About
Conduit is a cross-border B2B payments platform that provides end-to-end infrastructure for receiving, holding, and sending money across currencies. Backed by $53M in total funding, Conduit supports companies across 100+ countries.
Challenge
Rapid Growth Created a Risk Alert Backlog
As a stablecoin payments platform with high transaction velocity, Conduit operates within some of the strictest AML obligations in financial services. To maintain compliance and keep its platform secure, its team continuously monitors customer payments for illicit activity. As its customer base grew, so did the volume of transactions and risk alerts they had to investigate.
According to industry research, up to 95% of flagged transactions are false positives, but the only way to identify the real risks is to review each one with equal care.
“To clear a system alert, our team finds the transaction and related records, then conducts a detailed assessment of blockchain activity, sanctions exposure, and potential links to dark markets and money laundering,” explains Matt Hewins, FinCrime Lead at Conduit. From there, Conduit’s analysts would document their findings in an audit-ready format and disposition the case.
This process took up to an hour per transaction, and with transactions triggering cases daily, staying ahead of the backlog was becoming a full-time job in itself. For Conduit’s lean team, this constant demand diverted focus from scaling their compliance program and scrutinizing cases that actually required expert judgment.
But putting reviews on hold wasn’t an option. Left unchecked, suspicious activity could continue flowing through the platform, exposing Conduit and its customers to financial crime. Even one unresolved incident could strain stakeholder relationships and cause disruptive financial losses. Plus, industry-standard SLAs required Matthew’s team to resolve alerts within five business days. Companies that fell short risked regulatory penalties reaching into the millions.
Given the scale and stakes of Conduit’s compliance workload, there was only one answer: find an automated compliance platform that could handle alert review at scale and work within their existing systems — all without sacrificing accuracy or judgment.
Soon after Matt began exploring dedicated solutions, the Vice President of Partnerships at Conduit introduced him to Sphinx. After seeing Sphinx’s AI compliance agents in action, Matt was confident they could uphold Conduit’s compliance standards while supporting its growth.
“Waves of new clients were coming in, which led to a growing backlog of risk alerts. Clearing it manually would take a total of six months. We needed a reliable way to address it fast and without pulling our team away from growth initiatives.”
Solution
Tailored AI Agents That Clear Alerts and Scale Compliance
Sphinx integrated with Conduit’s transaction monitoring and analytics tools, with nothing more than a standard username and password. From there, Matt worked with Sphinx to configure their agents to Conduit’s risk thresholds, compliance policies, and escalation procedures.
Now, Matt relies on Sphinx to manage Conduit’s alert investigations end-to-end. The Sphinx agents work through every flagged transaction and related activity to disposition cases without pulling in Matt’s team.
For each alert, Sphinx’s agents log in to the system, open the alert record, and assemble the full transaction history together with associated blockchain activity. Following Conduit’s risk criteria, the agents then analyze transaction patterns, wallet data, and counterparty profiles to distinguish routine flows from financial crime and sanctions exposure. Cases that come back clean are closed with documented findings, and the rest are escalated to Matt’s team.
Because Sphinx’s agents are built to work like real employees, this process mirrors what Conduit’s compliance analysts would do, but faster and on a greater scale. Agents pick up each alert as it arrives, whether that’s mid-morning or the middle of the night. As a result, Matt’s team meets SLA deadlines without exception and contains suspicious activity before it escalates.
With routine alert investigation handled, Matt and his team regain time for the work that demands human judgment. They focus on complex, high-impact cases and strengthening Conduit’s compliance program, which reinforces trust with regulators and banking partners.
And when his team wants to review a past case, all investigation findings and disposition notes are available directly on the Sphinx platform. These detailed logs streamline internal audits and help Matt’s team continuously improve Conduit’s financial crime controls.
Beyond the technology, Matt has been especially impressed by how hands-on the Sphinx team remains, from initial setup through ongoing support. Working in one of the most scrutinized corners of financial services, he has peace of mind that if something needs attention, it will be addressed on time.
“Sphinx runs so seamlessly in the background, it’s like having another analyst who just hits the ground running and works around the clock.”
Results
Conduit Cleared 1K+ Transaction Alerts in Two Days With Sphinx
With Sphinx, Conduit turned alert disposition from a growth bottleneck into an enabler. Instead of worrying about keeping pace with Conduit’s alert volume, Matt’s team can now confidently process more transactions and support Conduit’s expansion into new markets.
- 10x faster disposition
- 1K+ transaction alerts dispositioned in two days
- 200+ hours saved monthly on manual alert reviews
Looking ahead, Matt plans to expand Sphinx’s role across Conduit’s compliance program. He’s already working with the Sphinx team to implement KYB reviews and ongoing sanctions monitoring, so his team stays ahead of risk while scaling with far less overhead.
“We’re in an exciting period of growth, and Sphinx is critical to that process. Their platform helps us maintain compliance and free up time so we can make our product even better.”