LendInvest, the UK’s marketplace platform for mortgages, and has forged a partnership with identity verification provider Onfido to streamline its digital application process for Buy-to-Let (BTL) product.
Instead of the need for paper forms, LendInvest BTL applicants can now confirm their identity online by incorporating Onfido’s proprietary technology into its digital application system.
The new solution not only eliminates the needs for certified physical copy documents and saves time, but also it makes the mortgage application process easier for both brokers and their clients
Plans are also being considered to add Onfido technology into the onboarding process used for LendInvest’s online investment platform in the future.
LendInvest co-founder and CEO Christian Faes said: “Working with Onfido is a great example of two fintech companies working together to solve an all-too-common financial services problem.
“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.
“Wherever it makes sense, we’ll always integrate these with other technology leaders’ complementary tools for the added benefit of our customers.”
In May, LendInvest integrated Stripe’s digital payment services to take online valuation fee payments for BTL applications.