DirectID, the open banking provider specialising in credit and risk decisions, is proud to announce a partnership with LendInvest, a leading platform for mortgages in the UK. This collaboration marks another significant milestone in alternative credit assessment, as two fintechs collaborate to streamline the lending process in the property finance market.
DirectID's solutions leverage open banking data to provide risk managers with deep insights into their customers. By harnessing the power of real-time financial information, DirectID enables risk managers to make faster, more accurate lending decisions, ensuring a seamless experience for borrowers and enhancing risk management for lenders.
LendInvest, known for its commitment to innovation in the property lending sector, has joined forces with DirectID to enhance their lending decisions for property finance products. By switching to DirectID, LendInvest has simplified their process of verifying income and deposit funds and credit risk with the assistance of DirectID's insights. The use of DirectID has reduced underwriting times, providing a greater picture of the customers' finances and enabling faster lending decisions.
Will Maciver, Customer Success Manager at DirectID, said:
DirectID's expertise in open banking data for credit and risk decisions synergises perfectly with LendInvest's technology-driven mortgage platform. This partnership heralds a new era of credit assessment and enhances our efficiency in property finance.
By incorporating DirectID's insights, LendInvest gains a competitive advantage, streamlining lending decisions with a more comprehensive view of customer financial profiles. As DirectID's Customer Success Manager, I'm thrilled about the transformative potential of this partnership in reshaping the landscape of property finance.
DirectID is a leading open banking provider specialising in credit and risk decisions. Using open banking data, DirectID equips global organisations with insights to fuel business growth and mitigate risk.
Through the extraction of critical insights such as credit scores, affordability, income, and financial health, DirectID gives organisations a comprehensive understanding of individuals and businesses' financial profiles. These insights are instrumental in making better informed decisions regarding creditworthiness, portfolio management and risk assessment.
Central to DirectID's mission is a commitment to financial inclusivity, demonstrated by their ambitious initiative to launch the first global credit score.
This initiative aims to democratise access to affordable financial products and services for individuals worldwide, aligning with their vision of a more inclusive and accessible financial landscape.
LendInvest is the UK’s leading technology driven platform for mortgages, and is listed on the London Stock Exchange (AIM: LINV). LendInvest offers short-term, buy-to-let and homeowner mortgages.
Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance. LendInvest has lent over £6bn of short term, development and buy-to-let mortgages. Its funders and investors include global institutions such as J.P. Morgan, HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of buy-to-let mortgages.
The company was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, Buy-to-Let Lender of the Year for 2020 at the NACFB awards, and one of FT1000’s Fastest Growing Companies in Europe