DirectID are a British Data Awards 2021 finalist

DirectID shortlisted as a finalist at the British Data Awards 2021 for Analytics Company of the Year.
Published on
April 19, 2021
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The British Data Awards is an annual campaign that aims to uncover data success stories.

The British Data Awards was launched to help discover and celebrate the most passionate data-led organisations.

The award follows a record breaking year in which DirectID doubled revenues and onboarded 17 new customers.

The 2021 British Data Awards judges include: Neil Carden, COO of Forth Point, Jason Johnson, Co-Founder of Predatech, Mahana Mansfield, Data Science Director at Deliveroo, Tej Parikh, Chief Economist at the Institute of Directors, Harriet Rees, Head of Data Science at Starling Bank and Dr Jo Watts, CEO & Founder of Effini.

James Varga, CEO & Founder of DirectID said:

I’m delighted to see DirectID shortlisted for the Analytics Company of the Year award. This reflects an incredible year for our Data Science team that has grown by double in the last year.

Using bank data provided through Open Banking, DirectID addresses the most significant business challenges across the Credit Risk Lifecycle. By leveraging our advanced insights and analytics engines, our customers can make better and faster decisions than ever before.

DirectID aims to offer the most comprehensive, truest understanding of an individual or businesses financial profile. So, I’m thrilled to be formally recognised as leaders in the space.

Jason Johnson, Co-Founder of Predatech and British Data Awards judge said:

We set-off on a quest to find our Finalists back in February, and it’s been quite a journey. Judging the entries has been a challenge due to the number of high quality entries, but it’s also been a great privilege. It’s reminded us of the sheer talent and ingenuity that makes the UK such a global powerhouse for all things data. All our Finalists should be very proud.

The winners of the British Data Awards 2021 will be announced on Tuesday 4th May.

For the full list of finalists please visit the British Data Awards website here.

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Advanced credit & risk insights

Affordability

Assess how much your customer can afford to repay. Use enriched data to identify income, and fixed vs flexible spend.

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Affordability

Assess how much your customer can afford to repay. Use enriched data to identify income, and fixed vs flexible spend.

Income verification

Verify your customer's income across all income streams, whether it's salaried wages, freelance earnings or benefits.

Categorisation & classification

Cut through the noise of a bank statement and understand how and where your customers spend their money.

Emerging financial distress

Identify emerging financial distress to enable early intervention before your customer defaults.

SME financial health

See the balance trend of an SME’s accounts with a view on income, stability and fluctuations. View the money a business earns, spends and saves on a regular basis.

Better-informed decisions across the credit & risk lifecycle

Use cases

Risk modelling

Use open banking data in a standalone or hybrid predictive model that brings together multiple data sources. Significantly uplift predictive models with comprehensive and dynamic data.

Origination & onboarding

Reduce manual interactions for quicker decisioning. Optimise your credit risk processes using transaction data.

Credit risk decisioning

Understand your customer's affordability and creditworthiness in real-time. Embed consumer transaction into your predictive model.

Portfolio management

Track cashflow changes across your portfolio to identify trends and drive lifetime value.

Collections & recoveries

Get insights on affordability, income, cashflow and more, to empower your collections teams and optimise the recovery process.

What our customers say

Customer stories
Testimonials - Fintech X Webflow Template

DirectID began working with Target at the beginning of 2020 to provide open banking data for their new Mortgage Hub. It is the first digital mortgage platform to be designed from the ground up, and the first to use open banking data as the backbone for customer experience.

Global vehicle manufacturer

Automotive financing

Testimonials - Fintech X Webflow Template

DirectID began working with Target at the beginning of 2020 to provide open banking data for their new Mortgage Hub. It is the first digital mortgage platform to be designed from the ground up, and the first to use open banking data as the backbone for customer experience.

Shieldpay

Multi-award winning payment platform. Designed for highly secure & efficient transactions. Trusted by over 100 law firms, lenders and professional services.

Testimonials - Fintech X Webflow Template

DirectID began working with Target at the beginning of 2020 to provide open banking data for their new Mortgage Hub. It is the first digital mortgage platform to be designed from the ground up, and the first to use open banking data as the backbone for customer experience.

Target Group

A Tech Mahindra company and a leading business services provider in lending, investments and insurance, managing over £25bn+ assets.

Testimonials - Fintech X Webflow Template

DirectID began working with Target at the beginning of 2020 to provide open banking data for their new Mortgage Hub. It is the first digital mortgage platform to be designed from the ground up, and the first to use open banking data as the backbone for customer experience.

Best Egg

Consumer-lending platform developed by Marlette Holdings, Inc.

Testimonials - Fintech X Webflow Template

DirectID began working with Target at the beginning of 2020 to provide open banking data for their new Mortgage Hub. It is the first digital mortgage platform to be designed from the ground up, and the first to use open banking data as the backbone for customer experience.

Dana

A lending as a service provider using open banking to strengthen their credit scoring engine

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Frequently asked questions

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01

What is open banking and how does it work?

Open banking is the practice that allows people and businesses to share up to 12 months of transaction data. DirectID is regulated by the Financial Conduct Authority as an Account Information Service Provider (AISP) - the intermediary who safely facilitate this process.

02

What is transaction categorisation?

Transaction categorisation is the process of adding context to raw transaction data. The process gives you an understanding of what your customers' spend their money  and where.

03

How does bank account verification work?

Using the bank account verification API, DirectID matches the details provided from your customer to those on their account. We apply a set of sophisticated algorithms and rules to verify the name, and then tell you what does and does not match.

04

How do you verify income with open banking?

After a customer shares their data, DirectID identify recurring credits to the account and group these. Using an algorithm we identify the monthly income for each income stream. We then return the calculated income and confidence score to you.

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