Market Overview

Global Companies Enlist DirectID for Real-Time Bank Data Ahead of PSD2

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DirectID trusted online verifications and live financial data give innovative banking, payments, and other fintech disruptors two-year head start on PSD2.

Cannes, France - TRUSTECH (PRWEB UK) 30 November 2016

DirectID today announced Fleetcor, Marlette Funding and Shawbrook Bank as examples of 8 new companies using its platform for trusted online verifications and live financial data. With DirectID, these companies can reduce application fraud, enable instant customer on-boarding, and scale services internationally.

These new customers build on earlier DirectID integrations with Prosper Marketplace, Amigo Loans, Bigstone Capital, and other banking, lending, payments, insurance, property and legal businesses. Forward thinking fintech disruptors can use DirectID to unlock the power of live bank data far ahead of the expected European Union Payment Services Directive (PSD2) activation in 2018.

"We live in a convenience-first world where user experience and frictionless customer on-boarding is essential," said DirectID CEO and founder James Varga from the FinTech Stage at TRUSTECH 2016 in Cannes this week. "Trusted and verified direct bank data enables businesses to provide consumers with the convenience they demand while also building profitable and scalable services. Many of the world's most innovative fintech companies have already been proving out the promise of PSD2 using the DirectID platform today."

DirectID combines identity verification, real-time financial data, compliance checks, affordability insights and ACH payment confirmation into a single platform. This improved process automates new customer on-boarding and actively reduces risk to support growth and scalability. Businesses using DirectID reduce fraud attempts by 75%, decrease on-boarding time from days to seconds, increase back office efficiencies, and can expand product offerings to over 32 countries.

Other new DirectID customers include United Kingdom-based Amiqus, Aphility, Heylo Housing and MyKredit. In addition, DirectID announced that U.S.-based marketplace lending accelerator LendFoundry has integrated the service to offer real-time financial data and insights, such as verification income, to its participating companies for faster and more accurate credit risk underwriting capabilities.

"This growing list of innovative companies using DirectID signals the acceleration of the world's financial services marketplace towards faster, easier and stronger online verification," added Varga.

About DirectID

DirectID by The ID Co. provides a world of convenience for businesses and their customers. Trusted customer verifications and real-time financial profiles combine to help businesses increase conversions, reduce fraud and make more accurate affordability decisions for financial products. The global platform combines a frictionless user experience, full customisation, reporting and data insights available through API integration or a hosted service. Learn more at https://directid.co.

Press Contacts:

Michael Azzano
Cosmo PR for DirectID
415-596-1978
michael(at)cosmo-pr(dot)com

For the original version on PRWeb visit: http://www.prweb.com/releases/2016/12/prweb13884259.htm

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