder farmers and the groups that serve them.