Specialist short term lender Hope Capital is transforming the way it does business with the implementation of new ID verification and messaging technology.
By introducing Nivo’s secure messaging technology, Hope Capital says it can do away with face-to-face meetings for ID verification purposes. However, as Hope Capital prides itself on its transparency, it will retain video-calls with borrowers to ensure they are talked through the loan terms, conditions and the borrower’s exit route.
The app-based messaging allows a borrower to securely verify their identity with Onfido’s biometric identity verification AI. Additionally, it provides Hope Capital with necessary documentation pertinent to the loan by sharing photos from their smartphone. Hope Capital uses automation in several initial information gathering and verification stages, meaning borrowers can be onboarded from wherever they are and can provide ID verification and documentation at any time. This not only speeds up the underwriting process and enhances customer experience, but also makes it safer in terms of preventing the spread of Covid-19 as it is all done digitally.
Hope Capital CEO Jonathan Sealey says the implementation will further improve the excellent service borrowers and brokers expect from the lender. They can also be reassured that it is secure and accepted by the Land Registry as a bona fide process.
Sealey adds: “Nivo’s technology is proving to be a great addition to our customer service as it enables underwriting due diligence checks to be done by the borrower wherever they are, at a time that suits them. Customers in 2020 expect this type of instant decision and smooth, frictionless experience.
“Within Nivo’s secure messaging, we can automate certain journey flows, drop in time saving fintech features like biometric ID&V AI or speak to customers directly. This flexibility makes the experience much quicker and more straight forward.
“By using one of the best facial recognition software on the market, it enables the borrower to provide proof of ID and address whenever they like, meaning there’s no unnecessary delays. This negates the need for face-to-face meetings for verification purposes, and also makes it Covid-secure.”
Hope Capital is renowned for being a highly flexible lender and is dedicated to providing excellent service to brokers and their clients from initial enquiry through to completion, and the implementation of the Nivo’s technology will further enhance that reputation.
Polly Taylor-Pullen, Business Development at Nivo said: “Lenders like Hope Capital need a quicker, more flexible way to serve customers, without compromising security, and we pleased to be providing them with this solution.
“By using Nivo, Hope Capital are able to offer a much smoother experience for their brokers and customers, strengthening these relationships, while protecting themselves from unnecessary risk.”