Youverify: Revolutionizing AML Compliance with Elm Investment
March 18, 2024, 9:30 am
Youverify, a Nigerian provider of identity verification and anti-money laundering solutions, recently secured a $2.5 million investment from Elm, a digital solutions company based in Saudi Arabia. This strategic partnership aims to streamline AML compliance for businesses, enhance global risk intelligence, and expand Youverify's products into new markets.
Youverify has made significant strides in expanding its coverage, serving customers in 12 countries and processing 4 million monthly applications for over 3,500 businesses. The platform's capacity to verify IDs has expanded to 5 billion people and 600 million businesses across various industries.
CEO Gbenga Odegbami highlighted Youverify's innovative approach, utilizing AI algorithms to assess and analyze risks, generate regulatory reports, and provide AML and risk classification solutions. This collaboration with Elm signifies a major step forward in the fight against financial crime and the promotion of secure business practices worldwide.
With the surge in financial services across Africa, the demand for regtech solutions is on the rise. Youverify's expertise in compliance and cultural sensitivity, coupled with Elm's investment, positions the company to drive efficiency, security, and trust in the global technology ecosystem.
Youverify has made significant strides in expanding its coverage, serving customers in 12 countries and processing 4 million monthly applications for over 3,500 businesses. The platform's capacity to verify IDs has expanded to 5 billion people and 600 million businesses across various industries.
CEO Gbenga Odegbami highlighted Youverify's innovative approach, utilizing AI algorithms to assess and analyze risks, generate regulatory reports, and provide AML and risk classification solutions. This collaboration with Elm signifies a major step forward in the fight against financial crime and the promotion of secure business practices worldwide.
With the surge in financial services across Africa, the demand for regtech solutions is on the rise. Youverify's expertise in compliance and cultural sensitivity, coupled with Elm's investment, positions the company to drive efficiency, security, and trust in the global technology ecosystem.