The lender said this would make access to its finance more accessible, faster and fully compliant.
HomeNow is a rent to own lender that allows customers to turn monthly rental payments into a deposit for a home through home purchase plans (HPPs).
Customers will choose a property and rent for either two or five years, with the payments accounting for 5% of the property value at the end of the term.
The lender aims to make its process seamless and friction-free, and Sikoia’s verification platform powered by artificial intelligence (AI) will be utilised to automate document processing across income, employment and affordability assessments. This will replace manual reviews with real-time verification and analysis.
HomeNow will also gain access to additional data services through the Sikoia platform, including identity verification, credit reporting and anti-money laundering (AML) screening.
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This will allow HomeNow to progress applications faster and offer a clearer, more consistent experience for its customers while maintaining regulatory controls.
Sikoia uses bank statements and open banking data to automate customer information.
Gareth Ship, COO at HomeNow, said: “Partnering with Sikoia supports our goal of delivering a transparent and accessible route to homeownership.
“Automating verification and compliance checks as part of our own digital platform allows us to progress applications faster, reduce manual touchpoints, and give customers a clearer, more consistent experience as they pursue their path to ownership.”
Alexis Rog, founder and CEO of Sikoia, added: “HomeNow is taking an automation-first approach to helping more people onto the housing ladder. We’re excited to partner with them to unify income, affordability, and compliance checks in one platform, improving the applicant experience while supporting their rapid growth.”
