How Regfyl Meets the CBN Draft Baseline Standards for Automated AML Solutions 2025
- Regfyl Team
- 3 days ago
- 4 min read
In May 2025, the Central Bank of Nigeria (CBN) released its draft Baseline Standards for Automated AML Solutions— now widely referred to as the CBN AML Standards.
These new requirements establish minimum expectations for anti-money laundering (AML) platforms used by financial institutions in Nigeria. For many institutions, the CBN AML Baseline Standards mark a significant shift in regulatory expectations. For others, they confirm what’s long been anticipated: compliance technology must be smarter, faster, and locally grounded. Regfyl was built with this future in mind.
Importance of the CBN AML Baseline Standards
The CBN AML Baseline standards are a roadmap for modern financial crime prevention for Nigerian financial institutions. As money laundering techniques become more sophisticated and regulatory scrutiny intensifies, financial institutions need technology solutions that can keep pace with evolving threats while maintaining operational efficiency. The stakes couldn't be higher. Institutions that fall short risk regulatory penalties, reputational damage and operational disruption. Those that excel, however, gain a competitive advantage through streamlined compliance operations and enhanced risk management capabilities.
How Regfyl Aligns with the CBN AML Baseline Standards
Here's how Regfyl's platform addresses each of the CBN's key requirements:
User Interface and Customization
CBN Requirement: Interfaces must be intuitive, with configurable dashboards tailored to user roles.
How Regfyl Delivers: Our platform features clean, role-based dashboards designed specifically for compliance officers, fraud analysts, internal auditors, compliance managers, and senior management. Users can configure rules, thresholds, reports, and notifications without requiring engineering support—a critical advantage for institutions that need to adapt quickly to changing risk profiles.
System Integration and Scalability
CBN Requirement: Must integrate with core banking/payment systems and scale efficiently.
How Regfyl Delivers: Our API-first infrastructure supports both real-time and batch data flows across core banking, switching, wallet, and payments platforms. We've proven our integration capabilities with multiple core banking applications—both local Nigerian systems and global platforms. Our elastic cloud infrastructure scales seamlessly as transaction volumes grow, handling everything from thousands to millions of daily transactions without performance degradation. This means institutions can grow their business without worrying about compliance technology becoming a bottleneck.
Sanctions List, PEP & Adverse Media Screening
CBN Requirement: Integration with global and domestic watchlists and PEP datasets.
How Regfyl Delivers: Regfyl screens against over 1,500 global and local lists in real-time, including UN, OFAC, UKHMT, EU sanctions, and Nigeria-specific sanctions lists. Our PEP screening covers both international figures and Nigeria-specific political and public office holders—crucial for local compliance context. We also integrate adverse media screening that's continuously updated, helping firms capture reputational and behavioral risks from news sources and databases.
Transaction Monitoring and Risk-Based Analysis
CBN Requirement: Real-time monitoring with configurable risk rules and behavioral profiling.
How Regfyl Delivers: We use a hybrid engine that combines rules-based logic with AI-powered analytics—the best of both worlds. While rules ensure coverage of known risk typologies, our AI layer identifies new or evolving patterns that might escape static rules. Our scenarios can be built using multiple variables: customer type, geography, transaction velocity, value thresholds, and channel activity. These rule scenarios were developed using over 1,000,000 data points drawn from local NFIU typologies, Egmont case examples, FATF recommendations, and proprietary datasets. Most importantly, our alerts come with rich contextual explanations—not just flagging that something is suspicious, but explaining why it triggered our attention.
Customer Due Diligence - KYC and KYB
CBN Requirement: Must support identity verification, business verification, and customer risk scoring.
How Regfyl Delivers: Our platform verifies customer identities using biometric liveness detection, NIN, BVN, and document scans. For business customers, we provide automated CAC lookups, director/UBO mapping, and cross-checks against sanctions and PEP data. Customers are automatically risk-rated during onboarding and continuously re-scored based on transaction behavior, geography, and screening outcomes. We support tiered CDD that adjusts based on customer type and risk level—ensuring appropriate due diligence without creating unnecessary friction.
Regulatory Reporting
CBN Requirement: Ability to generate and submit reports such as STRs and CTRs in regulator-approved formats.
How Regfyl Delivers: We automatically generate STRs and CTRs in formats compatible with NFIU's submission standards (XML, Excel). Every report maintains a fully auditable history—tracking who generated it, when, and what triggered it. This transparency is essential for regulatory examinations and internal audit processes.
Case Management
CBN Requirement: Full audit trail of alert disposition, escalation, and resolution.
How Regfyl Delivers: Our case management module supports comprehensive investigation workflows, including annotation, collaboration, and escalation capabilities. Built-in task assignments, status tracking, and time-stamped actions ensure compliance with regulatory expectations for documented decision-making. The seamless integration between our alerting system, case management, and reporting functions means nothing falls through the cracks—a critical requirement for maintaining regulatory compliance.
Security and Data Protection
CBN Requirement: Must ensure data privacy, access controls, encryption, and audit logging.
How Regfyl Delivers: We're NDPR-certified and hosted on ISO 27001-compliant infrastructure. Our security is military grade (AES-256 encryption, TLS). Access controls are role-based with comprehensive audit trails of all user activity.
Ready to Future-Proof Your Compliance?
What distinguishes Regfyl is our ability to meet today's requirements—and our anticipation of tomorrow's challenges. While many providers are just starting to adapt to the CBN AML Standards, this is something we are already equipped and built for.
Every feature has been designed with real-world compliance professionals' needs at the center. As compliance standards continue to evolve and enforcement intensifies, financial institutions need technology partners they can trust.
Whether you're a deposit money bank, fintech, microfinance institution, or international money transfer operator, Regfyl offers a powerful, locally relevant platform that keeps your operations compliant, efficient, and defensible. The CBN AML Baseline Standards represent just the beginning of an evolving regulatory landscape.
Don't wait for the next regulatory update to evaluate your compliance readiness. Align your institution with the CBN AML Baseline Standards today.
Take our free CBN AML Standards Compliance Quiz to assess your current readiness level and uncover potential gaps in your AML compliance setup.
Book a 15-minute discovery call to see how Regfyl can strengthen your compliance posture and position your institution for long-term success.
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