Experian, a UK credit reference agency, is now offering Open Banking and PSD2 ( Payment Services Directive 2) services.
After securing FCA accreditation to permission to operate as an Account Information Services Provider (AISP). the business will now offer services to enable the exchange of bank account information between people and organisations
Experian will now help people and organisations benefit from the Open Banking initiative, launching a new suite of products to allow customers to share data in a secure and compliant way.
Tom Blacksell, B2B Managing Director at Experian, said: “This accreditation from the FCA underlines our commitment to support Open Banking. One bank has already signed up to use Experian’s Open Banking platform, and we’re running several proof of concepts with other clients so they can explore a range of innovative new services.”
In 2017, Experian acquired Runpath, a UK-based FinTech company, which improves its ability to aggregate Experian data with external sources. New services will be brought to market using Runpath as Open Banking APIs continue to be implemented in the coming months.
Earlier this month, Acuant integrated its new document verification solution into Experian’s fraud and identity platform, CrossCore.
Acuant’s AssureID utilises machine learning, as well as facial recognition technology to quickly and accurately identify individuals using photo-based government-issued IDs such as a driver’s license or a passport. Its document verification with Experian’s identity risk analytics and verification tools allows public sector institutions to comply with the June 2017 National Institute of Standards and Technology (NIST) Special Publication on Digital Identity Guidelines.
Experian also recently has formed a strategic financial partnership with Danal, a mobile phone identity and authentication platform. The two companies closed a preliminary strategic investment round, which will see Experian will combine elements of Danal’s Mobile Identity Platform within its CrossCore platform.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
