Backlogs in issuing official ID documents such as passports and driving licences are driving a surge of interest in remote, document-free electronic ID verification, according to SmartSearch.
The anti-money-laundering (AML) specialist suggested that firms required to verify identity should “embrace the benefits of going digital.”
Both the Passport Office and the DVLA are advising customers of significant delays in issuing new ID or renewing existing documents due to reduced capacity during the COVID-19 pandemic, SmartSearch highlighted.
The AML expert said that firms required to verify the identity of their customers and perform due diligence have reported this is impacting on their business, and that these firms are unable to onboard new customers, or conduct significant transactions on behalf of existing ones, on the basis of ID that is close to or past its expiry date.
SmartSearch’s own Know Your Customer (KYC) and AML solution doesn’t require identity documents with just a name, address and date-of-birth needed to conduct a full set of AML checks – which includes screening against global sanctions and politically-exposed persons (PEP) lists.
“The backlogs at the Passport Office and DVLA are further indications of the way we’re all having to think again about how we conduct business in the wake of COVID-19,” SmartSearch chief executive, John Dobson, commented. “SmartSearch provides an easy way for firms to circumvent these problems – while also making the onboarding and KYC process quicker and simpler for both staff and customers.
“The advantages of electronic ID verification are clear, with or without COVID-19. It’s high time firms of all shapes and sizes embraced the benefits of going digital.”
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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