Case Study: Banxa achieves 30x secure scaling and 80–90% fraud reduction with Sift

How Sift enabled Banxa to securely scale by 30x

Banxa, a fast-growing listed payments and compliance provider for the digital-asset industry, faced a 30x surge in volume that overwhelmed its manual fraud system. The company was targeted by fake profiles, card fraud, scams, and chargebacks, and its basic rules-based approach created friction for trusted customers while failing to keep up with increasingly sophisticated, high-velocity attacks.

By implementing Sift Payment Protection and custom workflows—leveraging machine learning, device intelligence, network visualization, and automated routing—Banxa automated detection and response across order creation and payments. The result: scam events dropped by roughly 80–90%, the team prevented more fraud with 5x fewer resources, fraud and chargeback rates stabilized, and Banxa could securely scale its business 30x while improving the customer experience.

Banxa

Igor

Head of Fraud