DirectID, a global credit risk platform, announced today it has partnered with MockBank, a Fintech firm providing sandboxing and testing functionality for open banking connections.
The partnership will give organizations using the DirectID platform the ability to effortlessly test bank connections, without the need to use live bank accounts or data.
When a customer of DirectID utilizes Mockbank, they can create test customers that have accounts, balances and full transaction data for each account, providing flexibility and depth while testing. Multiple bank accounts can be associated with the same customer, providing the ability to simulate real life user behaviour, spending habits and financial profiles. This removes the need to manually create transaction data or anonymize real transaction data.
The need for global organizations to test their offerings with freedom and scale has increased significantly. With Mockbank, customers using the DirectID platform can test specific use cases, assess the value in their current propositions, test new products and automate their test scenarios. The insights acquired from the use of Mockbank testing will give global organizations the ability to innovate faster and more freely, the companies said in a statement.
“Considering the global scale of our customer base, ranging from tier one banks to FTSE100 companies, the ability to test to the capacity that Mockbank allows presents a vast opportunity,” DirectID CEO James Varga said. “Now, customers of DirectID have the ability to utilise Mockbank’s Open Banking sandboxing functionality, providing a foundation to pioneer new products at a global scale. DirectID are delighted to be offer this service through our platform and we’re excited to see the innovation breakthrough to our global network of customers.”
DirectID is a global credit risk platform. By leveraging open finance and bank statement data, DirectID help lenders understand their customers throughout the credit risk lifecycle, from onboarding through to collections and recoveries.
Today, DirectID powers brands from banking, consumer and SME lending through to the gig economy and gambling. Its platform provides global access to bank data through more than connections across 65 countries, supporting access to over 1.5 billion people through one integration. The insights provide solutions to common lending questions such as affordability, income verification, expense categorization, cash flow, and emerging financial distress. They are all available directly or through the platform itself.
DirectID said it is authorized by the FCA to provide AISP (account information service provider) services within the UK market.
