GeoComply wins FinTech Breakthrough security award again

GeoComply has been named Financial Transaction Security Platform of the Year by FinTech Breakthrough for the second consecutive year.

The recognition comes in the 10th year of the FinTech Breakthrough awards programme, which highlights companies and products across the financial technology market.

Vancouver-based GeoComply sells digital identity and geolocation tools used to assess transaction risk. Its system draws on location, device and behavioural information across a user's activity, rather than relying on a single check at account opening or payment authorisation.

The company says this approach can help fintech groups identify fraud signals that emerge after an account is created, including account takeover, credential compromise and the use of mule accounts. It also says the model is designed to reduce the number of legitimate users incorrectly blocked by fraud controls.

According to GeoComply, false positives can be as low as 0.1%. Some customers, it says, have seen monthly fraud savings in the seven figures and cuts of about 60% in manual reviews.

GeoComply also says no customers have been fined to date for non-compliance. It presents that claim as evidence that tighter fraud controls do not have to come at the expense of regulatory standards or user access.

Award context

FinTech Breakthrough is part of Tech Breakthrough, which runs recognition programmes across technology markets. Its fintech awards cover areas including payments, banking, lending, cryptocurrency, wealth management, fraud protection and regulatory technology.

Steve Johansson, Managing Director of FinTech Breakthrough, said the judging reflected a shift in how fraud and anti-money laundering controls are being assessed.

"Traditional AML programs assess risk through onboarding and siloed liveness checks, but the signals aren't linked, making it hard to determine if a legitimate user might later sell their account to a mule, move, or even have their credentials compromised long after account creation," Johansson said."With GeoComply, continuous behavioural intelligence replaces siloed point-in-time checks that overlook key risk patterns, ensuring FinTechs don't have to choose between security, user experience and financial accessibility. We're thrilled to award GeoComply 'Financial Transaction Security Platform of the Year!'"

Fraud controls

Transaction monitoring and identity verification have become more prominent issues for digital finance groups as fraud patterns grow more complex and regulatory scrutiny remains high. Providers in this market are trying to show they can spot suspicious behaviour throughout the customer lifecycle, not just at onboarding.

GeoComply says its model is based on corroborating geolocation, device and behavioural signals over time. It describes this as a way to build a more detailed view of user intent and identity, including changes in behaviour that may indicate compromise or misuse.

The company also links that approach to access for customers with limited conventional financial records. Thin-file and underbanked users can be screened out by traditional tools because those systems may have fewer data points to support a low-risk decision, while stricter controls can create more friction for established customers.

GeoComply says more precise trust assessments can help businesses approve legitimate users more quickly, raise transfer limits and support cross-border transactions while still blocking suspicious activity. These claims form part of a wider debate in fintech over whether fraud prevention systems can be both stricter and less disruptive to users.

Company position

GeoComply says its platform has been used in heavily regulated markets for more than a decade. It also says its network includes more than 200 million device installs worldwide and more than 2 billion monthly incoming insights across sectors, including financial services, media, entertainment and iGaming.

Kip Levin, Chief Executive Officer of GeoComply, said the award reflected how customers use the platform.

"We are truly honored to be recognized by FinTech Breakthrough for the second year in a row - a reflection of the trust our customers place in us every day," Levin said. "Our platform has been pressure-tested for over a decade in the world's most regulated markets, and that foundation is what allows us to see what others miss - the subtle, evolving patterns across a user's entire journey that traditional solutions are simply not built to catch. That depth of experience is what drives us to keep solving the problems that others don't see coming, and we will continue to raise the bar for excellence so our customers don't have to choose between growth and security."