Growing specialist property finance brokers Finvest selects Nivo to help simplify and accelerate its loan application process

September 4, 2023
minutes read

Growing specialist property finance brokers Finvest have selected FinTech innovators Nivo to provide a quick and intuitive solution to accelerating its loan application process. The London based brokers provide a range of specialist funding solutions including bridging, residential, commercial and buy-to-let mortgages and development finance.

Finvest is targeting significant customer growth over the next 12 months and using Nivo will help to increase its efficiency by providing a streamlined end-to-end application process reducing the time Finvest staff spend on repetitive and time-consuming tasks that can have a considerable impact on case completion times and conversions. Tanvir Faisal, founder and director of Finvest, identified that the time taken to collect relevant information from customers, especially if sent by post, was creating delays and an unnecessary administrative burden. They estimated that around 70% of their processing time was spent on chasing documents and responses. Nivo’s automatic ‘chaser’ feature has been seen to reduce waiting times for customer documents by half.

Finvest chose Nivo instead of trying to create its own digital solution, which can be both expensive and time consuming. Nivo’s five-star reviewed app provides a quick, intuitive, and secure way of communicating with customers during a loan application enabling Finvest to manage their workflow on a single platform with staff using a desktop-based console which enables visibility of case progression and administration across the broker team ensuring a better experience for customers and staff. Additionally, Finvest customers are able to complete ID checks and e-signing on the Nivo app rather than having to see solicitors in person to verify their identity or use other third-party software solutions. Customers are also able to share documents such as bank statements and payslips with the broker simply and securely and smart message ‘bots’ built into the Nivo system can assist customers 24 hours a day.  The smart ‘Nivobots’ have been particularly effective in streamlining document collection, a task which can be repetitive and time consuming for Finvest staff and part of the application process where Finvest were seeing the greatest time delays. The Nivobots deliver a great customer experience whilst accelerating the application process further.

Tanvir Faisal, Founder and Director of Finvest, commented:

"We’re aiming to achieve considerable growth for Finvest and the technology we employ is key to us developing our business whist providing an excellent service to our customers. Nivo were able to provide the solution we wanted very quickly and avoiding the expense of developing and maintaining an in-house system.

Nivo’s app accelerates, simplifies and streamlines the customer journey and will substantially reduce the amount of time our team spends on repetitive and time-consuming administrative tasks, freeing up resource to add value with our service and drive conversions. The secure messenger system also enables us to communicate with customers far more securely than with email which is an important factor when dealing with sensitive documents and information. I’m excited for Finvest’s future and the positive impact Nivo will have on our business.”

Damon Williams, sales director at Nivo, commented:

“Forward thinking professionals like Tanvir recognise that digitalising parts of their business can help their staff to work more efficiently, provide a better experience to customers and increase profitability. Their commitment to adopting innovative technology is driving change across the industry. The Nivo app is a quick and cost-effective way for brokers to reduce application timescales, improve their communication security and provide a smoother and safer journey for their customers. Time is critical in the specialist finance sector with speed of application having a direct impact on conversions. We can have Nivo up and running with brokers’ systems in as little as one to two weeks with the benefits of the Nivo solution being experienced by customers and staff almost immediately.

“Borrowers are becoming increasingly accustomed to slick mobile experiences, and they will expect to deal with brokers and lenders using well designed and intuitive apps. Nivo is an impressive and cost-effective solution which delivers a great experience for brokers, their staff and their customers.”

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