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UTB extends facial recognition ID verification service to bridging

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  • 25/02/2020
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UTB extends facial recognition ID verification service to bridging
United Trust Bank (UTB) has extended the use of its electronic facial recognition ID verification service to bridging customers.

 

The system, based on a bespoke smartphone app, was rolled out to UTB’s mortgage customers in September 2019.

Customers borrowing £1m or less are able to use the Nivo app and save themselves time and inconvenience and verification takes just 90 seconds to complete, the lender said.

However, customers can choose to meet a UTB representative to go through the identity verification process in the traditional manner if they prefer.

Identity is verified by using facial recognition AI to compare an applicant to their nominated document such as a passport, driving license or national ID card.

United Trust Bank commercial director – bridging Gavin Diamond noted that introducing the verification service for qualifying bridging loans will make the application process quicker and easier for customers and their brokers.

“UTB’s mortgage customers have been benefitting from the service since September and we have been working closely with Nivo to enable the innovative service to be applied across more of our products,” he said.

“At UTB we are keen to introduce innovative FinTech solutions where they help to streamline and simplify customer and broker journeys,” he added.

 

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