Cognito will be providing online identity verification services for Meow. The latter is building an investment platform for corporate treasuries, and will specifically be using the Cognito Flow solution to confirm the identities of its clients’ team leaders remotely.
Meow cited the platform’s ease of use as a primary factor in its decision. In that regard, Cognito Flow can be deployed without any code, and perform document and liveness checks in addition to watchlist screening. The solution will cross-reference a new user’s personal information with hundreds of data sources from all over the world to ensure that the identity is legitimate and that that person does not present a high risk of fraud.
The use of document recognition and liveness detection helps bind the actual user to that identity. Cognito Flow can be used to scan documents like passports and driver’s licenses to make sure they are authentic, while a selfie ensures that the person associated with that document is present for the interaction. In doing so, it allows people to securely sign up for various services even when they are not physically present.
“Cognito has improved our conversion rates and has made onboarding a breeze,” said Meow Brandon Arvanaghi. “I would strongly recommend Cognito to anyone who wants to streamline KYC and improve their funnel conversion rates.”
“We’re thrilled to partner with Meow,” added Cognito CEO and Co-Founder Alain Meier. “The company has put security and compliance first, using cutting-edge technology and robust verification methods to protect their users.”
According to Cognito, its solution is particularly popular with cryptocurrency exchanges. The company itself has benefited from the growing demand for digital identity verification options, and is now bringing in tens of millions of dollars in revenue from more than 2.73 watchlist checks and 76 million total document verification scans.