Purple Group, the JSE-listed South African digital financial services and investment technology group behind platforms including EasyEquities and EasyProperties, has chosen RelyComply to bolster its anti-money laundering (AML), identity verification and fraud prevention capabilities.
The decision to adopt RelyComply’s enterprise AML and know your customer (KYC) platform came following an evaluation of several providers. Purple Group opted to consolidate its compliance and fraud technology infrastructure into a single, unified framework as it pursues international growth.
Having expanded from its startup origins to serve in excess of three million customers, Purple Group is now targeting new markets including Kenya, the Philippines and Australia. As the company grows internationally, it is placing greater emphasis on building the regulatory and governance foundations needed to support that expansion securely and at scale.
Purple Group operates as a digital financial services and investment technology ecosystem, listing on the JSE and offering retail investment services through platforms such as EasyEquities and EasyProperties.
The company had initially relied on a range of separate point solutions to meet regulatory requirements and support product development. As customer numbers climbed past 100,000 and into the millions, however, that fragmented infrastructure began generating growing operational and compliance challenges.
Purple Group chief operating officer Rish Tandapany said, “When we hit our first 100,000 customers, we realised there’s a huge chasm between being a startup with a handful of customers and growing into a major financial services player. As we scaled, we needed confidence that our operational processes and risk management platforms could efficiently support millions of customers – not just thousands.
“What stood out to us was RelyComply’s willingness to truly integrate into our way of working – to buy into our vision and hold themselves to the same standards we hold ourselves to. Coupled with their deep financial crime expertise and strong technical capability, they quickly felt like an extension of our team.”
RelyComply CEO Bradley Elliott added, “Secure onboarding is not only about compliance and fraud management. Faster, more trusted verification, screening and onboarding is a competitive edge. Institutions that embed identity-led, behaviour-informed intelligence into their core infrastructure will be best positioned for sustainable growth.”
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