Nexo is partnering with Sift to enhance security measures and ensure a smoother, quicker, and more reliable experience for customers. Specifically, Nexo will utilise Sift’s Payment Protection and Account Defence products. It will leverage its advanced artificial intelligence and machine learning technology, and real-time intelligence to provide robust protection against a wide array of account and payment fraud challenges.
Payment Protection will enhance Nexo’s platform with state-of-the-art payment fraud prevention. The aim is to achieve faster transaction approvals, and improved protection of customer funds. In parallel, Sift’s Account Defense will secure user accounts by preventing account takeovers. This will accelerate Nexo’s operational efficiency and reduce losses associated with compromised accounts.
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Nexo gains access to Sift’s global data network
Sift’s consortium of customers includes dozens of the world’s top crypto exchanges. The insights gleaned from the network will allow Nexo to prevent fraud more accurately and quickly, and reduce friction for legitimate users.
“The synergistic alliance between Sift and Nexo demonstrates our unwavering commitment to a user-centric ethos, harmonised with robust security and anti-fraud protocols. By harnessing Sift’s cutting-edge technology and comprehensive platform for managing digital risk, Nexo is equipped to adeptly prevent fraud while creating a streamlined experience for our users,” said Savina Boncheva, Head of Compliance at Nexo.
“The crypto community is a magnet for organised fraud actors seeking financial gain,” added Armen Najarian, Chief Marketing Officer at Sift. “By joining Sift’s global data consortium and leveraging our AI-based risk decisioning platform, crypto exchanges like Nexo can greatly reduce fraud and create better experiences for legitimate users. We’re pleased to welcome Nexo to the Sift customer community and look forward to a successful and long-term partnership.”
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