To give your business the fraud protection it needs, you need a stronger method of verifying your customers’ identities: comparing customers’ personal electronic bank details with bureau-confirmed data. But how do you confirm this vital information, especially when you don’t have the time or resources to investigate every new customer manually?

The solution is DirectID.

Download our fact sheet or watch our on-demand webinar to learn more.

Key Features

DirectID fits seamlessly into your current onboarding processes to help your business stay compliant with the toughest industry regulations, including:

Fraud Protection

By taking the most accurate source available, the customer’s own electronic bank details, and matching it against bureau-confirmed data, DirectID creates a reliable profile without simply relying on supplied personal data or publicly-accessible information. This removes the worry of document tampering that comes with scans of traditional bank statements.

Identity Theft Security

Many companies still rely on information available to the public, including name, address, and bank account number/sort code, when verifying a customer’s identity. 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 would have access to the public record.

Easy Compliance

Your business needs to maintain PSD2, AML and KYC compliance, and DirectID’s fraud protection service makes 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.

Get your free demo and see for yourself how DirectID reduces risk at a few clicks of a button.

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 loans.

But the modern identity thief doesn’t stop at simply using a victim’s card details for a few sneaky purchases. The modern identity thief targets businesses, as well, exploiting individuals’ information to illegally solicit a company’s services or even attack their information security.

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 in greater detail a few ways in which 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 – read-only access to the customer’s 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.

Reduce fraud attempts by 75% – check out our case study on eMoneyUnion.

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%.

Identity Theft Security

If you want to maximise your identity theft security, you must move on from the days of potential customers simply providing their own documents for the bank validation process. It’s relatively easy for a fraudster to obtain this information from vulnerable individuals, paving the way for substantially more cases of identity fraud than ever before.

The accuracy of DirectID’s bank verification process lies in having access to the consumer’s account, provided with consent through secure online banking authentication. This provides access to their account details and transaction information, directly from the bank and in read-only format so it cannot be tampered with.

When necessary, DirectID offers the add-on service of matching of this information with bureau-validated data, creating a system of checks and balances by comparing information from sources that cannot possibly corrupt one another. Relying solely on bureau checks, as some systems do, is not always enough to maximise your identity theft security, with much of that information being available to the public.

With DirectID, uncertainty is eradicated, as you’ll have the clearest picture possible of each and every customer’s identity, tied to their trusted banking provider and reducing risk to an all-time low:

  • Confirm identity through secure bank authentication
  • Match electronic bank details against bureau-validated data
  • Instantly access customers’ financial transaction histories up to 365 days
  • Check account balances, including ISA’s, current and savings accounts, and even credit cards
  • Learn customers’ credit histories and credit scores, including any red flags such as late payments or debt

Why DirectID?

Download our fact sheet or watch our on-demand webinar to learn more details about how DirectID carries out customer verification in the most secure way possible.

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.
  • Bureau-Validated Checks: Bank details are matched up with bureau-validated data, ranging from credit reports to CCJs. By mixing these diverse sources with information directly from the customer’s bank, you eliminate the risk of document tampering.
  • 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.

With DirectID, customer verification and onboarding isn’t only effective and streamlined; it’s secure.

Discover for yourself how DirectID maximises security while optimising onboarding – get your free demo here.

"Bank statements don’t lie. With DirectID, the credit decision and ID is immediate and obvious."
Lee Birkett, CEO

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