Known for concentrating on the UK market for van, vehicle, house, and cycle insurance, Hastings Direct entered the personal loan business three years ago and has already financed over 50,000 clients close to £500 million. The business claims to process loan quotes worth over £30 billion per month.

The completely automated identification tools from IDVerse were integrated and tested by Hastings Direct Loans "inside a month," according to Sam Kerr, head of digital, IT, and transformation. He also states that "within a month of launch we've already seen over a 4x ROI with the loan fraud we've caught."

"We've been able to consume additional data to develop insights in our decision process, leading to improved results for our clients and business,” says Kerr, citing IDVerse's API approach.

IDVerse, which was established in Australia in 2018, offers identity verification services to international corporations such as Experian, HSBC, and Uber, as well as governments. It says that their technology allows companies in over 220 countries to authenticate individuals’ identities “within seconds” using just a smartphone and face recognition.