16 April 2021

DirectID Sign AX As A Customer

Written By DirectID in Open Banking

DirectID Sign AX As A Customer

Edinburgh, Scotland – DirectID has announced that it has signed AX as a customer.

AX will be utilising DirectID to illustrate customer’s affordability following car accidents and car hire. Currently, credit hire organisations have a challenge in getting bank statements from customers to prove affordability. DirectID can provide this through Open Banking.

AX offer a range of services including; accident management, brokerage, credit solutions, replacement vehicles and repairs.

DirectID’s solution will connect an individual’s bank account through our Open Banking APIs and present the transactions in a way that will confirm if the individual could afford to pay the costs of a claim upfront.

DirectID has connections with over 13,000 banks across 65 countries across the world. DirectID is currently utilised by over thirty major companies globally, including Best Egg, RBS, Standard Life Aberdeen and Xe. DirectID is also prevalent within the credit hire sector with around 10 companies currently using DirectID’s services.

Speaking on the agreement, DirectID CEO, James Varga, commented:

We’re delighted to be working with AX. The CHO market is ripe for the use of Open Banking to provide evidence of income and affordability, and we’re very happy to be providing this to Accident Exchange.

Craig Budsworth, Legal Director for Credit Hire at AX, said:

In credit hire companies, we frequently need to be able to verify a customer’s affordability, and it’s great that DirectID will be able to provide this for us.  The customer journey is much simpler than having to download individual statements and the graph presentation makes a compensator’s job easier to identify those customers who are impecunious.

Find out more information on Accident Exchange at https://www.ax-uk.com/

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in Open Banking

Eyal Sivan aka Mr. Open Banking joins Ozone API as General Manager for North America

06 February 2024

Ozone API, a leading technology company specialising in open banking ...

Ozone API and CLOWD9 Announce Strategic Partnership in Open Banking

30 January 2024

 Ozone API and CLOWD9 are delighted to announce that they ...

10x Banking and Ozone API join forces

14 November 2023

10x Banking (10x), the transformational cloud-native SaaS core banking platform, ...

White Papers Open Banking

Weavr: Why embedded finance should be a strategic priority for the future of work sector

07 July 2022

Download this report to learn more about how embedded finance will change the way we work in the fut...

White Papers Open Banking

Whitepaper: How are companies (REALLY) embedding financial services?

07 July 2022

Embedded finance remains a hot topic, so how do you get past the hype and predictions to find out ho...

White Papers Open Banking

Open Banking and The Rise of Banking-as-a-Service

07 July 2022

To succeed in the world of Open Banking, incumbent banks running on legacy systems will need to digi...

White Papers Open Banking

Stripe on: The rise of embedded finance

07 July 2022

Embedded finance is a growing trend across payments, banking, lending, wealth, insurance and payroll...

There are no Events in this category