DirectID’s certified bank verification and transaction data feeds enable these lenders to make more accurate underwriting decisions reduce fraud and meet compliance requirements.
DirectID identity verification time averages 24 seconds for the applicant, speeding up a traditionally off-line verification process that can take up to three to five days. The service also makes available up to 365-days of read-only certified bank statement transaction data.
According to the company, almost 75% of consumers working with the new lenders, choose online bank verification with DirectID rather than visit a branch or upload bank statements. The new direct customers announced in 2016, are located in UK, Australia and US.
DirectID provides on one-time customer verifications with a frictionless user experience that can be embedded directly into a business’s existing process. Its services are used by global retail banks, wealth management platforms and online lenders across five continents.
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