thirdstream launches Identity Verification Platform
July 2 – thirdstream’s Identity Verification Platform integrates with existing banking and payment solutions using Open API standards. The platform is foundational to thirdstream’s digital account opening solutions for individuals and businesses. We bring together specific vendors and data sources to provide an ever-expanding multifactor remote verification solution.
thirdstream has built its identity verification platform to leverage established third party data sources, bringing them together in one place. thirdstream’s identity verification workflow provides a permuted index of fraud prevention, identity and income verification, credit checks, as well as instant account verification and new account funding.
The approach helps thirdstream leverage existing third-parties and data repositories, and once integrated, offer them for deployment to existing financial institution clients. It also enables rapidly adding emerging third-parties to complement the platform, including working with clients who identify a preferred third-parties not yet integrated.
For thirdstream, it also represents a strategic advantage when financial institutions agree to use already integrated solutions and data repositories to better meet their needs, helping clients deploy faster. With the integrations already completed, thirdstream becomes a trusted advisor to full service financial institutions, monolines and money services business, continually adding value to its identity verification platform, with thirdstream bringing supplier/partner relationships with each of the participating third-parties.
In most instances, clients deploy thirdstream’s Identity Verification Platform as part of adopting thirdstream’s digital account opening and loans application solutions. In others, they use the platform for their open API design. In those cases, we enable the available third-party solutions, and build out other needs identified as part of the process. This way clients avoid the expense of building out their own integrations.
A typical roll-out is now executed in under twelve weeks.