Youverify, an award-winning financial crime platform that provides AI-powered Anti-Money Laundering solutions has announced a significant investment from Elm, a pioneering digital innovation and solutions company based in Saudi Arabia.
Serving customers in 12 countries, Youverify’s solutions are essential for businesses aiming to maintain compliance, secure transactions, and foster trust. The investment from Elm will enable Youverify scale its products to additional markets, accelerating the production of its next-generation AML 2.0 products.
With an impressive footprint in aggregating data for electronic identity verification (eIDv) in 45 countries, and business verification in over 140 jurisdictions securely and reliably, Youverify’s state-of-the-art AI-driven AML risk intelligence platform is revolutionising how businesses address fraud challenges, which significantly reduces false positives, improves transaction monitoring, reduces business costs, and simplifies adherence to global compliance standards.Â
Says Gbenga “GEE” Odegbami (CEO, Youverify): “Partnering with Elm is a game-changer for Youverify and our customers. Elm’s strong track record in delivering innovative digital solutions aligns perfectly with our mission to provide the financial industry’s most reliable and efficient global AML solutions.”
CTO and co-founder of Youverify, Famous Ehichioya, stated, “The integration of Elm’s resources and expertise with our AI-driven platforms will enable us to accelerate the development of our AML 2.0 products. These innovative solutions are not just about meeting regulatory requirements; they’re about redefining the standard for efficiency and reliability in the financial sector. Staying ahead of fraud is not just a priority for us.”Â