Digital ID verification provider IDVerse has partnered with Australia-based online lending platform Nimo Industries to accelerate customer onboarding when applying for a loan. Nimo partners with IDVerse to verify a customer’s identification so that a loan can be originated in minutes and settled in hours - a game changer in the mortgage industry, as loans could previously take up to 6-8 weeks to process due to delays in the verification process.

The partnership also supports Nimo’s global expansion plans. Nimo is an innovative SaaS platform that automates the complete lending experience for banks, lenders, and mortgage brokers - from acquiring customers to loan decision-making, settlement, and depositing money in the borrower’s bank account. Officials from Nimo Industries emphasised the role of their partnership with IDVerse in enabling digital processes for settlements, contracts, and signatures.

This collaboration simplifies mortgage origination, supports lenders in their digital transformation, and promotes the adoption of digital lending globally. They also highlighted the importance of digital ID verification in meeting regulatory requirements for loan applications, which allows lenders to conduct additional compliance checks swiftly, such as credit bureau, land title, and bank account verification. Rapid integration and streamlining identity verification for lenders Nimo’s extensive collaboration with IDVerse has enabled them to swiftly integrate the partner’s APIs into their systems, allowing them to onboard banks and lenders in just four to five weeks, a process that typically takes competitors several months or even years, as per the press release.

With its humanity-first, tech-centric approach, IDVerse provides a comprehensive suite of proprietary solutions – biometric verification (known as liveness technology), identity document verification, data verification, video KYC, age verification, and reauthentication. Powered by AI, IDVerse can learn organically, protecting users from identity fraud while enabling a seamless user experience. By removing the burden of identity verification for its customers, they can focus on scaling their business without the compliance and operational overheads.

IDVerse’s representatives commented on the importance of thorough document checks in home loans and how their ID verification system efficiently meets compliance standards, prevents fraud, and establishes trust in loan applicants' identities. IDVerse offers accessible online services with biometric verification technology driven by AI, replacing the traditional agent/call centre approach. Their global reach, verifying over 16,000 ID documents across 220 countries and handling 142 languages, positions them to support Nimo's global expansion efforts.

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