Case Studies

Gotrade Case Study

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Gotrade partnered with Onfido to verify new investors with a mobile- first experience, powered by Onfido's Document, Selfie, and Watchlist Check services. Before new Gotrade customers can start trading, they are asked to take a quick capture of their ID and a Selfie on their phone. Gotrade looked for a solution that could deliver fast and accurate verification results, and could scale to support high volumes as Gotrade rapidly grew their customer base. Onfido ticked all these boxes, and the results are clear to see for both Gotrade and their investor base. The solution Gotrade are building an investment world without borders or barriers. Their goal is to make investing accessible for those around the world who have been traditionally excluded. Starting with a mobile-first experience, Gotrade are enabling access to US equities for their global customer base of over 100,000 investors. As a licensed financial institution, Gotrade must comply with KYC/ AML regulations to protect both their customers and their business. This requires Gotrade to verify the identities of customers signing up to the investment platform, including confirming that a customer is genuine, and not a Politically Exposed Person or listed on a Sanctions watchlist. Gotrade wanted to address these needs with two key points in mind. Gotrade are a mobile-only business, and wanted to ensure that they could seamlessly verify customers without the need for in-person calls. And with ambitious growth aims, Gotrade must ensure that they can scale onboarding without putting strain on their internal operations team. For Lex, Head of Marketing at Gotrade, "if we were manually reviewing each customer, that would put a bottleneck on our growth". Faced with satisfying strict compliance needs without compromising on customer experience and internal bandwidth, Gotrade turned to Onfido to help them seamless and securely verify customer identities. The challenge Gotrade are building an investment world without borders, barriers, or minimums. Founded in 2019, and with over 100,000 investors in 150 countries today, Gotrade is enabling commission-free trading to the masses from as little as $1. 50+ % 90% powered by Onfido's AI-driven verification technology of investors approved within five minutes for a more seamless 'straight-through processing' experience for customers improvement in end-to-end automation case study

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