ComplyCube wins third RegTech partner award amid fraud

KAREN JOY BACUDO

Finance Editor

ComplyCube has been named RegTech Partner of the Year at the British Bank Awards for the third consecutive year, as UK banks face rising fraud and tighter compliance demands.

The recognition reflects its work with banks and financial institutions on identity verification, fraud checks and customer onboarding. It is now processing more than 10 million transactions a week worldwide.

Pressure on the sector has intensified as fraud cases rise. According to Cifas, UK fraud reached a record 444,000 cases in 2025, with almost three-quarters linked to identity fraud and facility takeover.

That has increased scrutiny of how banks verify customers while keeping digital sign-up processes simple enough to avoid losing applicants. Firms are also dealing with stricter regulatory expectations and a shift towards digital-first account opening.

ComplyCube’s platform supports verification in more than 250 countries and territories and uses more than 3,000 data points from external sources and partners. It has verified more than 4 million identities to date and maintains a 98% client onboarding rate.

The group offers biometric and document verification, sanctions and politically exposed persons screening, fraud intelligence signals, and a no-code workflow engine. Financial institutions use those tools to identify customers, flag risks, and adapt internal processes as rules and fraud patterns change.

The award adds to a run of recognition in the financial crime technology market. ComplyCube has also been included in the FinCrimeTech50 and says its clients include Citi, Lyca Mobile, AXA and Accenture.

Demand for digital identity checks has grown as financial institutions try to reduce fraud losses without creating long delays for legitimate customers. That has strengthened the position of verification and compliance software providers as banks review older onboarding systems.

Market pressure

The latest fraud figures underline why identity systems have become a central issue for lenders and payments groups. Identity fraud and account takeover can expose firms to direct financial losses, regulatory penalties and reputational damage, while weak onboarding controls can also hinder customer growth.

For banks, the challenge is not only detecting suspicious activity but doing so quickly enough to avoid disrupting applications from genuine users. This has become more important as more retail and business customers open accounts remotely rather than in branches.

ComplyCube says the scale of that challenge has helped drive its growth over the past year. It positions its products as helping regulated firms reduce fraud, meet compliance requirements and improve digital onboarding flows.

“Winning RegTech Partner of the Year for a third year running is a real milestone for the team, and a reflection of the trust UK banks and financial institutions are placing in ComplyCube. The compliance landscape is shifting fast – fraud is becoming more sophisticated, regulatory expectations are rising, and customers expect onboarding to be seamless. Our job is to give financial institutions the tools to meet all three at once, without compromise. This recognition is a credit to our customers, our partners and a team that refuses to stand still,” Tarek Nechma, Founder and Chief Executive Officer of ComplyCube, said.

The British Bank Awards are organised by Smart Money People and draw on customer feedback. Organisers said this year’s responses indicated demand for stronger digital identity and fraud-prevention measures.

“Congratulations to ComplyCube for winning RegTech partner of the year for the third year running. Following feedback in this year’s British bank awards, clients say that ComplyCube continues to demonstrate excellence in regulatory technology, delivering innovative solutions that help organisations stay compliant while strengthening the safety and integrity of customer interactions. This year, firms are facing increasing regulatory scrutiny and growing focus on digital identity and fraud prevention, so ComplyCube’s approach to streamlined and scalable compliance is more important than ever. A huge well done to the entire team on this fantastic achievement,” said Peer Jelendorf, Chief Executive Officer of Smart Money People.