The software system from TrustID scans identity documents to authenticate security features, both visible and hidden.
Chief operating officer of Fluent Money Tim Wheeldon, said the distributor has a responsibility to lenders and intermediaries to protect them from fraud.
“This purchase takes our regulatory and compliance procedures to a new level and helps us ensure that we have done our utmost to eradicate identity fraud in our industry,” said Wheeldon.
“Within seconds, we know if the identity documentation is valid and can then with confidence send on a fully packaged case to our lenders.”
The machine reads and stores the printed information on the face of the documents, compares chip and machine readable zone data within passports, driving licenses, visas and identity cards while also takes infrared scans of these documents.
Tony Machin, chief executive of Trust ID, said the company was contributing to greater compliance for Fluent’s ‘anti-money laundering’ and ‘know your customer’ drives.
Maeve Ward, secured lending sales and operations director of Fluent Money partner Shawbrook Bank, said she was pleased that the investment had been made in the system to reduce fraud.