Protect Your Business Against Fraudulent Applications and Identity Theft

To give your business the fraud protection it needs, you need a stronger method of verifying your customers’ identities than physical document requests or PDF statements. You need to ensure customers’ personal electronic bank details are authentic without increasing your security requirements by storing confidential information. 

But how do you confirm this vital information, especially when you recognise the time and resource required to investigate every new customer manually? The solution is DirectID, from The ID Co. Read on to learn more, or try our DirectID protection and security tools today. 

Fraud protection using DirectID

Protection, Security and Compliance Covered

DirectID fits seamlessly into your current onboarding processes, allowing you customer to provide direct (read-only) access to their bank account, helping your business stay protected against fraudulent activity, secure from identity theft, and compliant with the toughest industry regulations.

Fraud Protection

DirectID takes the most accurate data available – the customer’s own electronic bank details – and matches it against bureau-confirmed data. This offers a reliable profile without simply relying on personally supplied data or publicly-accessible information. This removes the worry of document tampering that comes with scans of traditional bank statements. 

Identity Theft Security

When verifying customer’s identity, too many companies still rely on information available to the public, including name, address, and bank account number / sort code. DirectID verifies customers’ details directly through their bank, removing the need for relying on public information. This protects you and your customers from identity thieves who wouldn’t have access to those private bank credentials but could have access to the public record. 

Easy Compliance

Your business needs to maintain AML, KYC and PSD2 compliance whilst continuing to be secure and protect information. DirectID’s fraud protection tools make it easier than ever to comply with the latest regulations. By ensuring that your business operates within the legal guidelines, you’ll maintain your customers’ identity security and reduce the risk of regulatory penalties while protecting your business.

Download our fact sheet to learn more about how DirectID can help you with fraud protection and identity theft security.

What Is Identity Fraud?

Identity fraud typically occurs when an individual’s name, address, date of birth or other personal information is used by someone else for their own financial gain, such as to make purchases or apply for credit. 

  • Fraud protection and identity theft securityConsumers targeted: The modern identity thief doesn’t stop at simply using a victim’s card details for a few sneaky purchases, they can exploit individuals’ information to illegally solicit a company’s services too. 
  • Businesses targeted: Thieves also target businesses directly, attacking their information security and attempting to steal confidential information. Identity security is more important now than ever before. To protect your business and your customers, you need to make fraud protection a priority. 

With DirectID, you’ll have the most accurate screening process possible, making customer onboarding and asset protection streamlined and effective. Read on to discover how DirectID will enable you to step up your fraud security game. 

Fraud Protection

When it comes to identity security, DirectID is the Sherlock Holmes of fraud protection services. Our thorough process takes the most reliable source of information available – instant (read-only) access to a customer’s current online bank account – and matches it with bureau-validated data to create the strongest profile possible for potential customers. 

It’s this ultra-secure approach using real-time bank authentication that reduces risk to your business’s fraud security and finances. After all, the more successful your business becomes, the more frequently it will become a target for an opportunistic identity thief. 

We are already making a difference helping companies prevent fraud. After implementing DirectID as their customer verification and fraud protection service, eMoneyUnion decreased their conversion time to same-day application approvals and funding, met responsible lending requirements, and saw a reduction in fraud attempts by 75%! Check out our case study of eMoney Union today, to see just how they did it. 

Identity Theft Security

If you want to maximise your identity theft security, you need to find a better way of receiving applications than paper documentation being sent by post or emailed as PDFs. Potential customers providing their own documents for the bank validation process is a relatively simple process for a fraudster to take advantage of. In this day and age this information can be manipulated out of either business or individuals.  
Bank Account Verification tools

The accuracy of DirectID’s bank verification process lies in having direct (read-only) access to the consumer’s account, provided with consent through secure online banking authentication. This gives you access to their account details and transaction information directly from the bank, and because it is a direct read-only format, it can’t be tampered with. 


    Why DirectID?

    Maintain your good reputation, protect your assets, maintain compliance, eliminate fraud and offer a smooth customer experience; it might sound like a tall order, but with DirectID, it’s easy. 

    • Bank Verification: Using secure log-in credentials to connect customers with their accounts, you’ll see original electronic bank statements directly from the banks themselves. 
    • Authentic Account Details: Bank details are matched throughout the secure log-in process, and by ensuring you are using bank authenticated data you remove risks of fraudulent user account details. 
    • Live Financial Transactions: Having been granted access by customers to their online accounts, you’ll be able to see historical records and live updates of financial transactions, providing your business with the opportunity of a direct and thorough audit. 

    With cases of identity fraud coming at your business from all angles, you don’t want to have to worry about the customer onboarding process, the effectiveness of which is arguably the most vital factor to the success of a business. 

    Using DirectID you can quickly and seamlessly integrate our widget or hosted solutions with your existing processes, and access authenticated (read-only) bank account data directly, ensuring customer verification and onboarding isn’t only effective and streamlined; it’s secure.

    Interested in DirectID?

    Fill out the form to arrange a demo today. Our helpful team can work with you to understand your business requirements, and how DirectID can help your assessment and onboarding processes. easy customer onboarding and tools

    Organise a Demo today!

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