P2P Case Study: Fast, Secure and Compliant ID Verification on Borrowers & Investors
Peer-to-Peer (P2P) Property lending provider, Blend Network, needed a secure, compliant and fast client onboarding process to verify both lenders and borrowers, in a highly regulated market. They needed an ID verification platform that would be fast, accurate, scalable, flexible, and cost-effective whilst complying with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
Blend Network turned chose NorthRow to implement a fast, secure and cost effective client onboarding solution. Learn more.
Streamlined client onboarding and real-time results
Ongoing AML compliance
Improved fraud detection
Increased Return on Investment
Key Clients Include
NorthRow Offers a Single API to Help Automate Compliance & Streamline Client Onboarding
Identity verification is crucial to P2P lending, it enables the lending company to have solid knowledge of the borrower and their repayment behaviour. Like the process for traditional financial loans, the P2P industry requires a robust identity verification process to ensure that a borrower is a real person and their contact information is valid.
NorthRow’s solution enables complex ID verification checks to be done at speed, saving time and money, and ensures our clients can deliver a better and faster client experience. We can easily integrate into your existing systems.
Integrated into a website sign-up form
Via your web or mobile application
As part of an interview process for example during a face-to-face meeting
Via your own bespoke software with API capability
"“It is crucial for us not only to be compliant but also to safeguard our clients and the integrity of our brand. With NorthRow’s help we can not only streamline client onboarding and meet AML regulations, but we know that we have the best due diligence and fraud protection system in the market”.
Zain Mirza , Head of Operations, Blend Network