United Trust Bank’s ID verification information can be automatically shared with the bridging customer’s chosen dual representing solicitors.

This follows work with Nivo Solutions and its dual representation solicitors, Lightfoots LLP and JMW Solicitors LLP.

Earlier this year, UTB introduced facial recognition ID verification via the UTB Nivo app.

Until now customers had to meet face to face with solicitors or with another appointed agent to prove their identity.

Using the UTB Nivo App, the customer’s ID is verified using facial recognition AI, developed by Onfido, to compare an applicant to their 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, said: “The introduction of the Nivo ID verification service for bridging loans has made the process quicker and easier for customers and their brokers. This latest enhancement enables the borrower to pass a single ID verification check to satisfy requirements for both the lender and solicitor. Not only will this save even more of our customers time and hassle but it also enables transactions to go ahead despite the coronavirus lockdown.

“We’re keen to keep evolving UTB’s bridging service by employing smart FinTech solutions where they help to streamline and simplify customer and broker journeys. We’ve worked hard with Nivo and our solicitor partners Lightfoots LLP and JMW to bring this “Nivo Passporting” enhancement to the market and we look forward to our customers and brokers benefitting from this straightforward, timesaving solution.”

Polly Taylor-Pullen, business development at Nivo, added: “By seeing current challenges as an opportunity to improve customer experience and innovate, UTB, Lightfoots and JMW have proved themselves as leaders in the Bridging Industry. Enabling Nivo ID Passporting will make it as easy as possible for customers to access their services with physical restrictions in place. We’re very pleased to be supporting them with this feature that will lead to stronger, quicker and sleeker deals now and when this crisis is over.”