Alternative Bridging Corporation has partnered with fintech firm, Nivo, to offer a new app based solution.
The move will make Alternative Bridging’s application process quicker and easier for its customers and administration staff, and aims to accelerate deal completion times.
The bridging finance lender offers short-term secured funding of up to £10m for individuals, property developers and businesses. Using the new Nivo app, borrowers will now able to complete biometric ID verification using facial recognition technology via their mobile devices. Document upload functionality and secure instant messaging will also allow customers to share confidential documents securely, helping to accelerate the bridging lender’s underwriting process.
Since implementing the new app, one Alternative Bridging customer was able to verify their identity and upload supporting documentation within 7 minutes of receiving the invitation to download the mobile app to their device.
Alternative Bridging director, Allan Kay, commented: “We understand the importance of supporting flexible human underwriting with the latest technology.
“Speed of application and execution is a key factor in bridging finance, so it is important that we make the customer journey as quick and smooth as possible. Nivo’s solution provides a slick mobile experience which benefits brokers, borrowers and our staff.”
Nivo business development, Polly Taylor-Pullen, added: “In a market such as bridging, where speed is so important, it’s great to see Alternative Bridging already benefitting from their customers downloading and using the app to communicate and transfer documents and I’m sure they will build on this success by staying at the forefront of the switch to digital processing.”
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