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UTB Bridging launches Nivo’s ID sharing with dual rep solicitors


29th Apr 2020

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After UTB Bridging extended its use of Nivo to service bridging customers, it innovated its loan process further using Nivo ID Passporting. The new feature will allow customers to consent to share their identity information with their dual representing solicitor, saving all parties time and allowing UTB to continue progressing and completing bridging loans during the Covid-19 lockdown.

Using the app, the customer’s identity is verified using facial recognition AI, developed by Onfido, to compare an applicant to their passport, driving license, or national ID card. After working closely with UTB and their solicitors, the ID verification information can be automatically shared with Lightfoots LLP and JMW Solicitors LLP.

Gavin Diamond, commercial director of bridging at United Trust Bank (pictured above), commented: “This latest enhancement enables the borrower to pass a single ID verification check to satisfy requirements for both the lender and solicitor.

“Not only will this save even more of our customers’ time and hassle, but it also enables transactions to go ahead, despite the coronavirus lockdown.

“We’ve worked hard with Nivo and our solicitor partners Lightfoots and JMW to bring this ‘Nivo Passporting’ enhancement to the market, and we look forward to our customers and brokers benefitting from this straightforward, timesaving solution.”

Polly Taylor-Pullen, business development at Nivo, recently launched the feature to the bridging market in order to help brokers, lenders and solicitors maintain operations during the COVID 19. She said she was very pleased to be supporting UTB with this feature that would “lead to stronger, quicker and sleeker deals,” now and after the crisis.

“By seeing current challenges as an opportunity to improve customer experience and innovate, UTB, Lightfoots, and JMW have proved themselves as leaders in the bridging industry,” she added.

Jodi Lund, partner and joint head of real estate finance at JMW, commented that the enhancement would help it make the process of identification much easier and smoother for clients and improve the client journey even further.

“This latest fintech solution is being trialed at an extremely challenging time for all businesses and innovative solutions such as this will make a big difference,” she stated.

Joe Middleton, managing partner at Lightfoots LLP, added: “We are proud to be leading the adoption in conveyancing of this industry-leading fintech from UTB and Nivo, at a time when it is most crucially needed by the market.

How does Nivo help leaders in Bridging:

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.

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