RelyComply
RelyComply is a South African-founded RegTech company that provides an AI-assisted unified AML, KYC, and KYYC compliance platform to banks, fintechs, and insurance providers, with operations in South Africa and the UK.
- Company typePrivate
- Founded2020
- HeadquartersJohannesburg, South Africa
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What RelyComply does
RelyComply is a South African-founded RegTech company that provides a unified, AI-assisted AML and KYC compliance platform for financial institutions. The platform combines customer onboarding, KYC and KYB verification, sanctions and PEP screening, adverse media monitoring, real-time transaction monitoring, case management, and regulatory reporting (including integrated goAML submission) within a modular, API-first architecture that connects to core banking, CRM, and onboarding systems.
Underlying capabilities include machine learning for transaction anomaly detection, natural language processing for contextualising suspicious payments and adverse media, computer vision and biometric liveness checks for identity verification, dynamic customer risk scoring, and explainable AI designed to satisfy FCA audit requirements. The company sells primarily to banks, fintechs, and insurance providers, with named customers including Standard Bank, Bidvest Bank, SnapScan, Peach Payments, PPS, Purple Group, and the UK Building Societies Association.
The business operates a SaaS subscription model priced quote-based on transaction volumes and monthly screening requirements, supplemented by implementation and customer-success services. RelyComply was founded in 2020 in Cape Town by CEO Bradley Elliott and CTO James Saunders, established a UK entity in Borehamwood with market launch in October 2025, and operates with 11-50 employees as a privately held, founder-controlled company with no disclosed external institutional funding.
RelyComply firmographics
Firmographics- Name
- RelyComply
- Legal name
- Dataseed (Pty) Ltd, trading as RelyComply
- Website
- https://relycomply.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- RelyComply is a South African-founded RegTech company that provides an AI-assisted unified AML, KYC, and KYYC compliance platform to banks, fintechs, and insurance providers, with operations in South Africa and the UK.
- Ownership category
- akta.pro rank
RelyComply industry classification
Industry- Product category
- RegTech Compliance Software
- NAICS
- Custom Computer Programming Services (541511)
- SIC
- Services-Computer Programming Services (7371), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- KYC/KYB & Customer Onboarding (CIP, beneficial ownership, screening) (FSAGAFAB)
- akta.pro secondary industries
- Fraud, Risk, KYC/AML & Compliance Platforms (BPAMAFAI), Customer Identity (KYC/CDD/EDD) & Onboarding (FSAMAMAA), Case Management, Investigations & SAR/STR Filing (FSAMAMAF), Compliance, GRC Workflow & Audit Automation Platforms (HDAEAHAL), KYC/KYB, Identity Verification & Customer Due Diligence (FSAFAOAE)
Keywords
Where RelyComply is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices2 records
Markets served
RelyComply business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Enterprise AML/KYC Platform Subscription: RelyComply operates as a SaaS compliance platform providing unified AML and KYC solutions to financial institutions. The platform is sold through enterprise agreements with features including onboarding, screening, transaction monitoring, and regulatory reporting. Pricing is based on transaction volumes and screening requirements, with tiered enterprise plans for banks, fintechs, and insurance providers. The company offers a 30% reduction in onboarding time and 30% lower compliance costs as measurable outcomes for clients.
- Customer Success and Implementation Services: RelyComply provides implementation support, quarterly business reviews, and ongoing customer success engagement to ensure platform adoption and measurable business outcomes. Services include onboarding optimization, threshold tuning, and configuration for specific compliance requirements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise platform for Tier 1 banks and large financial institutions |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels9 records
RelyComply product offering
Product offeringCore offering
RelyComply provides a unified, AI-powered AML and KYC compliance platform for financial institutions covering customer onboarding, identity verification, customer and business screening, transaction monitoring, case management, and regulatory reporting (including goAML integration). The platform automates 80% of manual compliance tasks and is sold as an enterprise SaaS subscription to banks, fintechs, and insurance providers in South Africa and the UK.
