United Trust Bank (UTB) has launched a digital security check process for its first and second charge mortgage customers through the UTB Nivo App.
In what the bank claims to be an industry first, customers will be given the latest copy of a mortgage illustration and asked to confirm specific details. They will also need to complete biometric ID verification which includes facial recognition and fingerprint mapping.
This process can be completed at any time and will be triggered by the UTB underwriting team just before the mortgage offer is issued.
Although the bank will still be able to do security checks over the telephone, digital checks will become its preferred method, it said.
Buster Tolfree, commercial director – mortgages at United Trust Bank, said: “Many brokers are having to change their normal operational practices to adapt to the challenges presented by the Covid-19 pandemic.
“Moving more elements of our application process to digital alternatives helps us to maintain service levels with fewer staff in the office and whilst social distancing is restricting travel. However, the benefits of a slick, efficient processing system will continue when everyday life eventually returns to normal.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS