Finvest completes successful pilot of Nivo to accelerate application process

Finvest has become a virtually paperless business, after improving its processing time following a successful pilot of Nivo’s technology.

The property finance broker provides a range of specialist funding solutions including bridging, development, buy-to-let, commercial and complex residential mortgage finance.

The firm approached Nivo at a time when it was targeting customer growth through increased efficiencies. Finvest found that the time taken to collect relevant information from customers, especially if sent by post, was creating delays and an unnecessary administrative burden.

An estimated 70% of the processing time was spent on chasing documents and responses, Finvest revealed.

Nivo provides a streamlined end-to-end onboarding and application process utilising the many features offered through the app, enabling Finvest to meet its growth objectives.

Following the pilot, the time it takes to onboard new clients has been cut drastically as a result of the app’s features, with most customers completing the process in around half an hour.

Nivo has also estimated that more than 95% of cases are also virtually paperless, whilst waiting times for customer documents have been cut by half through Nivo’s automatic “chaser” feature.

Finvest now manages its workflow on a single platform with staff using a desktop-based console which enables visibility of case progression and administration across the broker team ensuring a better experience for customers and staff.

Furthermore, Finvest customers can complete ID checks and e-signing through the Nivo app rather than having to see solicitors in person to verify their identity or use third-party software solutions.

Founder and director at Finvest, Tanvir Faisal, said: “Our business has grown substantially over the last year and the technology we employ is key to us developing our business while providing an excellent service to our customers. Nivo was able to provide the solution we wanted very quickly and avoiding the expense of developing and maintaining an in-house system.

“Nivo’s app has accelerated, simplified and streamlined the customer journey and it has substantially reduced the amount of time our team spends on repetitive and time-consuming administrative tasks. Our customers love using the app and our staff benefit from the additional time they have to add value, drive conversions and complete more cases. Nivo has helped us to transform Finvest’s business and I am excited for the future.”

Sales director at Nivo, Damon Williams, added: “The Nivo app is a quick and cost-effective way for brokers to reduce application timescales, improve their communication security and provide a smoother and safer journey for their customers. Time is critical in the specialist finance sector with speed of application having a direct impact on conversions.

“We can have Nivo up and running with brokers’ systems in as little as one to two weeks with the benefits of the Nivo solution being experienced by customers and staff almost immediately.

“Borrowers are becoming increasingly accustomed to slick mobile experiences, and they will expect to deal with brokers and lenders using well designed and intuitive apps.”

    Share Story:

Recent Stories

Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.