Cogni is set to launch
Cogni , the NY-based digital banking platform backed by Guggenheim Partners , is set to launch on March 20th, 2020.
The startup, founded in 2016, has been in emerging mode for a while and once launched, it aims to connect members’ banking with their lifestyle while evolving with them as their needs change to eventually combine banking, commerce, and lifestyle on a single platform.
Upon launch, Cogni will offer no-fee digital banking accounts with no account minimums, free cash withdrawal at over 55,000 ATM’s, free peer-to-peer transactions, virtual and physical debit cards, the ability to create single-use debit cards to protect from fraud and hidden recurring fees, and multiple funding options: cash deposit through Visa Redylink, in-app check deposit (available the first week in April), direct deposit, ACH Transfer and P2P.
“We are excited to share Cogni with our first members. We’re taking a phased approach in building Cogni. Learning from our members is key as we continue to develop our offering. We’ll launch with banking features and then expand to integrate commerce and lifestyle options into our ecosystem. Ultimately, we want Cogni to be the operating system for lifestyle and we see banking as the first step in this journey. Lifestyles are changing and consumers want a better digital experience.” – Archie Ravishankar, Founder & CEO of Cogni.
Bottom Line: Cogni and Guggenheim Partners met at a Coverager event.