Nivo surpasses 5 million messages milestone!
Over 5 million messages have now been sent and received the Nivo network, with projected growth expected to reach 10 million well before the end of the year with message volumes now exceeding half a million every month.
Key Nivo Network Usage Metrics
- 4.16m messages exchanged in 2020 – an increase of 352% from 2019
- 55,000 document requests completed in 2020 – an increase of 865% from 2019
- 5.2m messages exchanged via the Nivo network since launch
- A further 500,000 ‘NivoBot’ automated journeys launched – an increase of 1744% from 2020
Nivo recorded over 4.1 million messages exchanged between lenders, brokers, borrowers and lawyers in 2020, a 352% increase on the 0.9 million messages exchanged in 2019. The message count excludes a significant volume of ‘Nivobots’ sent and received on the network, which allows institutions to automate processes, product journeys and information gathering, including ID verification and document transfers. The application of automated ‘NivoBots’ increases lender and broker efficiency, enabling staff to spend time adding value during transactions rather than carrying out repetitive administrative tasks.
In addition to the significant increase in secure message traffic, Nivo saw a nearly ten-fold year on year increase in document transfers via its network. In 2019 Nivo users completed 5,700 document requests but in 2020 this had rocketed to over 55,000.
Nivo’s secure instant messaging network enables lenders, brokers, lawyers and borrowers to securely message each other through the course of a mortgage/loan case. It allows for instant sharing of key customer evidence and documents such as biometric ID results, E-signed agreements, payslips and bank statements, and makes all relevant information much easier to find in one easy to follow conversation trail. It overcomes the shortcomings of many companies’ existing processes such as lower levels of security in email communications, patchy audit trails, and fragmented pieces of information stored in different places – which together can cause confusion, delays and mistakes.
Michael Common, CEO and Co-Founder of Nivo, commented:
“Passing the 5 million message milestone is a significant achievement for Nivo and the huge increase in secure message traffic demonstrates how the adoption of FinTech has grown during the last 12 months.
“The restrictions to normal business operations and practices created by the pandemic and subsequent lockdowns have undoubtedly accelerated the rate of change as lenders and brokers had to find new ways of remaining operational when travel and meeting became difficult. However, what our clients have found is that even when the pandemic restrictions were lifted or relaxed, the benefits of using the Nivo Network for secure communication and document transfer remained just as evident. The application process is quicker, smoother, more secure and the efficiencies enable lenders and brokers to reassign manpower to areas which deliver greater benefit to the customer and the business.
“2021 will be another exciting year for Nivo. We have some new clients about to join us which will add a substantial number of new users to the Nivo Network and I’m certain we will be passing the 10m message milestone before the year is out.”