LendInvest and Jumio have formed a partnership to speed up loan applications.
By incorporating Jumio’s biometric-based technology into its digital application system, LendInvest’s buy-to-let applicants can confirm their identity online instead of in person.
A customer must upload a photo of their ID document and take a selfie using their smartphone to confirm their identity.
The integration also offers a proof of residency check, which further speeds up the application process.
This partnership makes the mortgage application process easier for both brokers and their clients as it saves them time, effort and resource, outlined LendInvest.
Arman Tahmessabi, chief operating officer at LendInvest, said: “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.”
Dean Hickman-Smith, chief revenue officer at Jumio, added: “We are delighted to be working with LendInvest to help them confidently onboard new users remotely and to reduce friction from the mortgage application process while meeting onerous KYC requirements.”