DirectID streamlines onboarding process for banks with Trust Stamp biometrics

Trust Stamp is teaming up with DirectID to create a better onboarding solution for financial institutions. The platform will combine Trust Stamp’s face and document recognition technology with data and risk analytic tech from DirectID.

To that end, Trust Stamp’s technology will allow banks to verify the authenticity of identity documents during the onboarding process, and make sure that those documents belong to the person opening the account. DirectID, meanwhile, will allow banks to make sense of that person’s bank statements and other financial information to manage risk and make more informed decisions with regards to their customers.

The two companies are hoping that the joint solution will streamline the onboarding process. They are also hoping that it will increase financial inclusion, insofar as it will give banks a higher level of identity assurance, which will in turn make it easier for banks to provide services to people with poor credit histories who might have been denied in the past.

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Source: DirectID Streamlines Onboarding Process for Banks with Trust Stamp Biometrics