The cloud-native platform has integrated electronic ID (e-ID) verification into its broker workflow, and it is available through the Mortgage Magic Client app. The firm said this would replace slow manual document collection with a more secure process.
The firm said that with the risk of mortgage fraud and stricter anti-money laundering (AML) regulations, brokers were under more pressure to verify clients accurately. It added that the traditional method of asking clients to bring passports to an office or email scanned copies was “inefficient, creates friction, and is increasingly vulnerable to forgery”.
Mortgage Magic embeds the e-ID directly into the client onboarding journey, so clients can verify their identity remotely with a secure link, while the system runs instant background checks.
The feature uses facial verification technology to match the client’s selfie to their government-issued ID.
Tanjir Sugar, CEO of Mortgage Magic, said: “Identity verification should be the most secure part of the mortgage process, but it shouldn’t be the hardest.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
“We have moved past the days of ‘certified true copies’ and waiting for a post. By integrating facial verification checks directly into the platform, we are giving brokers the tools to spot fraud instantly while offering genuine clients a frictionless, digital onboarding experience that takes seconds, not days.”
