The system helps to navigate the requirement for certified ID, usually provided by a solicitor.
One Mortgage System (OMS) has partnered with mobile messaging platform Nivo to offer facial recognition ID verification.
The system helps to navigate the requirement for certified ID, usually provided by a solicitor.
ID is verified by using machine learning and facial recognition to check the applicant is the genuine owner of an authentic passport, driving license or national ID card.
According to OMS, the system eliminates human error associated with hard-copy documents and mitigates fraud.
Neal Jannels, managing director of One Mortgage System (OMS), said: “We are always looking for ways to streamline the application to completion process for our users and working with like-minded service providers who can add real value to any intermediary proposition.
“Despite information security, data privacy and compliance cited as top priorities, a lot of intermediary firms tend to struggle with digital transformation projects.
“Nivo is quick to deploy, simple to integrate and the benefits are quickly evident.
“It’s an exciting product which will speed up and simplify an antiquated ID verification process across a mortgage market which is swiftly catching up to other areas of financial services from a tech perspective.”
Matthew Elliott, chief development officer at Nivo: added: “Lenders and brokers love Nivo because it makes it easy for them to offer the kind of modern mobile experience that customers expect.
“On the back of this success, our clients are increasingly pushing for the additional value available through hooking customer data gathered via mobile into core systems."
