Just weeks before the national launch of El Salvador's Chivo wallet, their system was inundated with cases of identity fraud, failed transactions, and blocked accounts. Enter Netki – within 45 days, through Netki's OnboardID product, the Chivo wallet was able to onboard 4M users in 45 days.
After suffering from unprecedented fraud levels – in one instance, a singular user created 5,000 accounts – Hedera chose Netki to stop fraud dead in its tracks and grow to scale. Hedera recently achieved a milestone transaction volume of 1 billion in 2021.
Netki brought CMT Digital into the age of automated AML and KYC through their OnboardID product, saving them countless hours of manual verification and potentially millions in fraudulent transactions.