Nigerian Startup Regfyl Wins African Fintech Summit Pitch

Regfyl, a Nigerian startup specializing in Anti-Money Laundering (AML), fraud prevention, and regulatory compliance, has emerged victorious at the Africa Fintech Summit Pitch held recently in Washington D.C.

The competition, a flagship event of the bi-annual summit, gathered top fintech innovators, investors, and policymakers from around the world.

Regfyl clinched the win with its innovative technology that leverages Artificial Intelligence (AI) to deliver unparalleled AML and fraud prevention solutions. These solutions are specifically tailored to meet the diverse and evolving needs of financial institutions across 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.”

Regfyl is timely and poised for rapid growth especially with the recent drive by the Central Bank of Nigeria to combat financial crimes and improve regulatory compliance in Nigeria.

The startup comes with pre-built integrations to industry standard data, an AI-powered transaction monitoring engine trained on African financial/fraud data, in-app regulatory reporting to local regulators, and powerful analytics to provide insights that improve the compliance process.

Regfyl’s generative AI-powered engine is uniquely designed to detect fraud in financial products unique to Africa, and continuously learns to minimize false positives & time spent reviewing flagged alerts.