Nexo partners with Sift to enhance user security

Nexo is partnering with a leading digital safety company, Sift, to promote user safety and create better experiences for users.

Nexo, which is a leader in the digital asset industry, is planning to transform its approach to preventing fraud and improving security measures. The partnership with Sift will also promote a safe, fast, and reliable experience for the more than six million users at Nexo.

Nexo Leverages Sift’s Security Offerings 

Nexo will use the Payment Protection and Account Defense products offered by Sift. It will also leverage its technological capabilities such as artificial intelligence and machine learning to offer robust protection against challenges related to fraud.

With Payment Protection, Nexo will be in a position to prevent fraud on its platform. It will also provide seamless experiences like fast transaction approvals and more protection for customer funds.

Nexo will also tap Sift’s Account Defense to secure user accounts by barring account takeovers. This offering will increase the operational efficiency at Nexo. It will also trim the losses faced by users and platforms whenever accounts are compromised.

Nexo will also have access to the Global Data Network offered by Sift including its vast customer base including leading cryptocurrency exchanges. Nexo will leverage this network to battle fraud and address the challenges facing legitimate users.

Nexo’s Head of Compliance, Savina Boncheva, noted that the partnership between Sift and Nexo sought to manage digital risk. Nexo was also well-equipped to prevent fraud and create better user experiences.

Nexo Is Working to Prevent Fraud

The partnership with Sift will place Nexo in a position where it can easily identify and prevent fraud. Nexo seeks to boost the accuracy and speed of its response to fraud while boosting trust and confidence in the blockchain industry.

The Chief Marketing Officer at Sift, Armen Najarian, commented on the development saying fraud actors were constantly targeting the cryptocurrency industry. The executive acknowledged that Sift has been working with more members of the crypto community to improve safety measures.

“The crypto community is a magnet for organized fraud actors seeking financial gain,” Najarian said.

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.

By working with Sift, Nexo is taking a massive step in improving user security. The partnership is a major step forward in the journey taken by Nexo to create a safe and secure digital environment for users.

The post Nexo partners with Sift to enhance user security appeared first on Invezz