Overview
If you can solve identity in payments, the rest is just accounting.
Overview
Straddle recognizes the critical—yet complex—role that identity and fraud detection play in the payment process. Our platform is built on the principles of identity-first to enable open-banking payments with similar speed, security, and convenience to card payments at a fraction of the cost.
We’ve partnered with best-in-class data-sharing consortiums and identity providers under a deeply embedded OEM agreement to natively extend a graph-defined, machine-learning model trained with hundreds of predictors to detect the likelihood of identity fraud and risk.
All customer profiles are automatically screened and scored with Straddle ID at the time of creation.
Features
Synthetic identity fraud occurs when genuine information is merged with fabricated information to create a new synthetic identity. Businesses in the US are projected to lose $5.8B in 2024 to synthetic identity fraud.
People make payments
The first step to process a Straddle payment is to create a customer to represent an end-user and their information.
A customer resource can represent either a person or a business. The customer resource helps manage payments, linked wallets, transaction history, identity verification, and payouts between your application and your users.
Creating a Customer
To create a customer and initiate identity verification, use the Create a Customer API endpoint:
Reviewing Identity Verification Results
After creating a customer, you can review the identity validation results to assess risk and compliance. Use the Review a Customer’s Identity Validation Results endpoint:
GET /v1/customers/{id}/review
This endpoint provides:
Integration with the Core Data Model
Identity verification is seamlessly integrated into the core customer data model. When you create or update a customer, identity verification processes are automatically triggered, ensuring real-time risk assessment and compliance checks.
By incorporating identity verification into the customer lifecycle, Straddle enables you to:
Prevent Fraud
Detect fraudulent identities before processing payments.
Ensure Compliance
Meet KYC and AML regulatory requirements effortlessly.
Streamline Onboarding
Provide a smooth experience for legitimate users while mitigating risk.
For detailed information on customer management and identity verification, refer to the Customers API Reference.