The ID Co. was founded in 2011 by tech entrepreneur James Varga. After working in the Scottish technology scene for some time, he quickly realised that there was a shift in the way that data was being considered.
For years, bank data was the sole preserve of the banks. The issue was that banks did not do anything with the data, and that this was untapped reservoir of information.
He realised that by utilising and activating this data could be used across a number of different use cases. Initially focusing on ID & verification, James and The ID Co. started to examine how bank data could be used by business such as banks and lenders for proving identity, income, affordability and more. This information could be used to help business overcome traditional pain points such as KYC & AML checks, proving income and employer or being able to afford a loan.
In 2018 Open Banking was made live in the UK, something James and the team at The ID Co. Had advocated for some years. To more accurately reflect the change in emphasis on using bank data to help companies, The ID Co. rebranded as DirectID in 2019.
DirectID has helped over 70 companies across the globe to use bank data to make better decisions about their customers or prospective customers. We are the bank data experts. DirectID offers a stable of products built around bank data that can be fully integrated or require zero integration, offering our customers the most comprehensive solution on the market.
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