Evolution Money has announced a new partnership with fintech firm, Nivo, to launch a new digital mobile app for customers and adviser introducers.

The specialist second charge lender hopes to accelerate its application processing and significantly reduce completion times.

Nivo’s technology will also help Evolution to reduce the use of email for communication and document transfer.

The Evolution Money App is a customised white label version of Nivo’s  bank-standard secure mobile app, which provides several features such as a deeper fact find questionnaire, digital ID verification, open banking via account score which populates Evolution’s income and expenditure assessments, document collection and storage, e-signing of documents, an appointment booking system, as well as status updates and omni-channel communications.

Nivo worked closely with Evolution chief digital officer, Matt Meecham, to help create the app which uses multiple APIs to integrate with other third-party systems used in the customer journey.

“This transformation project began with a number of relatively minor, but significant changes, and once we had chosen Nivo to provide the core white label app, it quickly gathered momentum to help us integrate smarter technology into the mortgage application process,” Meecham said.

“Our app has a customer focus, but advisers also benefit in terms of the efficiencies it adds to the process, the speed it delivers and our ability to secure smarter data collection. All parties also benefit from better and more secure communication, and a continued support and commitment structure from Evolution. We are committed to more fintech-based enhancements that will bring a considerable benefit to advisers and their second-charge clients.”

The lender’s new app has allowed it to change its contact strategy, deliver the automation of its income and affordability assessments, as well as integrate all elements into a bespoke CRM system to help streamline the advice process.

Evolution has indicated it plans to continue developing its digital journey including a continuation of its ability to embed AI and machine learning into the application process.

Nivo CDO and co-founder, Matthew Elliott, said: “Our team have loved working with Evolution. Matt’s vision and ambition for a market leading user experience is so sharp, and we’re delighted to have played a role in bringing it to life.

“I’m proud that we’re recognised as having done this faster and more cost effectively than alternatives, and even more excited that we’re playing a role in getting Evolution to their fastest ever funded deal.”

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