Property finance platform LendInvest, is partnering with biometrics provider Jumio, to help streamline the onboarding process for digital applications for LendInvest’s Buy-to-Let (BTL) product.
The tie up will integrate Jumio’s AI-powered identity verification and eKYC solutions into LendInvest’s platform, with customers invited to use biometric-based technology to confirm their identity online.
The process requires customers to upload a photo of their ID document (e.g., passport, driving licence) and take a selfie using their smartphone to complete the onboarding application process for mortgage products.
The integration also offers a proof of residency check without need for physical copy documents, which speeds up the application process.
The announcement follows news in January that LendInvest has launched a new £500 million funding partnership with J.P. Morgan to finance its BTL product.
Arman Tahmessabi, chief operating officer at LendInvest.“We’re very excited to announce this partnership with Jumio as we seek to consistently streamline our application processes.”
“The last year has highlighted even more clearly how paper-based processes are no longer fit for purpose, and a digitisation of the mortgage process is the most efficient move for our brokers and borrowers.”
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