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PSD2 Building Certainty : Payments Knowledge Forum 2015
The document discusses a powered service related to PSD2 that offers banks as a trusted source for identity verification, enhancing the process of customer authentication. It highlights the advantages of early adoption, including risk management, improved compliance, and real-time financial data access, while demonstrating the benefits seen by lenders in reducing losses and increasing applicant bases. The collaboration between Miicard and Deloitte aims to further leverage analytics for deeper insights into financial transaction data.
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PSD2 Building Certainty : Payments Knowledge Forum 2015
- 1. A powered service PSD2 BuildingCertainty into an Uncertain Proposition Payments Knowledge Forum 5-6 Ocotber 2015 Kevin Trapp
- 2. A powered service PSD2It is coming Regardless of the platform/s and process adopted.
- 3. A powered service BalancingRisk 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. A powered service Advantagesof early adoption Ability to implement today Future proofing of solutions/services with legacy supporting the new regime Critical mass opportunity Global reach
- 5. A powered service Whowe 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. A powered service OnlineChallenges Risk & Compliance Fraud Affordability Income Verification Collections & Recoveries
- 7. A powered service Bureauand 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. A powered service Whatif 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. A powered service WithBank 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. A powered service BankVerified 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
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- 12. A powered service EmbeddedUX 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
- 14. A powered service Streamlinemobile with direct API connection
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- 16. A powered service FullAPI & online dashboard Verified Income and employer identification Live Financial Data direct from the bank account Bespoke Data Points and customizable reports
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- 19. A powered service ProvenBusiness 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
- 20. A powered service miiCardand 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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- 24. A powered service Thanks! kevin.trapp@miiCard.com m.0786 884 7943 www.direct.id www.miiCard.com @miiCard