Credit Risk

FCA Authorised

FCA Authorised, ICO Registered

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The Problem

Understanding an applicant in ‘the now’ is a crucial piece of any Credit Risk Decision.

Unfortunately, Credit Reference Agencies offer scores that are retrospective and rarely paint a complete picture of an applicant’s financial situation in today’s world.

Lenders must adhere to extensive due-diligence measures to ensure they manage credit risk adequately. Relying on applicants to submit the required information, often in paper-based documents, leads to inaccurate, self-asserted affordability.

The Solution

With bank data, underwriting teams can make irrefutable decisions with the upmost confidence.

Accessing 12 months of transaction data, provided by Open Banking, offers underwriters a complete view of an applicant’s financial profile. It can identify risk in the forms of gambling or loan stacking, but also, indicators on an individual’s spending habits, missed payments history, and wider affordability.

Lenders can leverage bank data during assessment periods to reduce risk and increase the conversion rate of new applications.

Credit Risk, Redefined.

We give lenders the power to redefine their credit risk management at every stage of the credit risk lifecycle. With visual reports providing insights on end-of-day balance, income, disposable income, loan stacking, gambling and more, not only can you make decisions faster, but you can be sure that the decisions you make are made with supreme confidence.

Faster, more efficient decision making.

View your customers data in real-time through our Dashboard.

Reduce fraud and inaccuracies through direct bank authentication.

Our Platform is Open Banking & PDS2 Compliant.

Customise our Platform and design your own customer journey.

Our Platform is built for scale with speed and ease of use in mind.

Personal Loan Services

A top 5 lender in online lending services uses Open Banking data to provide a frictionless application and fast funding process. During the application phase, applicants are prompted to securely share their transaction data through the DirectID consent widget. A detailed view of the individual’s financial profile is then visible to underwriters in as little as 30 seconds, providing verification of account ownership, income and expenditure, and a magnitude of other affordability indicators.

Using Open Banking data to gather this information eliminated fraudulent applications, removed the guesswork associated with manual underwriting, and reduced the application to acceptance turnaround time, all without impacting the individuals credit score.

"The Benefits of DirectID Connect The Benefits of DirectID Connect The Benefits of DirectID Connect The Benefits of DirectID Connect The Benefits of DirectID Connect The Benefits of DirectID Connect The Benefits of DirectID Connect "

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James Varga, CEO, DirectID

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