Question 1

What is truID and how does it work?

Accepted Answer

truID is a South African Open Finance platform that, with a customer’s consent, connects to their bank accounts to retrieve transaction history, statements, and account information, then standardises and analyses this data. Businesses integrate truID via web or API into their onboarding and credit journeys to verify income, assess affordability and risk, check account ownership, and support fraud detection.

Question 2

How much does truID cost?

Accepted Answer

truID is a paid service with tiered packages (Basic, Lets go digital, Digital superstar, Enterprise), but specific pricing amounts are not publicly listed. You need to contact truID directly to discuss pricing for your use case.

Question 3

What countries does truID operate in?

Accepted Answer

truID primarily operates in South Africa, supporting data access from the country’s major banks. It has stated ambitions to expand into other developing markets, but specific additional countries are not identified.

Question 4

How do I sign up for truID?

Accepted Answer

To sign up for truID, you typically engage with them as a business to integrate their web and API services into your customer journeys. You can start this process by contacting truID directly to discuss your requirements and onboarding.

Question 5

Does truID have a mobile app?

Accepted Answer

No dedicated mobile app for Android or iOS is mentioned, and truID is described as being available via web and API. You interact with truID by integrating its services into your own applications rather than through a standalone mobile app.

Question 6

Who is truID best suited for?

Accepted Answer

truID is best suited for businesses that need consent-based access to customer banking data, including credit providers, telecoms, retailers, insurers, credit bureaus, wealth advisors, banks, and fintechs. These organisations use truID to streamline onboarding, credit decisioning, risk assessment, and compliance workflows.

Question 7

How do I contact truID support?

Accepted Answer

You can contact truID support by emailing mydata@truID.co.za. For sharing banking information or statements, you should follow instructions from your service provider and not send bank statements directly to this email address.

Question 8

Does truID have a plan for teams or businesses?

Accepted Answer

Yes, truID is designed for teams and businesses, with tiered packages and features specifically targeting organisational use. It serves a wide range of business customers that integrate the platform into their own financial and onboarding processes.

Question 9

Does truID offer an API or integrations?

Accepted Answer

Yes, truID offers a premium Open Finance API that connects applications to supported bank accounts and returns standardised, categorised financial data and decisioning insights. This API can be integrated into your systems to access transactions, statements, account information, and analytics such as income verification and affordability assessments.

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