Youverify, a leading provider of AML compliance automation solutions for financial institutions, has once again been honoured with the GRC and Fincrime Award 2024 in the “Best GRC and Financial Crime Prevention Solution Provider of the Year” category. This win marks Youverify’s third consecutive recognition in this category by The Morgans, establishing its position as a key player and leader in the fight against financial crime.

 In a fiercely competitive field with notable finalists, and an era of rapid digital transformation where fintechs like Moniepoint, Opay and countless others are reshaping the financial industry, and the risk of financial crime and fraud has never been higher, Youverify distinguished itself through its innovative use of machine learning, explainable AI, and real-time monitoring to tackle the evolving challenges of anti-money laundering (AML) compliance and fraud prevention. Youverify’s solutions empower over a thousand financial institutions, including banks, fintechs, and non-banking financial institutions, to onboard customers seamlessly, conduct ongoing compliance checks, and secure their operations against fraud and AML risks.

Dr. Gbenga Odegbami, CEO of Youverify, expressed his pride in this milestone achievement, saying, “Winning this award for the third consecutive year is a testament to our unwavering commitment to excellence. We are dedicated to making compliance accessible and effective for African financial institutions, enabling them to meet global standards in fraud prevention and risk management.” 

The award highlights Youverify’s significant role in transforming the compliance landscape across Africa. By blending authoritative and public data sources, Youverify enables financial institutions to properly classify customers based on risk levels, detect and report suspicious activities, and stay compliant across multiple jurisdictions.

Hakeem O. Akiode, Head of Growth at Youverify, added, “This recognition from The GRC and Fincrime awards motivates us to continue pushing boundaries in compliance technology. Our focus on leveraging data and AI to empower financial institutions across Africa and beyond demonstrates our commitment to making a tangible impact on the financial ecosystem.” As regulatory scrutiny intensifies worlwide, Youverify remains at the forefront, driving innovation to ensure compliance and security for the financial sector.