RelyComply has announced its official launch in the UK, marking a major step in its mission to modernise anti-financial crime compliance across global markets.
The expansion follows the company’s rapid growth in Africa, where it has become a leading provider of end-to-end Anti-Money Laundering (AML), Know Your Customer (KYC), and Know Your Business (KYB) solutions.
RelyComply’s platform offers financial institutions and FinTechs a unified system that combines AI and machine learning (ML) models with region-based government identification, perpetual KYC, and enhanced transaction monitoring. By integrating bias mitigation and explainable AI, the platform significantly reduces false positives and the costs associated with manual review.
According to the company, clients such as Standard Bank — Africa’s largest bank by assets under management — have already achieved a 40% reduction in false positives, a 30% cut in compliance costs, and a 300% improvement in onboarding speed.
RelyComply CEO Bradley Elliott said, “Trust is in our DNA, and it is what our platform underpins – trustworthiness. The UK is becoming a hotbed for financial crime and desperately needs modern solutions. The sector is slowly facing the reality that fintechs are now operating at the same scale and risk level as traditional banks, but are still playing catch-up. This will only bring more sorrow to an industry dealing with tens-to-hundreds of millions of pounds in fines relating to financial crime, and institutions relying on fintech M&A in recent years to prove shareholder value in a less than desirable investment environment.”
The UK’s financial sector continues to face mounting challenges from increasingly sophisticated fraud. In 2024, criminals stole £1.17bn through fraud while banks prevented £1.45bn. Regulatory frameworks such as the Failure to Prevent Fraud Act, the APP Fraud Reimbursement Regime, and the Consumer Duty have been introduced to strengthen consumer protection, yet many financial institutions still rely on legacy, rules-based compliance systems that struggle to detect modern threats.
Elliott added, “This is a clear signal that reactive controls are not enough. Financial Crime has become a headache for the majority of Financial Institutions (FIs) and fintechs still using legacy, rules-based compliance tools that generate biased, false positives. Reimbursing victims is liability management; preventing fraud is protection. The cheapest fine FIs will ever get is the fraud they never let through. With cross-industry data and explainable AI, RelyComply helps PSPs and banks stop fraud before it starts. For those who can’t prove fairness for vulnerable customers, they can’t meet Consumer Duty. We eliminate that bias in onboarding and monitoring, ensuring every customer gets a fair chance.”
RelyComply’s entry into the UK market builds on its success in Southern Africa, where its solutions have become central to major banks’ compliance strategies. Elliott said, “RelyComply won’t be content with rebuilding the wheel; the purpose is to deliver a holistic platform that FIs can implicitly trust without doing the legwork needed throughout not just compliance, but risk as an entire function. There is no reason why identifying potential opportunists for financial crime can’t be painless.
“With all the work we have done in Africa, and within our home in South Africa, where even the country as a whole is working hard towards leaving the greylist and becoming more financially trustworthy. We are confident in our ability to add value to the UK’s financial ecosystem from London to Edinburgh, and everyone in between, and we are all very excited to be joining such an innovative community.”
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