The visionary Managing Director of Efuelite Solutions Limited, Prince Efue, has thrust Nigeria into the forefront of digital technology innovation in the quickly developing field of financial technology. His ground-breaking invention, Compliance Planet, is a powerful force for transformation, overhauling worldwide transaction monitoring and taking the initiative in the decisive battle against financial fraud.
Compliance Planet was invented in 2017 in response to Prince Efue’s vision for an integrated strategy to tackle anti-money laundering (AML), countering terrorism financing (CTF), and countering proliferating financing (CPF). Today, this patented technology is more than just software; it’s a paradigm-shifting instrument that has completed 594 AML/CFT/CPF projects and profoundly changed the financial crime detection landscape.
Compliance Planet has detected several intricate global fraud networks that had evaded detection by conventional means. The program allowed authorities to shut down the fraud network and stop millions of dollars in losses by highlighting suspicious transaction patterns across several continents.
“Compliance Planet’s unique problem-solving design and approach encompass transaction monitoring, global sanction screening, customer risk assessment, enhanced due diligence, adverse media monitoring, and automated regulatory report production and submission. Beyond the boundaries of Nigeria, Compliance Planet has meticulously monitored more than 5 billion transactions worldwide. Through our proactive detection, prevention of fraudulent acts, and cutting-edge capabilities, we have enabled financial institutions to protect the integrity of the global financial system,” explains Prince Efue.
The company’s expertise is demonstrated by the confidence it has gained from “5 financial institutions” that have seen the revolutionary effects of Compliance Planet. These contented clients serve as examples of Compliance Planet’s evolving capacity to meet the various requirements of financial institutions while creating confidence and long-term relationships. A powerful deterrence against financial crime, the software’s track record of “11,009 detected and prevented fraud cases” protects assets and upholds financial integrity.
Prince Efue acknowledges, “The software’s vast and versatile capabilities have led to increased reliance on the locally made product, Compliance Planet. It has played a vital role in stabilizing the Nigerian Economy, reducing forex expenditures on foreign AML software. Introducing Artificial Intelligence, Machine Learning, Deep Learning, and Natural Language Processing into a fully automated workflow has made financial compliance control and analysis captivating.”
Compliance Planet retains leadership in surveillance and financial crime prevention worldwide because of its vast global reach and cutting-edge features.
