DirectID's James Varga joins Open Banking World Congress Panel

DirectID joins panel at the Open Banking World Congress to discuss how to commercialise open banking globally.
Published on
April 26, 2022
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DirectID CEO & Founder, James Varga, will be on the SHIFT panel at the Open Banking World Congress. The event will be hosted at the Don Carlos Resort, Marbella, on 24th - 25th May 2022.

The panel “Great idea, but how are you going to make money from it?” will see UK fintech founders discuss how to create a return on open banking for the CMA9. James will be discussing how to accelerate the momentum behind the Open Banking global trend.

He said:

Open Banking is, and always will be, a global trend. It's just taking longer to reach commercialisation in some places. Something I definitely want to cover in the discussion is building sustainable revenue models for accessing and using Open Banking data. We'll also be looking at industry engagement and the key things we need to continue building the momentum behind Open Banking on a global scale. I'm looking forward to joining the panel with the other SHIFT members in Marbella.

SHIFT is an Open Finance community, hosted by Woodhurst, created to foster industry collaboration with a focus on data & categorisation, access to non-banking API’s and regulatory issues.

The panel will be hosted by Woohurst Co-founder, Ben Nadel.

The other panel members are:

  • Areiel Wolanow, CEO, Finexos
  • Glenn Smith, Founder & CEO, Roqqett
  • James Varga, Founder & CEO, DirectID
  • Samantha Seaton, CEO, Moneyhub
  • Will Billingsley, Co-founder & CMO, ApTap

To buy tickets and for more information visit the Open Banking World Congress website here.

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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.

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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.

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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.

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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.

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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.

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