Document Verification added to DirectID platform, increasing value for lenders.
Edinburgh, U.k. The ID Co. has added document capture and verification to the DirectID platform, building on the value delivered to lenders from bank and bureau data. This gives DirectID customers the ability to use a single platform for multiple elements of their onboarding process and reduce the friction for their applicants caused by offline steps.
Customers are now live with this technology, using it to verify the identity of their applicants in a controlled and secure environment. In addition to having documents authenticated by industry-leading technology, this increased functionality gives lenders the ability to have their applicants upload images of their documents without the need to scan or mail in copies, saving them time and hassle.
The ID Co. CEO James Varga said:
“in many industries it is a regulatory requirement to obtain identity documents as part of the onboarding process, so including the ability to capture and verify these within DirectID greatly increases the functionality for our customers. We feel that combined with the data from bank verification and credit bureaus, this completes the picture by giving lenders a complete 360 view of their applicant’s identity, affordability and financial position.”
DirectID’s Document Verification services leverages advanced machine learning to instantly assess and report on the authenticity of an ID document. With global coverage, ID verification helps lenders comply with stringent Anti-Money-Laundering, Know Your Customer and payments services regulations.
DirectID by The ID Co. provides a world of convenience for businesses and their customers. Trusted customer verifications and real-time financial profiles combine to help businesses increase conversions, reduce fraud and make more accurate affordability decisions for financial products. The global platform combines a frictionless user experience, full customisation, reporting and data insights available through API integration or a hosted service. Learn more at https://theidco.com/directid