Nivo surpasses five million message milestone

Nivo has reached a significant milestone on its secure instant messaging network, surpassing the five million message mark.

The fintech solutions provider said it expects to hit the 10 million mark for messages sent and received over its secure network before the end of the year, with message volumes now exceeding half a million every month.

Nivo recorded over 4.1 million messages exchanged between lenders, brokers, borrowers and lawyers in 2020, which was a 352% increase on the 0.9 million messages exchanged in 2019.

This message count excluded a significant volume of ‘Nivobots’ sent and received on the network, which allow institutions to automate processes and information gathering, including ID verification and document transfers. The application of automated ‘NivoBots’ increases lender and broker efficiency, enabling staff to spend time adding value during transactions rather than carrying out repetitive administrative tasks.

As well as the increase in message traffic, Nivo also reported an almost tenfold year-on-year increase in document transfers via its network. In 2019, Nivo users completed 5,700 document requests but in 2020 this had rocketed to more than 55,000.

“Passing the five million message milestone is a significant achievement for Nivo and the huge increase in secure message traffic demonstrates how the adoption of fintech has grown during the last 12 months,” commented Nivo CEO and co-founder, Michael Common.

“The restrictions to normal business operations and practices created by the pandemic and subsequent lockdowns have undoubtedly accelerated the rate of change as lenders and brokers had to find new ways of remaining operational when travel and meeting became difficult.”

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