Compliance

With an amendment to the Direct Debit Scheme mandating ID verification, the cost and time taken to fulfil the new requirements have been an issue for many originators. DD-iD™ has in effect rendered these issues obsolete and offers every Originator a low-cost, fast and efficient method of checking.

DD-iD™ therefore raises both Scheme compliance as well as meeting all key regulatory requirements such as:

• FSA regulations
• Joint Money Laundering Steering Group (JMLSG) guidelines.
• BACS Payment Schemes Direct Debit Scheme regulations
• BASEL II risk management legislation