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Smarter Risk Decisioning for Africa.
truID
An Open Finance API for South African businesses to connect bank accounts, retrieve transactions and statements, and generate income, affordability, and risk insights with consent.
truID Product Overview
Is truID Right for You?
Liners prepares and updates these highlights as product information changes. Editorial standardsBest For
- South African lenders
- Loan underwriting teams
What It Does Well
- Consent-based bank access
- Transaction and statement pull
Things to Check
- Supported banks list
- Consent flow experience
About truID
truID is a South African Open Finance platform for businesses that need consent-driven access to consumer and business banking data for onboarding, credit, and risk decisions.
Key capabilities include:
- Consent management and customer engagement: collects explicit customer consent and provides truID UI plus a customisable UI to support customer journeys across sales channels.
- Bank connectivity via a premium API: connects applications to supported bank accounts to retrieve transaction history, bank statements, and account information in real time.
- Data capture and standardisation: ingests data direct from bank, from ePDF statements, and from scanned statements, then standardises data across banks and categorises it into 40+ income and expense categories.
- Decisioning insights: provides income verification (98% accuracy stated on the website), automated affordability, and credit score v1, plus account checks such as ownership verification, balances, and account types (positioned as “the new AVS”), with support for fraud identification.
Available via Web and API.
Target users include credit providers, telecoms, retailers, insurers, credit bureaus, wealth advisors, banks, and fintechs operating in South Africa.
truID is notable in the South African market for its focus on consent, privacy, and control while supporting credit and affordability workflows that reference NCR compliance and Open Finance-based data access.
truID Facts
Liners compiles product facts from official websites, app stores, documentation, trusted public sources, and details shared by product teams during editorial review. We also consider crowdsourced updates when they include verifiable evidence, and refresh facts as information changes. How we source dataOperates In
Official Links
What it does
African alternative to
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truID Funding History
Liners compiles funding history from company announcements, investor records, and trusted reporting. We refresh it as new rounds are confirmed. How we source datatruID has raised $200K across 2 recorded funding events. The latest was Venture (Round not Specified) in Jun 2021.
- Total Raised:
- $200K
- Latest Round:
- Venture (Round not Specified)
truID Investors & Funding Rounds
Venture (Round not Specified)UndisclosedJun 2020
truID Founders & Leadership Team
Liners compiles leadership profiles from official company pages, professional profiles, and trusted public sources. We refresh them as teams change. How we source dataSign in to see all 3 team members
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Frequently Asked Questions About truID
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.
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.
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.
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.
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.
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