Founder and CEO of DirectID James Varga discusses the power of open banking to streamline the class action claimant bank verification process and how Shieldpay and DirectID have partnered to support the first use case for group litigation settlements.

Note: This is a rerelease of a recent webinar we hosted.  

James Varga is the CEO & founder of DirectID, a global credit & risk platform providing open banking data to decision-makers.

Since 2010, James has relentlessly pursued the opportunity to use open banking as the foundation for a streamlined credit & risk process that is fairer for all. James sees financial services as a global trust network – a network he has used to passionately address issues such as identity, credit & risk and financial inclusion.

In this Class Actions episode of Shieldcast, James and Pete discuss:  

• What is Open Banking, why was it introduced and what are the applications of the initiative?
• What have been the historical challenges with verifying account ownership?
• How can Open Banking be used to address key challenges in high volume transactions, such as compliance and fraud prevention? 
• What might be the next evolution of Open Banking and how can there be further developments to improve the digital payments process? 

Listen to this Class Actions edition of Shieldcast to find out more!

Learn more about DirectID: 

Website: direct.id

LinkedIn: DirectID

Twitter: @_directid

You can read about Shieldpay's partnership with DirectID here.
To rewatch the webinar recording, you can register for access to the video here. 

Find other episodes in the series on our website: Shieldcast library

Podcast brought to you by Shieldpay - learn more: shieldpay.com