Financial Services and Fintech

Private banking trade use case

A private banker (consent requestor) sends a trade request to a customer (consent provider) to approve so it can be executed by the bank (credential provider).
  • The banker asks the customer, “Can you review this trade request and confirm you would like to proceed?”
  • Customer receives the request and gives consent via Priviti.
  • Priviti matches consent securely. It triggers the execution of the trade by the bank.

B2B cross-border payments use case

A corporation (consent requestor) asks a client (consent provider) to make a cross-border ACH payment via the client’s bank (credential provider) for services.
  • The corporation asks, “Can you make a payment for our services?”
  • Customer receives the request and gives consent via Priviti.
  • Priviti matches the transaction, parties and consent, and the client’s bank authorises the wire transfer and executes it in ACH/Swift using the Priviti transaction ID as a reference.
  • The corporation identifies the wire transfer using the transaction ID and data stored in the Priviti token.

SME underwriting use case

The SME loans division of a bank (consent requestor) requests the transaction history and account information of an SME (consent provider) held by the bank (credential provider) to quote for a loan and to share anonymised account information with a range of underwriters.
  • SME loans division of a bank asks the customer, “Do you consent to sharing your transaction history and account information with us and your anonymised data with our underwriters so we can quote for a loan?”
  • Customer receives the request via mobile banking app and gives consent via Priviti.
  • Priviti matches consent securely. It shares the data with the SME loans division, which shares anonymised data with underwriters.