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

Banxa reduces adverse media matches by 43.5% with ComplyAdvantage

Banxa, a cryptocurrency infrastructure provider, faced challenges in scaling its compliance operations to match rapid business growth while managing a high volume of false positives in its PEP and adverse media screening. To improve the efficiency and effectiveness of its AML screening, Banxa turned to the compliance solution from ComplyAdvantage.

By implementing ComplyAdvantage's configurable platform, Banxa gained access to up-to-date global sanctions and PEP data. The vendor's solution allowed for tailored adverse media searches and refined match settings, which resulted in a 43.5% reduction in adverse media alerts. This enabled Banxa's compliance team to focus on high-risk cases and achieve greater operational efficiency.

Banxa