Regfyl is a startup that specializes in fraud prevention, regulatory compliance, and anti-money laundering. It earned the top spot at the Africa Fintech Summit Pitch Competition in Washington, D.C.
The Africa Fintech Pitch Competition is a premier event of the biannual forum, which unites top fintech innovators, investors, and policymakers from around the world, is the Africa Fintech Pitch Competition.
A statement claims that Regfyl’s innovative technology, which makes use of artificial intelligence to offer unmatched anti-money laundering and fraud prevention solutions designed especially for the various and changing demands of financial institutions in Africa, intrigued the judges.
“Winning this competition highlights the transformative potential of our solution in tackling compliance challenges such as fraud and AML,” said Dr. Tunde Ibidapo-Obe, Chief Executive Officer of Regfyl. ” We provide global-standard compliance solutions at affordable local prices, mitigating forex fluctuation risks.”
This new victory comes after Regfyl’s highly praised showing in December 2023 as a runner-up in the esteemed Oxford and Cambridge University’s Oxbridge AI Challenge in London, UK.
The firm claimed that it was well-positioned for quick expansion, particularly in light of the Central Bank of Nigeria’s recent push to enhance regulatory compliance and fight financial crimes in Nigeria.
“Regfyl’s AI-powered toolkit excels in accuracy, particularly its self-populating politically exposed person (PEP) identification module,” the company has also invested heavily in research to support rapidly scaling institutions, enhancing efficiency for fraud and compliance teams across Nigeria and beyond.” said Dr. Tomiwa Erinosho, Chief Technical Officer.