Product overview
RelyComply offers a unified, modular AML and KYC compliance platform designed for financial institutions. The core AML Platform serves as the central system, with KYC Solutions and KYB Solutions providing customer and business onboarding modules respectively. These are supported by specialised modules including Transaction Monitoring, Transaction Screening, Case Management, Regulatory Reporting (including goAML), Customer Lifecycle Requests, AML Artificial Intelligence, Modern Integration, Configurability, AML Data, and Business & Analytics Reporting. The platform is available in a South Africa-facing version and a UK-specific variant (UK Platform) optimised for FCA-regulated firms. The architecture is API-driven, enabling modular deployment where institutions can adopt specific capabilities as needed, and the platform targets banks, fintechs, and insurance providers with claims of 30% lower compliance costs and 80% automation of manual tasks.
Differentiator
Problem solved
Functional benefit
Products and services
- AML Platform RelyComply's unified AML and KYC compliance platform providing end-to-end anti-financial crime capabilities including onboarding, screening, transaction monitoring, and regulatory reporting. The platform automates 80% of manual compliance tasks and claims a 99.9% detection rate for high-risk transactions. It is sold to banks, fintechs, and insurance providers as an enterprise SaaS subscription.
- KYC Solutions Know Your Customer solution bundle covering identity verification, document and customer verification, customer screening, customer risk assessment, and adverse media screening. Supports both individual and business customer onboarding with automated CDD and EDD workflows, sold to financial institutions as part of the RelyComply platform.
- KYB Solutions Know Your Business solution bundle covering business verification, entity screening, business risk assessments, and adverse media for business customers. Verifies ultimate beneficial owners (UBOs) and company ownership structures, sold to financial institutions as part of the RelyComply platform.
- AML Solutions Anti-Money Laundering solution bundle covering transaction monitoring, transaction screening, and regulatory reporting. Enables continuous monitoring of financial activity using machine learning models trained on transaction data, sold to financial institutions as part of the RelyComply platform.
- UK Platform UK-specific variant of the AML platform optimized for FCA-regulated firms, UK MLRs 2017 compliance, OFSI sanctions screening, and NCA SAR reporting requirements. Includes UK domestic PEP handling features and is targeted at banks, fintechs, and insurance providers in the United Kingdom.
Quantifiable outcome
- 30% reduction in customer onboarding time for Tier 1 bank clients
- +6 more outcomes
Companies that use RelyComply
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
RelyComply technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability9 records
Feature9 records
RelyComply partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Purple GroupcorePurple Group partnered with RelyComply to move from fragmented AML and onboarding systems to a unified, scalable compliance framework. The partnership enables faster onboarding and supports secure global expansion for Purple Group's rapid growth.
- PPScoreRelyComply partnered with PPS, South Africa's leading provider of professional financial services and insurance solutions, to support more efficient onboarding and compliance processes. The partnership aims to reduce manual work, enhance oversight, and increase operational efficiency for PPS's member services through straight-through processing and improved system uptime while maintaining regulatory adherence.
- Building Societies Association (BSA)coreRelyComply joined the Building Societies Association to strengthen AML and financial crime resilience across the UK mutual sector. The partnership combines sector expertise with end-to-end compliance capabilities, providing BSA members access to RelyComply's unified AML platform.
- Peach PaymentscorePeach Payments, an African payment service provider, partnered with RelyComply to strengthen its AML and KYC compliance capabilities and support expansion into new African markets including West Africa. The partnership automates customer verification and transaction monitoring through a centralized interface for automated payment screening, risk profiling, and real-time reporting.
- Standard BankcoreStandard Bank partnered with RelyComply to enhance financial crime compliance across banking verticals. The partnership streamlined fragmented processes with real-time transaction screening and seamless KYC deployments, bolstering the compliance framework and mitigating risks associated with regulatory fines.
- Bidvest BankcoreBidvest Bank partnered with RelyComply to address inefficiencies and high costs with previous systems. The end-to-end AML solution significantly strengthened financial crime detection capabilities and better equipped the bank to navigate the complex regulatory landscape.
- SnapScancoreSnapScan partnered with RelyComply to revolutionise merchant onboarding, reducing verification times by 20% and boosting verification rates by 10%. The integration eliminated manual document uploads and streamlined customer sign-ups.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
RelyComply competitors and assessment
Company assessmentDirect peers
- ComplyAdvantage: ComplyAdvantage is a London-based AI-native AML/KYC platform offering transaction monitoring, sanctions screening, and customer risk scoring for banks and fintechs. Most direct comparable to RelyComply in product scope, SaaS model, and Tier 1 bank target segment.
