Case Study: Banxa improves PEP and adverse media screening efficiency with ComplyAdvantage

Banxa improves PEP and adverse media screening efficiency with ComplyAdvantage

Banxa, a leading crypto infrastructure provider, needed a better way to scale ongoing monitoring and improve efficiency when onboarding new customers as it grew rapidly in the cryptocurrency market. Its compliance team was struggling with a high volume of false positives while screening existing and new customers for AML, PEP, sanctions, and adverse media risks, so it turned to ComplyAdvantage for a more flexible screening solution.

ComplyAdvantage provided Banxa with up-to-date global sanctions and PEP data, configurable match settings, tailored adverse media searches, and customized monitoring profiles aligned to Banxa’s risk profile. As a result, Banxa achieved a 43.5% reduction in adverse media matches, improved operational efficiency, and optimized monitoring volumes, allowing the compliance team to focus on the highest-risk alerts.

Banxa

Teresa Lau

Head of Compliance