Signup+ uses bank-sourced identity data through open banking to verify a user’s name, address and date of birth to speed up KYC-compliant onboarding. With just one quick deposit, new users can get started adding funds to their wealth management app, sending remittance payments or online gaming right away. There are manual forms to fill out, no document scanning and no waiting days for verification checks.
Signup+ works by pulling bank account data(sort code and account number) through open banking, and reverse matching it with identity data(name, address and DOB) from our data partner. This allows you to auto-populate signup forms, securely authenticate users and instantly make an initial deposit in real-time.
Example user flow:
Note that there are various ways the Signup+ user flow can work based on use case
- The user begins the account creation process by clicking on a button such as‘Get started’ on your website or app
- User chooses the‘Instant signup’ option to create their account
- User selects their bank
- User confirms the deposit amount and securely authenticates the payment using biometric authentication
- TrueLayer queries the paymentto retrieve user account number and sort code
- TrueLayer sends the account number and sort code to our data partner
- Our data partner reverse matches the bank-sourced data to their identity data
- TrueLayer returns the identity data to you for verification check(s) to be performed
- Identity data is surfaced on your platform and is used to auto-populate user account information
- User can get started using your website or app right away
What data do we pass to our data partners?
- Account number
- Sort code
What data do we get back from our data partners?
- Date of birth(DOB)
- Email address(coming late 2023)
- Phone number(coming late 2023)