Frictionless finance blog.
Stay up to date with the latest from the #fintech industry as The ID Co. and other leading fintech companies work to break down barriers and create frictionless finance solutions.
Welcome to the third edition of the Frictionless Finance Report. This week we cover Nationwide’s Open Banking for Good challenge, a potential bank offering from a telecoms provider, and the FCA’s “Dear CEO” letter.read more
There has been considerable media coverage this week of a letter sent to the heads of some of the UK’s biggest High Cost Short Term Credit (HCSTC) lenders after the FCA demanded that they investigate whether compensation was due to customers, and remediation be...read more
We sat down with our CEO, James Varga, to get an insight into the company, products, and industry he has had so much involvement with over the past 10 years. Why did he create The ID Co? What is the company here to do? and where are we going? Here's the result: ...read more
Welcome to the second edition of the Frictionless Finance Report. This week we cover a new digital banking proposition from RBS, centralising the PSD2 Directory in Europe, and take a closer look at the latest Open Banking news coming out of Singapore, Canada, Australia and New Zealand.read more
As we at The ID Co. have been exploring throughout the course of this month, affordability is now a central tenet for all lenders in their dealings with consumers. Thus far we have explored the rationale for the FCAs decision to demand lenders take affordability into...read more
The world of Open Banking never sits still and last week has been no exception. With a multitude of events taking place including Scottish International Week and “FinTech fortnight”, the team at The ID Co., were delighted to host and present at several. We have seen...read more
Welcome to the first edition of the Frictionless Finance Report. This week we cover the new Open Banking standards, give a thumbs-up to the UK FinTech scene and give a nod to the most recent news from The ID Co.read more
As Wonga twitches in the final throes of death, many will celebrate the downfall of the UK’s most famous pay-day lender. It is with only a little irony that its administration comes only weeks before the Financial Conduct Authority introduces new rules on the subject...read more
“A typical credit check is backward looking. It relies on the future looking much like the past. So, if your customer has not had much debt and a history of meeting their obligations in the past then the assumption is that they will continue to do so in the future......read more
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