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PSD2 Building Certainty : Payments Knowledge Forum 2015

The Payments Knowledge Forum (PKF) has been set up by payments system users to facilitate the exchange of mutually useful, practical and relevant information.

miiCard's Kevin Trapp joined the 2 day conference to discuss PSD2 developments and the role of DirectID in creating trust in online payments.

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PSD2 Building Certainty : Payments Knowledge Forum 2015

  1. 1. A powered service PSD2 Building Certainty into an Uncertain Proposition Payments Knowledge Forum 5-6 Ocotber 2015 Kevin Trapp
  2. 2. A powered service PSD2 It is coming Regardless of the platform/s and process adopted.
  3. 3. A powered service 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.
  4. 4. A powered service Advantages of early adoption Ability to implement today Future proofing of solutions/services with legacy supporting the new regime Critical mass opportunity Global reach
  5. 5. A powered service Who we are Global Company Americas, Europe, Asia and Australasia Experienced Leadership Senior corporate global fin-tech Best of Breed Proven 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 in Cambodia, 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
  6. 6. A powered service Online Challenges Risk & Compliance Fraud Affordability Income Verification Collections & Recoveries
  7. 7. A powered service 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.
  8. 8. A powered service 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.
  9. 9. A powered service 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.
  10. 10. A powered service Bank Verified Identity is…. Faster Verified in the time it takes to login to a bank Easier Identity, KYC & AML in minutes Stronger Built on the trust we have with our banks
  11. 11. A powered service Faster
  12. 12. A powered service Embedded UX with custom look & feel Bank Verified Identity from over 4,500 global banks Bureau Data Checks and other data sources Multiple Services with configured workflow
  13. 13. A powered service Streamline mobile with direct API connection
  14. 14. A powered service Easier
  15. 15. A powered service Full API & online dashboard Verified Income and employer identification Live Financial Data direct from the bank account Bespoke Data Points and customizable reports
  16. 16. A powered service Stronger
  17. 17. A powered service 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
  18. 18. A powered service 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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  22. 22. A powered service Thanks! m. 0786 884 7943 @miiCard