Ultimate Finance invests in facial recognition and secure communication technology
13th Jan 2020
The following article first appeared on BDaily here.
Ultimate Finance has partnered with Nivo to invest in facial recognition technology to make it quicker and easier to apply for funding. Nivo gives Ultimate Finance access to a range of leading technology services so they can streamline customer engagement through instant messaging. Features such as biometric ID verification and file sharing remove the traditional reliance on paper, email, and phone, so processing times are reduced from days to minutes.
An applicant’s ID is verified using facial recognition to compare a photograph taken through the camera smartphone to a scanned passport, ID card or driving license. Nivo is simple and free to use for all applicants and uses secure instant messaging and AI to streamline the process and eliminate delays and human error associated with physical documents.
Josh Levy, CEO of Ultimate Finance, says, “Business needs are constantly evolving and so we continually invest in our processes to ensure clients have the seamless experience they expect. Our partnership with Nivo will ensure just that. Biometric ID verification technology will streamline the verification process for new clients, saving them valuable time.
“We take pride in being a responsible lender and place a huge importance on our customers’ data security and reducing the risk of fraud. Traditional verification processes are far from infallible so the platform’s biometric identification system and secure document sharing capabilities address this challenge. Our investment supports our vision of using technology powered by people to provide a service that is as quick and easy as possible for our clients.
Matthew Elliott at Nivo, says, “It’s great to be partnering with Ultimate Finance to lead the way in this space. They see technology as a means to an end, looking beyond features, and keeping the focus on making things easier for customers and brokers. We’re excited about what 2020 holds as the partnership develops.” Ultimate Finance is also exploring further functionality with Nivo with the aim of introducing additional digital solutions to its onboarding journey in 2020 and beyond.