Bank Benefits

As a sponsoring Bank within the Direct Debit Scheme, a key new development in improving Originator compliance has been the amendment, made by BPSL that mandates ID checks for Paperless Originators. Many Originators remain unaware of this change, or find the cost and time it takes to undertake manual checks prohibitive.

This is why we have developed DD-iD® ; now there is a low cost, fully auditable instant online service to check a customer’s ID and deliver a full “Know-your-customer” service to any Originator.

For every sponsoring Bank DD-iD® delivers some unique benefits:

• Enables, fast, low-cost, multi-level ID checks
• Offers a perfect, easy-to-follow audit trail that ensures Originators check IDs
• Eliminates the need for costly investigations
• Reduces the risk of identity theft and fraud
• Ensures compliance with FSA and other regulatory frameworks, especially for regulated, high-risk companies
• Ensures Scheme compliance and best practice
• Protects Banks, businesses and consumers from exposure and risk of ID theft and fraud
• Reduces the time it takes to check individual IDs
• Reduces the cost of ID checks to very low levels, highly beneficial to Paperless Originators
• Eliminates manual ID checks

Many of the benefits of the system are available on this Micro site so please take some time to look through and get to know the product.

Direct Debit Limited, however, has a full time Bank Relations Manager who can give you all the details and product information you will need to successfully promote DD-iD® to your corporate customers.

Contact, Barry Plumley on 0208 408 7888 or email: banks@directdebit.com.

We strongly recommend you sign-up to our Bank personnel website, designed to inform and motivate all interested Bank personnel on the wide-ranging, unique products and services we offer. To sign up click here.