Case Study: BitPay scales onboarding and doubles approvals with PassFort

Bitpay Inc - Customer Case Study

BitPay, a global leader in blockchain payments and the largest bitcoin payment processor, faced rapid growth and needed a scalable Customer Lifecycle Management solution to lift conversion rates, reduce drop-offs and ensure strong KYC/AML compliance. BitPay selected PassFort’s SaaS Customer Lifecycle Management platform to automate onboarding journeys and ongoing risk monitoring across its global customer base.

PassFort digitised BitPay’s KYC workflow, maximising Straight Through Processing and real‑time monitoring, which cut Time To Decision to about 3 minutes and achieved an 89% STP rate. As a result, approval rates rose 9% and approved applications more than doubled (from 12k in Q1 2020 to over 30k in Q2 2020), while abandonment during due diligence fell thanks to a faster, frictionless process—demonstrating PassFort’s measurable impact.

Bitpay

Yamini Sagar

Senior Product Manager