Nigerian digital security firm Prembly has unveiled a new fraud intelligence platform called FraudLens aimed at helping financial institutions and digital businesses detect and prevent fraudulent activities. The open source platform is designed as a publicly accessible repository of fraud related data, beginning with Nigeria, and seeks to strengthen fraud prevention systems across Africa’s rapidly expanding digital finance ecosystem.
According to the company, FraudLens was built using insights from millions of identity verification checks conducted through Prembly’s technology infrastructure. The system aggregates fraud incidents reported by businesses and partner financial institutions, then analyses the data using behavioural and forensic methods to identify patterns and potential threats that could help organisations detect fraud earlier.
Chief Executive Officer Lanre Ogungbe said the initiative was developed to address a major gap in fraud prevention across the region. He explained that while many organisations experience similar fraud threats, the absence of shared intelligence often allows criminals to exploit vulnerabilities across multiple platforms. By centralising fraud related data, the platform aims to enable institutions to identify known bad actors and improve security across digital financial systems.
Founded in 2021 by Ogungbe alongside Niyi Adegboye and Tolu Adetuyi, Prembly provides artificial intelligence driven services such as identity verification, background checks and fraud detection tools to companies operating in Africa and other regions. Its suite of products includes IdentityPass and IdentityRadar, which help organisations verify identities, comply with regulations and reduce risks linked to digital transactions.
FraudLens is expected to support multiple stakeholders including financial institutions, fintech companies, researchers and consumers. Businesses will gain access to verified intelligence on fraud cases and suspicious identities, while researchers and policymakers can use the repository to inform regulatory strategies. Consumers will also be able to access insights that highlight common scam tactics and warning signs, as African startups including Smile ID and Dojah continue developing technologies aimed at strengthening trust and security in the continent’s digital financial sector.