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 (BTL) 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.
“We’re very excited to announce this partnership with Jumio as we seek to consistently streamline our application processes,” said Arman Tahmessabi, chief operating officer at LendInvest. “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.”
“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,” said Dean Hickman-Smith, chief revenue officer at Jumio.
This announcement follows news in January that LendInvest has launched a new £500 million funding partnership with J.P. Morgan to finance its BTL product.
When identity matters, trust Jumio. Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through a unified, end-to-end identity verification and eKYC platform. The Jumio KYX Platform offers a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring.
Leveraging advanced technology including AI, biometrics, machine learning, liveness detection and automation, Jumio helps organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC, AML and GDPR. Jumio has verified more than 300 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.
LendInvest has lent over £3bn of short term, development and buy to let mortgages. Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages.
The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and Buy-to-Let Lender of the Year for 2020 at the NACFB awards.
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