How Safello went from hours of AML investigations per day, to minutes.

90% less false positives

After implementing our API, Safello saw a 90% reduction in false positives.

2h/day to minutes

Safello went from 2h of AML investigations per day to minutes.

Cut cost down by 50%

With our API, Safello saved 50% of the workload for a full-time employee.

The challenge

A high level of false positives

Safello is a market leader offering 350k+ Swedish customers to buy, sell and hold cryptocurrencies. As a financial institution, the company has always been investing resources to keep the highest standards of the AML processes while remaining the best possible customer experience.

Onboarding customers within seconds was possible with the use of BankID verification and many automated steps in the background. While the majority of customers benefited from the streamlined process, the Safello staff struggled with the amount of false-positive alerts as a result of the screening process, especially on the PEP side.

Their PEP & Sanctions verification process was a labor intensive one, since they both had to investigate a high level of false positives alerts and spend countless manual hours on figuring out why e.g. XYZ person was not the same as YZX.

Safello saw a 90% reduction in false positives after switching to Pliance; we went from hours of investigations per day to minutes
Matt Broniarek Head of Operations @ Safello

The results

Smooth and cost efficient AML process

It was clear that Safello was in need of a solution that streamlined their workload into a more efficient AML process. By partnering with us at Pliance, Safello now has exactly that.

We built a solution enabling PEP screenings based on personal ID numbers - information gathered from BankID based verification - and a smooth workflow making sure Safello gets everything into their own system and preference, resulting in:



verification during onboarding

Confidence boost

for internal AML process

Simplified workflow

for the whole team

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