When the RBA announced interest rates would remain on hold at 0.25%, this was good news for borrowers despite the disruption and upheaval COVID-19 is causing. However, brokers and lenders are facing challenges as social distancing reduces the opportunity to conduct face to face meetings and verify the identity of new clients.
To combat this challenge, InfoTrack has introduced a specialised COVID-19 Care Package. This package has been 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.
What's included in the Care Package?
The Care Package includes complimentary, unlimited usage of WebVOI, a remote online verification of identity (VOI) solution to conduct as many customer verifications as needed until June 30, 2020. This means you can still keep your consumer loans and refinancing transactions moving forward by undertaking your customer verification requirements remotely - in minutes - using WebVOI.
What is WebVOI?
WebVOI is an online VOI solution offering four layers of verification. In minutes you can accurately, safely and efficiently verify any new client without needing to meet them face to face. Watch this demonstration video to see how quick it is to verify your client’s identity without meeting in person.
InfoTrack clients say that when trying to conduct identity verification, their own customers are time poor, even while working from home. Given the current environment, customers can’t readily get to a post office, so using WebVOI offers relief that the verification of identity process can be completed safely, quickly and efficiently, without needing to meet face to face.
The COVID-19 Care Package will give you peace of mind that you can meet requirements without stalling your customer’s finance needs, nor putting your health or your customer’s health at risk and eliminating the need to share copies of important identity documents via email, including passports and driver’s licenses. In minutes you can accurately, safely and efficiently verify any new client without needing to meet them face to face.
InfoTrack is one of the largest legal-tech players in Australia servicing lawyers and conveyancers with automation of people, property and company processes. When launching the Care Package, InfoTrack’s CEO John Ahern said, “It makes sense to offer our support to lenders with meeting their obligations for customer verifications, especially when property matters are so essential to the survival of our 8000 legal and conveyancing clients.”
Since mid-March, WebVOI has seen a spike in transactions by 43%, effectively helping users stay healthy whilst adhering to social distancing guidelines and protecting client’s from identity fraud.
How does WebVOI work?
Step 1: Start a verification of identity - 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.
InfoTrack is the leading innovator in legal technology. We provide an integrated platform that enables our clients to find, analyse, organise and communicate information efficiently and effectively. InfoTrack has been at the forefront helping businesses through technology innovation for over 19 years and has a deep understanding of the legal conveyancing industry with over 8,000 legal clients across Australia.