Our users share their financial details with Raytio including identity information, bank transactions, business accounting records, employment and other income, expenses, credit facilities, investments and other assets, utility, telecom and insurance details. That’s all of the information you need to segment, target, quote and onboard customers.
We verify the information our users share with trusted, authoritative sources. This includes government passport, driver license, police, companies and other checks, banks for source transaction data, accounting systems such as Xero, asset portfolio verification, and utility, telecom and insurance contracts and invoices. An audit trail of all checks is available.
Users can create one or many profiles for themselves, their household or family, and their business. The user chooses the types of information (e.g. expenses, driver licence) and specific fields (e.g. date of birth) contained within that profile. The user can then choose to securely share their profile with third parties. No personally identifiable information (PII) is ever shared without the explicit permission of the person or organization’s authorized representatives.
Encrypted and secure
Personally identifiable information is encrypted client-side and digitally signed. Raytio never stores any unencrypted PII. No-one will be able to view a user’s PII without the user first decrypting it using their private key. Each Raytio profile is also digitally signed to guarantee that it has not been changed without the user’s knowledge. PII includes names, date and place of birth, driver license and bank account numbers, physical and email addresses, phone numbers, IP addresses etc.
Subscribe to change updates
Third parties that have been given access to a user’s profile may subscribe to change notifications. Any data element that changes within that profile will be notified to the subscriber via the chosen method. Notification methods include email and webhooks. Note: the details of the change will never be passed in an insecure way.
Access anonymized data
All private profiles have an anonymized, public, searchable equivalent. Information available includes age range, country and region, and financial ratios. Badges are also visible indicating the types of information that have been verified such as driver license, citizenship, motor vehicle ownership, real estate value, bank balances etc.
Scalable and reliable
Built on AWS using a microservice architecture ProfileCloud is built to handle the largest use-cases.
A better customer experience
Customers hate filling in forms. And with today’s KYC and AML requirements every interaction with financial institutions is painful because customers have to enter the same information again and again. Gain a competitive advantage by massively reducing the friction around quoting and onboarding customers.
We’ve done all of the identity verification and document checking so you don’t have to. A Raytio profile represents a pre-approved customer for you with all of the data you need provided electronically.
Avoid typos. Raytio profiles are verified and passed to your computer systems in a standardized, documented way avoiding the need for manual processing or robotic process automation. You also get notified of changes proactively to maintain the accuracy of your customer records.
More cost effective
Identity checking, document verification and credit checking are done repeatedly for the same person or organization across the financial services, legal, accounting, and utility industries. By massively reducing these inefficiencies we provide a superior service for less.
Use the tools you’re familiar with
We use industry-standard architecture including REST APIs, OAuth2, PKI and JSON schema so you can use the tools you love.