United Trust Bank extends Nivo electronic ‘facial recognition’ ID verification service to Bridging customers

25 February 2020

United Trust Bank has extended the use of its electronic ‘facial recognition’ ID verification service to bridging customers. The system, based on a bespoke smartphone App, was successfully rolled out to UTB’s mortgage customers in September 2019.

Customers borrowing £1m or less are able to use the Nivo App and save themselves time and inconvenience. Verification takes just 90 seconds to complete. However, if they prefer, customers can choose to meet a UTB representative to go through the identity verification process.

ID is verified by using facial recognition AI to compare an applicant to their nominated document such as a Passport, Driving License or National ID Card. UTB has a well-established relationship with Nivo who also provide a wide range of FinTech services such as e-signatures, secure messaging and open banking.

Gavin Diamond, Commercial Director – Bridging, United Trust Bank commented:

“The introduction of the Nivo ID verification service for qualifying bridging loans will certainly make the application process quicker and easier for customers and their brokers. Nivo’s cutting edge solution will improve the process for all parties. UTB’s Mortgage customers have been benefitting from the service since September last year and we have been working closely with Nivo to enable the innovative service to be applied across more of our products.

“At UTB we are keen to introduce innovative FinTech solutions where they help to streamline and simplify customer and broker journeys. We enjoy working with leading technology providers such as Nivo to improve efficiency. This enables us to devote more time to delivering a personal service and add value through our individual underwriting.”