How Buildbank MFB screened transactions and blocked ₦97 million in suspicious activity
Finhaq's automated financial crime platform delivered real-time transaction monitoring, predictable pricing, and full auditability, without vendor lock-in.
Compliance failures that cost money
Like many financial institutions, Buildbank MFB was struggling with compliance infrastructure that didn't work reliably. The specific challenges included:
- Unpredictable costs — token-based billing made it impossible to forecast compliance spend.
- Rules that didn't trigger reliably — velocity rules like "block transactions above X amount in 10 minutes" consistently failed, even after AI "restructuring".
- Rate limit errors — third-party APIs stopped working during peak transaction volumes.
- Limited audit trails — incomplete visibility created exposure during CBN examinations.
"We needed a compliance solution we could actually trust. One that wouldn't surprise us with hidden costs or fail when we needed it most."
Finhaq — automated fincrime compliance
Buildbank MFB deployed Finhaq to replace their existing compliance infrastructure. The platform was live within 24 hours.
| Module | Capability |
|---|---|
| Transaction Monitoring | Real-time AML/CFT checks on all transactions |
| Sanctions & PEP Screening | UN, OFAC, EU, UK, and Nigerian domestic sanctions |
| Detection Rules & Risk Scoring | Custom rule builder with velocity, aggregate, and watchlist conditions |
| Case Management | Dedicated compliance dashboard with workflow tools |
| Regulatory Reporting | Automated STR, SAR, CTR, FTR reporting in CBN-compliant formats |
| Audit & Compliance | Immutable logs for CBN/NFIU inspections |
Predictable pricing
Flat-fee, no token purchases, no billing surprises.
No rate limits
Our infrastructure gave them full control during peak volumes.
Rules that actually work
Velocity rules triggered reliably; delete a rule, it's gone.
No vendor lock-in
Technology they could audit and modify.
24-hour deployment
Live and screening transactions within a single day.
Full auditability
Every decision logged for examiner inspection.
₦97 million in suspicious transactions blocked
Within the first month of deployment, Finhaq delivered measurable results for Buildbank MFB.
All transactions monitored in real time without impacting customer experience.
Suspicious patterns surfaced automatically for compliance review.
Suspicious activity stopped before it could expose the bank to regulatory risk.
No suspicious transaction went undetected during the period.
No errors, no downtime, even through peak transaction periods.
From contract to production in a single business day.
What this means for Buildbank MFB
- Regulatory confidence — full audit trails for CBN examinations.
- Cost predictability — no more surprise token bills.
- Peace of mind — rules that work, every time.
- Operational efficiency — compliance team focuses on exceptions, not firefighting.
"Finhaq has given us confidence in our compliance. We screened transactions and identified 97 million in suspicious activity that could have exposed us to regulatory risk."
Why Buildbank MFB chose Finhaq
The Old Way
Finhaq
Ready to see results like these?
Finhaq is offering a 1-month free trial for qualified financial institutions. Screen up to 100,000 transactions at no cost with full platform access — no vendor lock-in.