United Trust Bank (UTB) has extended its facial recognition ID verification tool to allow information to be shared with a client’s dual representing solicitors.
UTB originally launched the facial recognition tool last year through its Nivo app before extending it to bridging customers in February.
Since then, the lender has worked with its dual representation solicitors Lightfoots LLP and JMW Solicitors LLP to develop the new feature.
Using the UTB Nivo app, the customer’s ID is verified using facial recognition AI, developed by Onfido, to compare an applicant to their passport, driving license or national ID card.
The lender said this would remove the need for customers to meet face-to-face with solicitors or with another appointed agent to prove their identity.
This update is expected to save time and allow UTB to continue progressing and completing bridging loans despite the social distancing restrictions put in place due to the Covid-19 outbreak.
Gavin Diamond, commercial director – bridging at United Trust Bank, said: “The introduction of the Nivo ID verification service for bridging loans has made the process quicker and easier for customers and their brokers.
“We’re keen to keep evolving UTB’s bridging service by employing smart fintech solutions where they help to streamline and simplify customer and broker journeys.”
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.
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