DirectID founder James Varga departs after 13 years
DirectID founder James Varga has announced his departure from the Scottish open banking platform after 13 years at the helm, effective December 2023.
James Varga departs DirectID (Image: LinkedIn)
Varga says he has made the “pivotal decision to move on” from the Edinburgh-based risk and decisioning platform he founded in 2010.
“This journey has been extraordinary, pioneering fintech and championing open banking before these became global movements,” he writes in a departing email, adding that the “invaluable experiences and lessons” he carries will “shape my future endeavours”.
According to the email, these future endeavours will include co-founding the X3 Global Summit, due to kick off in May, and collaborations with Tech Export Support Group, Shift, Fintech Scotland, and others.
These projects, he says, share the theme of realising “the transformative power of data”, unified by the application of AI amid an active shift in “how we perceive and measure value”.
DirectID operates a platform that enables lenders to utilise open banking data throughout the credit risk lifecycle with income verification and financial health features. It last raised €9 million in minority stake funding from Ingka Investments in February.
“DirectID has been more than a company; it’s been a significant part of my life, where ideas turned into impactful realities,” Varga’s email adds.
He had served as the company’s CEO since its inception until July last year, when he passed the torch to former L&C Mortgages exec Chris Mills.
