Sardine

High-Level Overview

Sardine is a fraud prevention, verification, and compliance platform that leverages behavioral biometrics, device intelligence, and AI-driven risk scoring to detect scams, identity fraud, and money laundering across the customer lifecycle.[1][2][3] It serves fintechs, neobanks, crypto exchanges, banks, ecommerce, and enterprises like Brex, Ramp, Nike, and seven of the 15 largest US banks, solving the problem of sophisticated fraud outwitting traditional rules-based systems by infusing behavior signals into KYC, KYB, transaction monitoring, and instant ACH payments.[1][2][3] As of March 2024, Sardine powers over 250 businesses in 150+ countries, with strong growth from 50 clients in early 2022 to 300+ by mid-2023, expanding from crypto-focused origins to broader financial services.[1]

Origin Story

Sardine was founded in April 2020 by three Revolut alumni with deep expertise in fintech and crypto fraud prevention, including CEO Soups Ranjan, a data scientist who previously tackled fraud at Coinbase and Revolut after witnessing over $1 million in identity fraud losses.[1][4] The idea emerged from their frustration with siloed data providers and fragmented dashboards, prompting them to build a unified platform combining proprietary signals with machine learning; the name playfully nods to Suspicious Activity Reports (SARs) filed for fraud and AML cases.[1][4] Early traction came from crypto customers like FTX, Brex, Chipper Cash, and MoonPay, with rapid expansion by building fraud models from credit reports on defaulted borrowers and tailoring solutions for crypto on-ramps and NFTs.[1]

Core Differentiators

• Behavior-Infused Platform: Proprietary device intelligence and behavior biometrics (DIBB) baked into every layer, combined with ML models, rules engines, and data from 40+ providers (e.g., email, telco, credit), outperforming competitors by detecting subtle fraud patterns like account takeovers and synthetic identities without user friction.[2][3]
• Full-Lifecycle Coverage: Modular tools for identity fraud, KYC/KYB, sanctions screening, continuous monitoring, and "True Piercing™" to dismantle fraud rings by linking users, devices, IPs, and cards in one dashboard and API.[1][3]
• Crypto and Payments Tailoring: Instant ACH via partnerships like Cross River, plus specialized crypto features (e.g., NFT checkout), enabling high-volume, low-friction transactions for neobanks and fintechs.[1][5]
• Operational Efficiency: Single contract/API consolidates vendors, with case management, 314(b) data sharing for banks, and automated workflows for credit underwriting, serving 250+ global clients including Plaid and Mattel.[1][2][3]

Role in the Broader Tech Landscape

Sardine rides the surge in digital payments and crypto adoption, where ACH, instant rails, and neobanks face exploding fraud amid regulatory scrutiny on AML and KYC, amplified by sophisticated scams like synthetic identities and organized rings.[1][5] Its timing aligns with post-FTX shifts toward robust compliance in fintech, enabling safer fiat-to-crypto bridges and scaling for enterprises like Ramp and Nike, while API integrations (e.g., with Cross River) enhance money movement reliability.[1][5] By consolidating fragmented fraud tools into one AI platform, Sardine influences the ecosystem by boosting fintech conversions, reducing vendor sprawl, and fostering collaboration via shared intelligence, positioning it as a key enabler in a market projected to demand behavior-based defenses as scams evolve.[2][3][4]

Quick Take & Future Outlook

Sardine is primed for accelerated enterprise adoption, leveraging its $145M funding from top investors to expand modular AI tools amid rising global fraud pressures and regulatory demands like real-time monitoring.[1][4] Trends like AI-driven scams, embedded finance, and cross-border payments will amplify its behavior biometrics edge, potentially capturing more of the $40B+ fraud prevention market through partnerships and international scaling.[2][3] Its influence may evolve from crypto specialist to indispensable risk platform for banks and Big Tech, tying back to its core strength: preempting fraud with unified, proactive intelligence before losses mount.[3][4]