Onfido’s technology will allow LendInvest’s BTL applicants to confirm their identity online.
Brokers will also be able to confirm a client’s identity by uploading a photo of one form of identity documentation to the lender’s application portal along with a selfie photo of the applicant taken with their mobile phone.
LendInvest believes this will save time and effort by removing the need for certified physical copy documents to be provided.
Plans are also in place to incorporate Onfido’s technology into the onboarding process used for LendInvest’s online investment platform over the coming months.
- LendInvest reports 91% loan origination growth
- LendInvest reveals first official BTL legal panel
- One in five landlords fall into BTL
“We are continually developing our own technology tools and systems in-house to make the borrower journey through our products simpler, faster and more efficient,” said Christian Faes, co-founder and CEO at LendInvest (pictured above).
“Wherever it makes sense, we’ll always integrate these with other technology leaders’ complementary tools for the added benefit of our customers.”
This latest announcement comes after LendInvest expanded its partnership with Stripe in May to take online valuation fee payments for BTL applications.
“We live in an increasingly online world, and in-person or paper-based processes are no longer fit for purpose,” said Hussayn Kasai, co-founder and CEO at Onfido.
“There's increasing demand from both brokers and consumers for a fast, frictionless and secure lending experience, and we're proud to work with market-leading companies like LendInvest to deliver that.”