New Drop-in-Identification Solution Blocks Fraud at Global Scale, Helping Financial Service Companies Securely Onboard International Customers in Minutes

Cognito, which provides the first easy and accurate online identity verification of global customers without any code, announced today the official launch of its Cognito Flow global identity verification and compliance system.

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Cognito Flow provides the full stack of online verification requirements for global business customers, including scanning and verifying passport and driver’s license verifications, liveness checks, risk flags, and more, and can do it instantly across hundreds of countries.

Global Customer Identity Verification in Minutes

Identity verification in certain industries, such as financial services, can be subject to complex regulatory requirements. Cognito Flow provides multiple verification methods: documentary, liveness, and authoritative data source. Cognito is the only verification system available to authenticate global users in seconds for businesses.

In today’s globally connected world, nearly all businesses need to verify people outside of the country in which they operate. Regulatory compliance, consumer protection, and fighting financial crime and limiting fraud are all major concerns for companies with global customers. While highly regulated businesses tend to focus on customers who are residents of their country of operation, there are exceptions and most of the time these need to be handled manually. Cognito Flow automates the whole online identification process for businesses to make onboarding customers fast and secure.

Most companies cannot do this on their own because being good at this verification requires in-house expertise for each country. Companies trying to do this internationally also need to worry about localizing forms accurately, following local standards like date of birth, address, and name formats, and sourcing high quality ID verification data. Until now, companies would need to deploy sometimes up to a dozen different systems to account for all types of international online identity verifications. Cognito automatically takes care of all of this on a global basis.

“Identity verification is a deeply complex, ever-changing problem. We were looking for a drop-in solution that would not only stay up-to-date, but would also provide an amazing user experience in line with the quality of consumer product we’re seeking to build,” said Andy Bromberg, CEO of Eco. “Prior to Cognito Flow, we were relying on our partners’ identity verification systems, which meant a lot of manual back-and-forth between their teams and ours, and limited visibility into what’s happening behind the scenes. With Cognito Flow our compliance team can edit rules and flows themselves, without requiring intervention from an engineer. That’s an enormous advantage.”

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Cognito Flow Features:

Instant integration: the easiest identity verification available with integrated watchlist screening and periodic rescreening. This typically requires a separate system and vendor, but you can integrate Cognito Flow in just a few minutes with a few lines of code, or verify your users with a secure custom link.

Global coverage: one-click identity verification in 235 countries and territories around the world. You no longer need an expert everywhere. Connect with the best regional data sources to reduce fraud.

Fully customizable: choose not only what methods to use when verifying your customers, but also customize the look and feel to match your brand — without requiring any engineering work.

High-conversion UX: designed from the ground up to get more customers through the onboarding funnel through the design, the ability to verify by link, and the automatic re-dos when the user does not pass verification for a benign reason.

Documentary verification: read and verify 10,000+ ID documents like passports, drivers licenses and ID cards across the world with cutting-edge deep learning, machine learning (ML) and artificial intelligence (AI) to prevent fraud. Verification of the documents takes between 5 and 15 seconds and is fully automated. We support international character sets such as Hebrew, Cyrillic, Chinese, Arabic, and Japanese, which integrates hand-in-hand with our global watchlist screening algorithms.

Built-in anti-fraud: combine signals from around the web, email, IP, phone number intelligence and device fingerprinting to catch sophisticated fraudsters.

Hosted verifications: the ability to initiate an ID verification via a unique link which can be emailed on the customer’s behalf, or shared however the customer would like.

Liveness verification: if the customer chooses, Cognito uses sophisticated video analysis to ensure the person providing the ID not only matches the picture, but is also alive and not just a static picture.

Reflows: when a user’s identity verification does not pass, you can now request a Reflow from the dashboard or via the Flow API. Cognito also made it easier for customers to resubmit their document verification when it fails for a benign reason, like an out-of-focus photo or bad lighting.

“Cognito’s work with large financial service and e-commerce companies taught us that with the growing number of international customers for those industries and more complex regulatory requirements, online identity verification is becoming a real pain point,” said Alain Meier, Co-Founder and CEO of Cognito. “Cognito Flow does all of the online verification automatically, without any code required. We know from screening hundreds of millions of users, the problems that can plague a verification user experience and the issues that businesses encounter when trying to collect accurate data from their users. Cognito Flow was designed with these data points in mind so that the verification experience securely converts users from around the world with the highest possible rates.”

Cognito has run 2.73 billion watchlist scans and has conducted 76 million ID verifications. The company is growing rapidly with revenues in the tens of millions and doubling year over year.

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