21 January 2022
Written By FinTech Alliance in Fraud Detection
Open banking payments business Plaid has acquired an identity verification and compliance platform.
In Brief:
Cognito offers ID verification to a number of FinTechs, around KYC and AML compliance.
It supports many of Plaid’s customers, including Affirm and Brex.
The deal is reportedly worth $250mn.
What does this mean?
Plaid will now use Cognito within its onboarding process, from verification to account funding.
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