This follows UTB’s decision to extend the use of its Nivo facial recognition service to bridging customers.

Using the app, the customer’s identity is verified using facial recognition AI, developed by Onfido, to compare an applicant to their passport, driving license or national ID card.

Thanks to the latest enhancement — after working closely with Nivo Solutions and UTB’s solicitors, Lightfoots LLP and JMW Solicitors LLP — the ID verification information can be automatically shared with the customer’s chosen dual representing solicitors.

It is designed to save all parties time and allows UTB to continue progressing and completing bridging loans during the Covid-19 lockdown.

Gavin Diamond, commercial director of bridging at United Trust Bank (pictured above), commented: “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.

•   TAB x B&C Magazine: Lenders and developers urged to be 'more opened minded' to changes in tech
•   UTB expands Nivo facial recognition service to bridging to speed up application process
•   UTB enters Scottish bridging market

“We’ve worked hard with Nivo and our solicitor partners Lightfoots 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, said it was very pleased to be supporting UTB with this feature that would “lead to stronger, quicker and sleeker deals,” now and after the crisis. 

“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,” she added.

Jodi Lund, partner and joint head of real estate finance at JMW, commented that the enhancement would help it make the process of identification much easier and smoother for clients and improve the client journey even further.

“This latest fintech solution is being trialled at an extremely challenging time for all businesses and innovative solutions such as this will make a big difference,” she stated.

Joe Middleton, managing partner at Lightfoots LLP, added: “We are proud to be leading the adoption in conveyancing of this industry leading fintech from UTB and Nivo, at a time when it is most crucially needed by the market.