LendInvest and Jumio launch ID verification partnership to speed up loan applications
LendInvest, the UK’s leading platform for property finance, and Jumio, the leading provider of end-to-end AI-powered identity verification and eKYC solutions, have announced a partnership that will further streamline LendInvest’s digital application process for its buy-to-let product.
By incorporating Jumio’s award-winning biometric-based technology into its digital application system, LendInvest BTL applicants can confirm their identity online instead of in person. All they need to do is upload a photo of their ID document (e.g. passport, driving licence) and take a selfie using their smartphone.
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. It saves them essential time, effort and resource by removing the need for certified physical copy documents to be provided.
Arman Tahmessabi, chief operating officer at LendInvest, commented: “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.”
This announcement follows news in January that LendInvest has launched a new £500m funding partnership with J.P. Morgan to finance its BTL product.