Hastings Direct Loans automates loan decisioning and fraud catch with IDVerse identity infrastructure

Hasting 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.

Image: Hastings Direct Loans/IDVerse

Robert Welbourn Robert Welbourn is a contributing reporter for Claims Media. His background is in banking and finance; he has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.