- U.K.-based digital identity provider OneID has forged a partnership with credit reference agency AperiData.
- The collaboration combines OneID’s customer authentication capabilities with AperiData’s financial and risk insights to enhance decision-making for lenders.
- Paula Sussex joined OneID as CEO in April of last year.
The new partnership between digital identity provider OneID and credit reference agency AperiData will empower lenders and other financial institutions to make instant credit decisions that are responsible and ethical.
“A partnership with AperiData is a natural fit for OneID,” company Chief Product Officer Stuart Kempster said. “Bringing the power of bank-verified digital identity together with AI-powered real time credit analysis gives our joint customers a better way to support their customers with their credit decision-making.”
Individuals use OneID by selecting the identity verification option during the online onboarding or signup process. With the individual’s consent, OneID contacts the individual’s bank and verifies their credentials. Upon successful verification, OneID securely confirms the individual’s identity to the online provider within seconds.
Both OneID and AperiData share the goal of blending identity verification with risk insights available via open banking in order to offer better and broader financial opportunities for customers. Notably, the combination of OneID’s customer authentication capabilities and AperiData’s financial and risk insights offers benefits beyond income verification. The partnership will also support use cases ranging from automated direct debit set-up and reinstatement to enhanced employee screening processes.
A U.K.-based FCA authorized credit agency and open banking provider, AperiData leverages insights from financial data and the power of open banking to enhance credit scoring and decision-making. Founded in 2020, the company has partnered with many of the largest banks in the U.K. AperiData most recently announced collaborations and partnerships with Salford Credit Union, financial inclusion software platform Inbest, and payment and retail services company PayPoint. Stephen Ashworth is CEO.
OneID covers 50 million adults in the U.K., is connected with 29 banks, and leverages 37 data sources to provide identity verification in less than 12 seconds. Founded in 2018, OneID raised $1.27 million (£1 million) in funding last fall in a round led by ACF Investors. Paula Sussex, who joined the company as CEO in April 2023, called the investment “a vote of confidence in (its) efforts to make digital identification accessible and available to more U.K. citizens.”