- Trulioo: Trulioo provides global digital identity verification and business verification (KYC/KYB) for cross-border compliance, with comparable go-to-market focus on fintechs and banks expanding internationally.
- Onfido: Onfido is an AI-based identity verification provider combining document scanning, biometric checks and AML screening. Comparable to RelyComply's IDV & User Verification module and shared fintech/banking customer base.
- Jumio: Jumio delivers AI-powered identity verification, KYC and AML screening for banks, fintechs and payment providers. Comparable to RelyComply on biometric IDV, sanctions screening and enterprise financial-services customers.
Broad incumbents
- NICE Actimize: NICE Actimize is a long-standing enterprise AML, KYC and fraud platform sold to the world's largest financial institutions. It overlaps directly with RelyComply's transaction monitoring, screening and case management but operates at much larger scale across Tier 1 global banks.
- Oracle Financial Crime and Compliance: Oracle's FCC suite delivers AML, KYC, transaction monitoring and regulatory reporting integrated with its banking platform. A broad incumbent that RelyComply must displace in incumbent Tier 1 bank estates, particularly for goAML-style reporting.
- SAS Anti-Money Laundering: SAS AML is an enterprise analytics-led compliance platform with strong footprint among global Tier 1 banks. It competes on AI-driven monitoring and scenario tuning, overlapping with RelyComply's ML-based anomaly detection value proposition.
- FICO TONBELLER (Siron): FICO's AML suite (acquired via TONBELLER/Siron) provides end-to-end KYC, transaction monitoring and sanctions screening widely deployed in European Tier 1 banks. A direct incumbent in the same UK market RelyComply is targeting.
- BAE Systems Applied Intelligence (NetReveal): BAE Systems' NetReveal financial crime platform delivers AML, fraud detection and case management primarily to large banks and insurers. Comparable to RelyComply on compliance coverage and Tier 1 customer base.
- Refinitiv World-Check (LSEG): World-Check is the dominant sanctions, PEP and adverse media screening data source used by most global banks. A data-layer incumbent that RelyComply must integrate with (or compete against) on screening accuracy and coverage.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
RelyComply social profiles
Digital presenceRelyComply compliance and trust
Trust signalCompliance7 records
RelyComply financial estimates
Financial estimateRevenue estimate
Valuation estimate
RelyComply leadership team
Management profileNumber of profiles
Profiles4 records
RelyComply funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RelyComply M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RelyComply
What does RelyComply do?
RelyComply provides a unified, AI-powered AML and KYC compliance platform for financial institutions covering customer onboarding, identity verification, customer and business screening, transaction monitoring, case management, and regulatory reporting (including goAML integration). The platform automates 80% of manual compliance tasks and is sold as an enterprise SaaS subscription to banks, fintechs, and insurance providers in South Africa and the UK.
Is RelyComply a public or private company?
RelyComply is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was RelyComply founded?
RelyComply was founded in 2020. It employs 11 to 50 people.
Where is RelyComply based?
RelyComply is headquartered in Johannesburg, South Africa, in the Africa region.
How does RelyComply make money?
Two revenue lines are on record. Enterprise AML/KYC Platform Subscription is the primary driver. The others are customer Success and Implementation Services.
Who are RelyComply's main competitors?
Direct peers on record are ComplyAdvantage, Trulioo, Onfido and Jumio. Broad incumbents are NICE Actimize, Oracle Financial Crime and Compliance, SAS Anti-Money Laundering, FICO TONBELLER (Siron), BAE Systems Applied Intelligence (NetReveal) and Refinitiv World-Check (LSEG).
Does RelyComply have an API?
No public API is recorded for RelyComply.
What industry is RelyComply in?
RelyComply's product category is RegTech Compliance Software. Its primary akta.pro industry code is FSAGAFAB, KYC/KYB & Customer Onboarding (CIP, beneficial ownership, screening), with a secondary code of BPAMAFAI, Fraud, Risk, KYC/AML & Compliance Platforms. Its NAICS code is 541511 and its SIC code is 7371.