KYC completion rate
Activation metric. Do new users reach first value?
What is KYC completion rate?
KYC completion rate is the share of fintech app users who start identity verification and end up verified.
KYC: know your customer: the identity checks regulated financial apps must complete before a user can transact.
Re-KYC: a repeat verification after a failed attempt or an expired document.
How to calculate KYC completion
KYC completion = Users verified ÷ Users who started KYC × 100- Users verified
- users whose KYC was approved
- Users who started KYC
- users who opened the first KYC step
Where definitions differ
| Variant | Formula | When to use it |
|---|---|---|
| From start | Verified ÷ Started × 100 | Measures the KYC flow and review together. |
| From sign-up | Verified ÷ Sign-ups × 100 | Adds users who never began KYC. |
| Approval rate | Verified ÷ Submitted × 100 | Isolates the review step from the form. |
KYC completion calculator
Example inputs: change them to your own numbers. The examples only make the calculator show a worked answer; they are not benchmarks or targets. Runs in your browser; nothing you type is sent anywhere.
- KYC completion (from start)
- 62.9%
- Verified share of sign-ups
- 44%
- Approval rate (of submitted)
- 84.6%
Where do users drop out of KYC?
Usually at document capture, selfie or liveness checks, and while waiting for approval. Measuring started, submitted and verified separately shows whether the problem is the flow or the review.
How KYC completion differs by vertical
| EdTech | Not used. |
|---|---|
| Fintech | Often the biggest single drop in the funnel and the step most campaigns should optimise towards. |
| OTT and streaming | Not used. |
| Gaming | Only for real-money games, where age and identity checks apply. |
Common mistakes
- Reporting only verified ÷ sign-ups, which mixes a motivation problem with a form problem.
- Counting submitted as complete while reviews are still pending.
Questions
How do you calculate KYC completion rate?
Divide verified users by users who started KYC and multiply by 100. 2.2k verified from 3.5k starters is about 63%.
What is a KYC approval rate?
It is verified users divided by users who submitted their documents. A low approval rate points to document quality or review rules rather than the flow.
Should ad campaigns optimise for KYC completion?
Often yes, once there are enough completions for the ad platform to learn from. Optimising for sign-up alone can bring users who never verify.
What is the difference between a metric and a KPI?
A metric is any measured quantity; a KPI is a metric a team has chosen as a target for judging performance. Most metrics here become KPIs only for the teams whose work moves them.
Do I need an MMP to measure these metrics?
Not for all of them. Engagement and monetisation metrics come from product analytics and billing data, while metrics split by ad channel, such as CPI, ROAS or retention by source, need installs attributed to campaigns.
Are the calculator's example inputs benchmarks?
No. The example inputs only make the calculator show a worked answer when the page loads; they are not typical, good or target values. Replace them with your own numbers.