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OPay is stepping up investment in compliance, artificial intelligence and risk management as the fintech seeks to strengthen customer protection and build greater trust across Nigeria’s rapidly expanding digital payments ecosystem.
The move comes as electronic payments continue to grow in Nigeria. Data from the Central Bank of Nigeria’s inaugural Fintech Report showed that transactions processed through the NIBSS Instant Payment platform nearly doubled from about five billion in 2022 to almost 11 billion in 2024, underscoring the scale of the country’s shift towards real-time digital payments.
More Than 5,000 Rules Monitor Transactions
OPay said it has spent the past three years developing an Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) risk-control and compliance system that combines artificial intelligence, big data and real-time transaction monitoring.
The fintech’s risk-control infrastructure contains more than 5,000 real-time monitoring and blocking rules alongside more than 10,000 risk-feature profiles designed to identify unusual transaction patterns.
According to OPay, suspicious activity can trigger immediate intervention, allowing potentially fraudulent transactions to be stopped before they result in losses.
The company said its transaction fraud rate has remained below 0.001%, a level that aligns with the CBN’s broader push to reduce fraud losses through technologies such as AI and stronger identity-verification systems.
Tackling Fake and Stolen Identities
Identity fraud remains another major concern for digital financial platforms.
Data from the Nigeria Inter-Bank Settlement System (NIBSS) showed that digital payment and identity fraud declined by 51% to ₦25.85 billion in 2025, from ₦52.26 billion in 2024. The decline followed tighter identity-verification requirements involving the Bank Verification Number (BVN) and National Identification Number (NIN).
However, the persistence of identity-related fraud means verification remains a critical component of fintech security.
OPay said it has introduced live facial-detection technology to identify impersonation attempts and other efforts to circumvent its identity controls.
The company claims its systems have detected and blocked more than one million fake identities, while its facial live-detection technology stops tens of thousands of attacks every day.
AI Moves From Detection to Prevention
OPay’s approach is centred on detecting suspicious behaviour as early as possible rather than waiting for customers to report problems.
The fintech said it has integrated AI models and intelligent-agent technology into its risk-management processes to analyse customer and transaction data automatically.
When abnormal activity is identified and confirmed, its controls can intercept transactions and, where necessary, permanently suspend affected accounts.
This approach is particularly important as financial crime becomes increasingly sophisticated and fraudsters adapt their methods to exploit digital payment systems.
Compliance Becomes a Competitive Issue
For OPay, compliance is not limited to meeting regulatory requirements.
The fintech views Know Your Customer (KYC), anti-money-laundering controls, cybersecurity, data protection and governance as components of a broader strategy to maintain customer confidence.
The company also acknowledges that technology alone cannot eliminate financial crime. Customers remain part of the security chain, meaning awareness about protecting accounts and personal information is equally important.
OPay says its compliance strategy therefore covers technology, people, processes and governance, rather than relying exclusively on automated systems.
Trust Could Shape the Next Phase of Fintech Growth
The emphasis on compliance comes at a time when Nigeria’s fintech industry is moving beyond the race to acquire customers and transaction volumes.
As more Nigerians depend on digital platforms for everyday payments, the ability to protect funds, identities and personal information is becoming increasingly important to the long-term sustainability of fintech businesses.
OPay’s strategy also reflects the wider industry need for collaboration among regulators, banks, fintech companies and technology providers to address emerging financial and cyber risks.
For the fintech, stronger controls could support customer confidence and, in turn, encourage wider adoption of formal digital financial services.
A Bigger Ambition Ahead
OPay’s compliance investment also takes on added significance as the company pursues an ambition of reaching one billion users by 2031.
That scale would bring considerably greater responsibility for managing fraud, identity risks and financial-crime threats across its ecosystem.
The challenge for OPay will be maintaining the effectiveness of its controls as its user base expands and fraudsters develop new ways of circumventing automated systems.
For now, the fintech is betting that trust, security and compliance can become as important to its growth story as convenience and innovation.
