- Hastings Direct Loans partners with IDVerse to automate customer journey and scale ambitious growth plans
- IDVerse’s identity tools enhance accuracy and reliability of Hastings Direct Loans’ identity verification processes
- 4x ROI on loan fraud caught within one month of integrating IDVerse’s fully automated identity solutions
London, UK – 2 October 2024 Hastings Direct Loans (part of the Hastings Group) has selected IDVerse to continue its mission of automating their customer journey to scale into future ambitions.
By adding IDVerse’s identity tools Hastings Direct Loans, a technology and data fintech company, continues the theme of innovation and constant improvement needed to become a category leader. The addition of IDVerse’s automated reinforcement learning enhances the accuracy and reliability of the identity verification processes whilst adapting to ever evolving fraud vectors.
Sam Kerr, Head of Digital, IT and Change, Hastings Direct Loans commented: “Hastings is a technology and data fintech company with an intense focus on automating outcomes. IDVerse’s technology approach to identity infrastructure is a perfect match. Onboarding IDVerse’s fully automated identity tools has been as fast as their technology – we integrated and tested inside a month and within a month of launch we’ve already seen over a 4x ROI with the loan fraud we’ve caught.”
Kerr, continued: “Hastings prides itself on giving our customers a fair, easy to understand loan process by implementing innovative technology solutions into our stack, which also enable our ambitious growth plans. The API approach from IDVerse has allowed us to ingest more data to further insights in our decision process leading to better outcomes for our customers and business.”
Adam Desmond, Commercial Director, IDVerse commented: “Sam and the entire team at Hastings have been amazing to work with. They understand the need for fintechs to use the latest technology and data to drive improved outcomes in customer experience – which led to better business outcomes. Being able to exchange information at speed during the integration has allowed us to show the true value of the tech near instant time.”
Desmond continues: “IDVerse is very proud of the partnership we have developed with Hastings and have already begun to introduce more of our identity tools to further help them automate and scale into becoming a category leader in the unsecured lending space. The team is very much looking forward to helping them reach their ambitious growth plans.”
Supporting growth through automation is of paramount importance to both Hastings and IDVerse with identity infrastructures being built to yield as many data points as possible to layer onto – without compromising on fraud catch and customer experience.
ENDS
Notes to Editors
Media contacts:
IDVerse – Matt Ingman, moc.e1728009031srevd1728009031i@aid1728009031em1728009031
Media kit – Download
About Hastings Direct Loans
Hastings Direct started offering personal loans to consumers just over 3 year ago and has already lent almost £500m to over 50k customers in that time. We process over £30bn worth of loan quotes per month and have coverage across ~95% of the UK price comparison market.
We pride ourselves on designing and implementing, straightforward, easy to use and understand, digitally focussed products and services for our customers.
We are passionate about our mission ‘to build the best tech-enabled lender of our generation’ and have ambitious plans to continue to grow the business.
For more information, visit https://www.hastingsgroup.uk/
About IDVerse
IDVerse provides the tools and infrastructure that empower the identity verification industry, enabling businesses to verify anyone’s identity within seconds using only their face and smartphone—across over 220 countries and places, and with nearly any issued ID document.
IDVerse is fighting AI bias by developing face recognition systems that prioritize inclusivity and fairness. Through our Zero Bias AI™ tested technology, we harness the power of regenerative AI to mitigate discrimination based on race, age, and gender. This advanced technology not only fights fraud and deepfakes but also significantly reduces associated risks.
IDVerse is trusted by startups, governments, and global enterprises, including HSBC, Uber, Experian, Equifax, and LexisNexis. Founded in Australia in 2018, IDVerse is a Series B venture-backed company with offices in Sydney, London and Silicon Valley.
For more information, visit https://idverse.com/
