Lending and mortgage

The problem:

Personal lending — The borrower receives a list of information needed to complete the loan application. This extensive required documentation typically includes bank statements, utility bill, tax records, proof of employment, and proof of income. Gathering of documents is cumbersome and leaves the lending company with documents that are not authenticated which exposes them to risk.

Mortgage lending — The length of time it takes to take mortgage origination from pre-qualification to funding is sometimes close to two months. The big challenge is that clients expect a much faster turnaround times with improved user experience.

Small business lending —Business owners’ biggest complaint is that the process is too slow. Many online lenders offer approval within days if not hours. One of the biggest challenges for traditional lenders has been finding a way to match this speed. Even for online lenders, much more can be done with automation and reduce risk exposure.

The solution:

DIRO provides a real-time verification process, where customers and small business owners can verify bank statements, proof of address, tax records, proof of employment, proof of income, and verification of incorporation documents in real-time.

In addition to authenticated documents, DIRO also creates a machine-readable JSON file that can be fed into your decision engine for automation. DIRO helps to eliminate fake and stolen credentials, manual reviews, and OCR errors.

DIRO’s solution makes it possible for international financial institutions such as banks, lenders, payment providers, and crypto companies to have global coverage for regulatory compliance that otherwise was difficult or not possible.

Bank account verification
Authenticate account number and ownership in real-time
Bank statement verification
Directly from the source with traceroute and forensics
Payroll with depository data directly from payroll source
Bank transactions
Up to 24 months of transaction data
Insurance document
Verify insurance and coverage to reduce risk
Tax return
Directly from government sources with live data
Crypto account verification
Any crypto exchange, custodian, or wallet
Credit card and mortgage from multiple sources
Utility bill verification
Any electricity, gas, cable, water, or telecom globally
Incorporation verification
Verify good standing directly from government sources
Bank balance
Real-time balance checks with transactional data
Snapshot of users’ finances from multiple sources
Identity verification
Verify user identity via bank, utility, and government data.
Credit report
Directly from credit bureaus with rating and historic data
Brokerage and retirement account verification