Case Study: Paxful accelerates onboarding and cuts manual verifications by 90% with Prove

Paxful reduces manual verifications by 90% with Prove

Paxful, a global peer-to-peer cryptocurrency marketplace, faced the challenge of strengthening safety and security on its platform while providing a seamless and flexible onboarding experience for its users. Many of these users are unbanked and rely solely on smartphones, requiring a digital identity verification solution that could operate effectively on mobile devices without introducing friction. To meet this need, Paxful partnered with vendor Prove.

By implementing Prove's Identity Verify and Trust Score solutions, Paxful was able to accelerate its automated, digital identity verification process. This integration resulted in a massive 90% decrease in manual verifications and a 77% reduction in the time spent on identity verification. The solution from Prove successfully allowed Paxful to reduce fraud while maintaining a fast and user-friendly onboarding experience.

Paxful