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A technology company has unrolled a specialised solution for brokers and lenders facing challenges as social distancing reduces the opportunities for face to face meetings and complicates the verification of identity of new clients.
InfoTrack has announced a COVID-19 Care Package designed to support mortgage brokers with gaining immediate access to a cloud-based, online verification of identity (VOI) service that securely and accurately replicates the verification process between you and your customer.
The package delivers peace of mind that you can meet requirements without stalling your customer’s financial needs, and without risking your or your customer’s health through eliminating the need to share copies of important identity documents via email, including passports and driver’s licenses.
ARNECC’s 20 March update to the VOI standards to cater for remote working during COVID-19, now enables lenders to use video technology as part of their VOI process as well.
What's included in the Care Package?
InfoTrack clients say their customers are time poor, even while working from home. Plus, given the current environment, customers can’t readily get to a post office. Using WebVOI offers relief that the VOI process can be completed safely, quickly and efficiently, without needing to meet face to face.
The Care Package includes complimentary, unlimited usage of its remote online VOI solution, WebVOI, to conduct as many customer verifications as needed until 30 June 2020. This enables users to continue moving their consumer loans and refinancing transactions forward by undertaking customer verification requirements remotely and getting them done in minutes.
What is WebVOI?
WebVOI is an online VOI solution offering four layers of verification, including video verification that was originally built for lawyers and conveyancers.
With ARNECC’s March 20 update taking social distancing into account, alternate identity verification methods are being sought out.
WebVOI complies with ARNECC's VOI recommendations and since mid-March, WebVOI has seen a spike in transactions by 43%, effectively helping industries to continue to stay healthy whilst adhering to social distancing guidelines and protecting clients from identity fraud.
How does WebVOI work?
Step 1: Start a verification of identity and invite your customer to participate online.
Step 2: Your customer securely shares their identity documents via WebVOI.
Step 3: WebVOI uses four layers of innovative technology to confirm your client’s identity. Text is extracted from identity documents and is then checked against Australian Government records. Facial recognition checks are performed, and video verification allows you to confirm your client is who they say they are.
Step 4: A customer VOI report is provided back to you with a Pass or Fail.
How do I access WebVOI via the Care Package?
We understand business may be tough and we are all in this together. When business as usual seems challenging, InfoTrack aims to assist business continuity as much as possible. To access the Care Package, get started with InfoTrack today.
