Nigerian startup firm, Regfyl, specializing in Anti-Money Laundering (AML), fraud prevention and regulatory compliance has emerged as the winner at the Africa Fintech Summit Pitch Competition held in Washington D.C.
The Africa Fintech Pitch Competition, a highlight of the bi-annual summit, brings together leading fintech innovators, investors, and policymakers from around the world.
Regfyl captivated the judges with its cutting-edge technology that leverages artificial intelligence to deliver advanced AML and fraud prevention solutions tailored to meet the diverse and evolving needs of financial institutions in Africa.
Regfyl is well-positioned for rapid growth, especially in light of the recent drive by the Central Bank of Nigeria to combat financial crimes and improve regulatory compliance in the country.
Dr. Tunde Ibidapo-Obe, CEO of Regfyl, expressed excitement, saying, “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.”
Dr. Tomiwa Erinosho, CTO, added, “Regfyl’s AI-powered toolkit excels in accuracy, particularly its self-populating politically exposed person (PEP) identification module. The company has also heavily invested in research to support rapidly scaling institutions, enhancing efficiency for fraud and compliance teams across Nigeria and beyond.”
The win follows Regfyl’s performance as a runner-up at the prestigious Oxbridge AI Challenge held at Oxford & Cambridge University in London, UK, in December 2023.
