Company Research Report: Atto

Company Overview

• Name: Atto (formerly DirectID)

• Mission of the Company: Atto aims to create a more predictable future for lenders by providing real-time insights and predictive models to enhance credit risk decisioning processes.

• Founded: The ID Co. Limited, trading as Atto, was incorporated on 27 May 2011.

• Founder: No specific information provided on the founder.

• Key People:

• Chris Mills – Chief Executive Officer

• Clare McCaffery – Chief Commercial Officer

• Robert Knight – Chief Product & Technical Officer

• Mary Thornbury – Head of Finance

• Euan Goodman – Head of Customer Success

• Jawad Ahmed – Head of Engineering

• Caterina Ponsicchi – Head of Marketing

• Gillian Tweedie – Technical Support Manager

• Headquarters: 83 Princes Street, Edinburgh, Scotland, EH2 2ER

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Atto is recognized as a pioneer in open banking and the provider of real-time financial insights, facilitating improved credit risk decisioning for lenders worldwide.

Products

1. Atto Insights:

• Description: Provides real-time insights into customers' financial habits, including spending, saving, and earning.

• Key Features:

• Affordability assessments.

• Income verification from multiple sources.

• Categorisation & classification of transaction data.

• Detection of emerging financial distress.

• Insights into SME financial health.

2. Connect:

• Description: A seamless user-interface for capturing consent and sharing transaction data through bank connections.

• Key Features:

• 30-second user data-sharing journey.

• Supports over 13,000 bank connections.

• Real-time data access up to 12 months.

3. Data APIs:

• Description: APIs that enable access to normalised and enriched bank statement data.

• Key Features:

• Secure and compliant with FCA standards.

• Supports integration with over 13,000 banks.

• Provides enriched data with high accuracy.

4. Dashboard:

• Description: An interface offering real-time financial data augmented with credit and risk insights.

• Key Features:

• View categorised transactions and insights.

• Access downloadable, normalised financial statements.

• Manage consents and trigger data refreshes.

Recent Developments

• Recent Developments:

• Rebranding from DirectID to Atto, emphasizing a deeper commitment to credit scoring and predictive modeling.

• Partnership with GDS Link to enhance instant, data-driven credit decisions globally.

• Ingka Investments made a EUR 9 million investment in Atto.

• New Products/Features:

• Target Group's award-winning Mortgage Hub now powered by Atto’s open banking solutions for mortgage origination efficiency.

• Introduction of new visual identity and enhanced brand messaging to reflect innovation in open banking.

• New Partnerships:

• Collaboration with LendInvest to streamline credit decisions in the property finance market.

• Partnership with GDS Link to leverage Atto’s data for accurate credit risk assessments.

• Joint efforts with Shieldpay for integrated identity verification and payments.

• Partnership with Smoothpay to provide stable income support for freelancers.

Conclusion

The information provided presents Atto as a dynamic and innovative fintech company, specializing in real-time banking data and predictive models to support lenders with enhanced credit risk decisioning. With its comprehensive suite of products, strategic partnerships, and rebranding efforts, Atto is poised at the forefront of the financial services landscape, driving forward transparency, efficiency, and inclusivity in lending.