James Varga on the future of claimant account verification
Founder and CEO of DirectID James Varga joins Shieldpay's Founder and CEO Pete Janes for a webinar chaired by James Stubbs, Financial Crime Systems Manager at Shieldpay. The discussion centres around 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.
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.
James is an active board member of Fintech Scotland, the Scottish Government Ministerial Trade Board, Trust in Digital Life (TDL), as well as a founding member of FDATA, Innovate Finance and Open Banking Excellence. Notably, James was part of the working group that lobbied the government for PSD2 – DirectID went on to build the UK's first AISP integration.
DirectID recently partnered with Shieldpay to streamline the class action claimant bank verification process. You can read more about our partnership here.
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?
Rewatch the webinar
This podcast episode was first released as a live webinar. You can also watch the recording of the session by registering for the link here.
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