PSD2 Building Certainty : Payments Knowledge Forum 2015
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Transcript of PSD2 Building Certainty : Payments Knowledge Forum 2015
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PSD2 Building Certainty into an Uncertain
PropositionPayments Knowledge Forum
5-6 Ocotber 2015
Kevin Trapp
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PSD2 It is coming
Regardless of the platform/s and process adopted.
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Balancing Risk
TPP already operate widely and are supported by major consultancies.
In tune with the whole thrust of European and UK Gov. legislation and policy.
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Advantages of early adoption
Ability to implement todayFuture proofing of solutions/services with legacy supporting the new regimeCritical mass opportunity Global reach
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Who we areGlobal CompanyAmericas, Europe, Asia and Australasia
Experienced LeadershipSenior corporate global fin-tech
Best of BreedProven in lending and payments
Extensive coverage in Australia, Canada, France, Hong Kong, India, Ireland, Israel, Mexico, New Zealand, Singapore, South Africa, Spain, Thailand, United Arab Emirates, United Kingdom and the United States.
Additional coverage available inCambodia, China, Colombia, Cook islands, Fiji, Guam, Japan, Malaysia, Papua New Guinea, Philippines, Samoa, Solomon Islands, Tonga, Vanuatu, Vietnam.
Over 65 million consumers have used their bank login to do more online
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Online Challenges
Risk & ComplianceFraudAffordabilityIncome VerificationCollections & Recoveries
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Bureau and CRA checks aren’t enough because the data is widely shared.
Document scans just check the image and don’t prove the person’s identity.
None of these solve your problem.
A new source of trust is needed.
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What if you let your customers use their bank as a source of trust?
Banks know people better than anyone else – and have already done the checks.
They have the evidence and traceability that connects the digital identity to a real world person.
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With Bank Verified Identities, customers simply connect to their online bank account using their bank login.
This secure connection uses something only they know to prove it is their account.
Simply put, it’s the convenience of a social login with the trust of a bank.
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Bank Verified Identity is….
FasterVerified in the time it takes to login to a bank
EasierIdentity, KYC & AML in minutes
StrongerBuilt on the trust we have with our banks
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Faster
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Embedded UX with custom look & feel
Bank Verified Identityfrom over 4,500 global banks
Bureau Data Checksand other data sources
Multiple Serviceswith configured workflow
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Streamline mobile with direct API connection
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Easier
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Full API & online dashboard
Verified Incomeand employer identification
Live Financial Datadirect from the bank account
Bespoke Data Pointsand customizable reports
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Stronger
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Proven Business Benefits
Real-time Financial Transaction Data has transformed lending
Reduce loss by up to 300 basis points
Increase applicants base up to 5%
“We experienced a reduction in loss rates from 11.0% to 7.00% based upon the addition of structured bank account attributes into the risk models and preliminary decision rules.” Chief Risk Officer, Lender with over £250 million in loans
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miiCard and Deloitte are working together to consider
ways in which Deloitte Analytics can help provide
additional insight on the rich financial transaction data that is accessed through
DirectID.
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