Leveraging Technology in Trade-Based Compliance: Insights from Starks Associates after Food and Beverage West Africa Event 2024

As one of the major sponsors of the Food and Beverage West Africa event 2024, Starks Associates Limited reaffirmed its commitment to enabling intra-African trade through innovative, regulatory-compliant financial solutions.

At the core of this strategic direction is Kehinde Bamidele, the company’s Vice President of Legal and Compliance, an expert in regulatory innovation and compliance operations. In this interview, Kehinde talks about her career journey, her role in shaping the company’s compliance culture, and how her work helps African businesses grow sustainably.

What was your experience like at the Food and Beverage West Africa event?

It was truly energising. The event brought together people from startups to established brands across the food and beverage sector, creating a space for real conversations about trade finance and everyday challenges African businesses face. For me, it was a chance to step away from the desk and connect directly with business owners growing across borders. We explained how Starks supports them with tailored, compliant financial solutions, and the positive response reaffirmed the importance of making compliance accessible, practical, and business-friendly. We shared stories and solutions demonstrating that we’re a real partner, not just a financial company behind a screen.

As a young leader, can you tell us about your journey with Starks Associates?

I started as a part-time legal advisor inspired by Starks’ vision to build a centralised payment settlement platform in Africa. As the company grew, I was tasked with building and leading our compliance function from scratch. Now, as the Unit lead, I work across departments to ensure we meet all legal and regulatory standards, helping Starks grow sustainably while maintaining trust with clients, partners, and regulators.

What sets Starks apart in trade finance and compliance?

We combine technology with local knowledge to create real, practical solutions. Our compliance tools help clients access alternative credit with less stringent requirements and transact safely through complex jurisdictions, especially emerging markets. We strive to make trade finance and remittance easier and more inclusive.

How does your role help Starks expand internationally?

I lead the legal and regulatory groundwork for international expansion. For example, I worked on our successful application for a Canadian MSB license, which included handling documentation, communication with regulators, and setting up systems that meet international standards.

You’ve worked across Nigeria, the UK, Canada, and Kenya. What’s it like navigating different regulatory landscapes?

Beyond regulations, understanding local culture is critical; it influences product development, marketing, planning, investment, and recruitment. Building local relationships helps reveal unwritten rules and boosts trust with banks and partners. For example, while many jurisdictions allow foreign ownership without local directors, having one can ease operations and unlock opportunities. Thorough research and community ties greatly impact success.

For African fintech startups expanding internationally, what legal and compliance advice would you offer early on?

Be ready for heightened scrutiny compared to competitors from low-risk countries. Avoid complex shareholding structures, adopt strong corporate governance, and partner with regulated entities in target jurisdictions. Establish uniform processes across markets, generally adhering to the strictest regulations to cover all bases. Embed compliance into all plans and pitches to build trust with banks and financial institutions.

What specific compliance innovations have you implemented at Starks?

One key innovation was moving from open-source verification to a robust RegTech suite featuring AI-powered transaction monitoring, real-time KYC/AML screening, and integration with global AML solutions providers. This reduced onboarding friction, strengthened fraud prevention, and ensured compliance with evolving standards. I also developed a cross-jurisdictional compliance matrix harmonising legal obligations across our regions, which keeps us agile and consistent while allowing local adaptations.

How do you balance automation and human judgment in compliance?

Automation drives efficiency by handling tasks like identity verification, screening, and transaction reporting. But human judgment remains essential for investigating AI-raised triggers and complex cases. We even schedule client meetings to explain and resolve queries, as emails alone may not suffice. This human element builds trust and ensures compliance actions are fair and reasonable.

How has RegTech transformed trade-based compliance? What tools do you use?

RegTech has revolutionised trade-based compliance by automating complex processes. Screening that once required manual checks of 30-plus sanctions lists and adverse media now happens in under a second with detailed reports. Verification of IDs like passports and driver’s licenses, tracking of expiry dates, and sending of reminders happen in real time. API connections with regulators simplify transaction reporting and real-time risk assessments. We use tools like Refinitiv for vessel screening, SumSub, Unit 21, and Seon for screening and fraud detection, and Practical Law and Lexis Nexis for legal drafting. “Know Your Country” helps with country risk classifications and regulatory sandboxes foster innovation.

How do you keep up with changing regulations?

Keeping up with ever-evolving regulations is absolutely crucial. We actively monitor regulatory updates from various jurisdictions by subscribing to newsletters, official government publications, and industry bulletins. I also participate in compliance forums, professional networks, and international working groups to exchange insights and gain early clarity on upcoming rules.

We also leverage technology platforms that aggregate regulatory changes and highlight relevant updates specific to our sectors and regions.

Are you involved in business decisions?

Compliance is deeply integrated into our business strategy. From the outset of any new product launch or entry into a new market, I collaborate closely with product managers, sales teams, and executives to identify potential legal and regulatory risks. This early involvement prevents costly setbacks and builds confidence with stakeholders that risks are managed effectively.

How do you engage staff with compliance?

Engagement is key because compliance works best when everyone feels ownership rather than seeing it as a burden or box-ticking exercise. We focus on making compliance relevant and approachable for all employees, regardless of their role.

I lead interactive workshops and scenario based training that illustrate real world situations employees might face, so they can see the “why” behind the rules. We also use regular bite sized reminders via email, intranet posts, or quick videos to keep compliance top of mind without overwhelming people. Our Founders back this approach, so it’s part of our daily culture, not just something for audits.

How is Starks helping African businesses?

African businesses face numerous hurdles in cross-border trade, including complex regulations, limited access to finance, and poor macroeconomics conditions. Starks aims to lower these barriers by simplifying and streamlining compliance processes tailored to the realities of African entrepreneurs.

We provide solutions that help small and medium-sized enterprises meet regulatory requirements more easily and quickly, saving time and cost. This includes guidance on documentation, access to compliance friendly financial products, and technology platforms that automate many tedious processes.

Our goal is to empower these businesses to scale beyond local markets with confidence and fewer risks, unlock growth and foster economic development across the continent. We believe that by making trade finance more inclusive and transparent, we contribute to a stronger, more integrated African economy.

What advice do you have for future compliance professionals?

My strongest advice is to remain curious and open minded. Compliance is much more than enforcing rules; it’s about understanding the broader business, the risks involved, and how to protect customers, companies, and communities.

Stay updated on global trends but also appreciate local nuances; regulations don’t exist in a vacuum. Never hesitate to ask questions or challenge assumptions. Lastly, commit to continuous learning whether through certifications, peer networks, or practical experience, as the regulatory landscape is constantly shifting.

What’s next for Starks?

Looking ahead, Starks is focused on scaling our technology capabilities and continuing to develop products that fit the unique context of African markets. With the African Continental Free Trade Area (AfCFTA) beginning to open doors, we see a huge opportunity to lead in making cross border trade more seamless, trustworthy, and accessible.

We plan to expand partnerships with local regulators and fintech innovators worldwide to co-create solutions that balance regulatory rigour with practical usability. Ultimately, our vision is to be the financial partner that businesses across Africa rely on as they grow internationally, supporting economic development through responsible and inclusive trade finance.