The system helps to navigate the previous requirement for certified ID, usually provided by a solicitor. ID is verified by using machine learning and facial recognition to check the applicant is the genuine owner of an authentic passport, driving license or national ID card.
OMS covers product areas such as residential, buy-to-let, second charge, equity release, bridging, commercial plus general insurance and protection.
It has already integrated with four platforms – Iress, Twenty7Tec, iPipeline and Knowledge Bank – to provide users with product, protection and criteria searches.
Neal Jannels (pictured), managing director of One Mortgage System (OMS), said: “Despite information security, data privacy and compliance cited as top priorities, a lot of intermediary firms tend to struggle with digital transformation projects. Nivo is quick to deploy, simple to integrate and the benefits are quickly evident.
“It’s an exciting product which will speed up and simplify an antiquated ID verification process across a mortgage market which is swiftly catching up to other areas of financial services from a tech perspective.”
Matthew Elliott, chief development officer at Nivo, added: “Lenders and brokers love Nivo because it makes it easy for them to offer the kind of modern mobile experience that customers expect.
“We’re proud of having over 2,000 five-star app reviews, alongside the speed and efficiency results, which prove that customers want to engage in this way.”