Scottish FinTech DirectID has seen its revenue double throughout lockdown.
In Brief:
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DirectID offers realtime credit checks, analysing live data such as bank statements and cash flow.
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It is connected to about 13,000 banks.
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CEO James Varga says revenues have doubled in the past four months, according to the Herald.
What does this mean?
With increasing economic uncertainty, banks need to be able to make decisions based on live information rather than years’ worth of history which might not reflect a customer’s current situation. Lenders can use DirectID to make accurate, personalised decisions.
