Nivo and Toomey Leasing Group team up to tackle ID verification problems

Asset Finance Connect’s Fintech Innovator Award winner Nivo have helped Toomey Leasing Group accelerate their ID collection and verification process and increase their productivity and conversion.

Toomey have launched a mobile app powered by Nivo developed technology which enables customers to complete biometric ID verification via their mobile device in just a few minutes.

The digital solution is seamlessly integrated with Toomey’s existing technology including specialist automotive finance software from QV Systems.

Toomey Leasing Group, part of the Laindon Holdings group of companies, have been established for over 50 years and currently have operations in Basildon, Derby, Chester and Salisbury.

Managers at Toomey recognised they had an opportunity to speed up the customer ID verification process by improving the quality of the documents and images returned by customers and automating more of the process. Staff at Toomey do not see many of their customers, so high-quality ID verification and authentication is very important in preventing fraud and ensuring a smooth customer journey, especially with finance applications submitted to other lenders. Toomey’s biggest challenge was capturing clean data.

Before integrating Nivo’s solution they estimated around 50% of the documents returned by customers were ‘utter rubbish’ – out of date or unsuitable documents and upside down and poor-quality images being the major causes of delays.

Time consuming manual intervention by Toomey staff was required to progress cases but the delays would often lead to cancellations and lost revenue, directly impacting the business’s bottom line. Time and resource released via Nivo is now employed on higher value tasks which increase capacity and conversion.

Nivo is a Fintech company focused on transforming UK lending and broking businesses, shaping the way customers, lenders, and intermediaries interact. Its app-based solutions offer features including biometric ID verification, secure, instant messaging technology which replaces paper, post, email, and other time-wasting and unsecure channels, allowing providers to design a better, safer service for customers and third parties.

Nivo’s technology can be white-labelled or integrated into an existing mobile app, meaning all financial providers can gain a 5 star rated, bank-standard secure mobile app, under its own brand.

David Houlgrave, CEO of Toomey Leasing Group, said: “We are delighted with the ID verification system. The technology has integrated seamlessly into our current systems. We have had very positive feedback from our customer base, and it is already an important part of our workflow process. Traditionally, customers were required to e-mail personal documentation, causing a risk of data breaches. The Nivo system has removed this requirement and has enhanced the security of personal data as well as cutting down on the administration burden of ID verification.”

Damon Williams (pictured), Sales Director of Nivo, said: “Toomey Leasing Group pride themselves on delivering a great customer experience and they recognised that technology could make the process of leasing a car much quicker and simpler for their customers and at the same time grow their business. Lots of skilled staff time was being wasted chasing new ID verification documents when those same staff could be driving more revenue. Nivo’s intuitive mobile app makes the whole process quick, easy and reliable, improving customer satisfaction, increasing conversions and enabling businesses to develop their capacity without having to hire additional staff.

“Nivo’s solutions have been adopted by many specialist lenders and brokers in the mortgage and commercial sectors including Pepper Money, Together Money and United Trust Bank, all of which recognised and embraced the way Nivo can transform their customers’ experiences. We are excited about the opportunities presented by the Asset and Automotive Finance sector, our recent partnership with QV Systems and the increasing number of motor finance providers and introducers exploring how technology can help them grow their businesses and deliver an outstanding service.”