Nivo ID Passporting: ‘Shared Central Identity Technology’ Launches to Bridging
15th Apr 2020
After recent success in delivering smoother and quicker customer journeys within second charge lending, Nivo ID Passporting will be made available to Bridging lenders, brokers, and qualified finance solicitors, allowing them to work from shared central identity information.
Using the technology, these partners will be able to digitally share a central copy of a customer’s personal information and identity data, making deal times faster, safer and easier, especially in the face of the social challenges presented by COVID-19. The data is ‘owned’ by the customer, who has complete control over providing consent to allow for any particular service provider on the Nivo network to view it.
While maintaining social distancing, providers without a digital solution to verify identities will face barriers onboarding customers and sending sensitive documents given the physical challenges of using couriers and post.
At the same time, there has been a 400% increase in fraud since March as criminals seek to exploit increased usage of personal email for the sharing of sensitive information. Nivo ID Passporting is a convenient solution that allows all parties to ensure they can fulfill KYC requirements, share sensitive data securely and work remotely, all while shaving days off their deal cycle.
Optimum Credit and Freedom Finance were the first to go live with Nivo ID Passporting in the second charge market, with the results proving a significant reduction in customer effort and the time it takes to deliver a loan.
Polly Taylor-Pullen, Business Development at Nivo states, “Our service was designed to be a better alternative to email and post. The current situation increases the urgency of the problem and we’ve seen how many are using it as an opportunity to innovate. By launching this feature, we’re excited to be helping leading players in the Bridging industry to take things one step further.”
Read more about the launch at Bridging and Commercial.
Nivo removes the need for paper and post by providing organisations with flexible, mobile-first messaging, protected with bank standard security. Within it, companies can deploy a range of FinTech features like biometric identity verification, e-signing, open banking, and automation, and can further use shared identity passporting to more efficiently work together to deliver a deal. Current Bridging clients include United Trust Bank, Oblix Capital, and Bridging Finance Solution.
Demo Nivo and you can be signed up within the day.