Open banking pioneer The ID CO. selected for UK fintech trade mission to New York

 

Following a highly competitive recruitment process fintech specialist The ID Co., an expert and pioneer of open banking, has been chosen by the UK’s Department for International Trade (DIT) to join its second annual UK Trade Mission to Empire FinTech Week in New York City as global interest in the use of open APIs surges.

The mission, which took place from 16th to 20th April, gave The ID Co. an opportunity to showcase their expertise in financial technology to the US market, engage with US regulators, and gain valuable insight into overcoming barriers to doing business overseas.

Established in Edinburgh in 2010, The ID Co.’s platform DirectID uses live financial data from customers’ online bank accounts to inform third-parties about spending behaviour, allowing them to make decisions based on real time information, rather than the traditional credit score

Recruitment for the UK Trade Mission ran across the whole of the UK in February 2018, focusing on advanced British FinTechs actively entering the US market. A total of 134 applications were received from market ready British FinTech companies.