Regfyl, a Nigerian startup specializing in Anti-Money Laundering (AML), fraud prevention, and regulatory compliance, has emerged as the winner of the Africa Fintech Summit Pitch held in Washington D.C.
The competition is a flagship event of the bi-annual African Fintech summit.
It brings together leading Fintech innovators, investors and policymakers from across the globe.
Regfyl pitched a cutting-edge technology that utilises Artificial Antelligence (AI) to provide unparalleled anti-money laundering (AML) and fraud prevention solutions.
The solution was tailored specifically for meeting the diverse and evolving needs of financial institutions in Africa.
CEO of Regfyl, Dr. Tunde Ibidapo-Obe, while receiving the award, said: “Winning this competition highlights the transformative potential of our solution in tackling compliance challenges such as fraud and AML. We provide global-standard compliance solutions at affordable local prices, mitigating forex fluctuation risks.”
CTO of Regfyl, Dr. Tomiwa Erinosho, revealed the company’s vested interest in research saying :
“The company has also invested heavily in research to support rapidly scaling institutions, enhancing efficiency for fraud and compliance teams across Nigeria and beyond.”
About Regfyl
Regfyl is a one-stop toolkit that empowers fraud prevention and compliance teams in banks, fintechs, and other financial institutions in Africa.
It’is an AI-powerd platform that offers API solution for transaction monitoring, regulatory filings, and compliance management.
The company’s software offers pre-built integration data with a transaction monitoring engine to detect fraud in financial products, customer profiling, and regulatory reporting.
This enables businesses to simplify and streamline processes with round-the-clock monitoring and security tools, controls, and policies.
It also helps them to efficiently synchronize, collaborate, and seamlessly execute their fraud prevention, AML monitoring and regulatory filing obligations.
Founded in 2022, the startup raised its first seed round fund of $20,000 in January 2024.
Regfyl emerged a runner-up at the prestigious Oxford Cambridge University’s – Oxbridge AI Challenge in London, UK, in December 2023..
