Dublin, December 12th 2024 – OnlineApplication.com, a mobile-first platform designed to accelerate the mortgage process, is excited to announce its partnership with leading AI-powered identity verification solution ID-Pal. This collaboration enhances OnlineApplication’s ability to provide real-time identity verification for a more efficient approval process while ensuring full compliance with AML and KYC regulations.
OnlineApplication serves brokers and lenders, offering a customisable and user-friendly platform that manages large volumes of mortgage and life applications. By integrating ID-Pal’s through its API connection, OnlineApplication has reduced the time spent on ID verification to just 1 minute per application and also led to a powerful deterrent to fraudulent applications.
The partnership allows brokers and lenders to identify fraudulent documents with industry-leading accuracy, providing enhanced security without compromising user experience.
ID-Pal is proud to partner with OnlineApplication, Ireland’s largest and most comprehensive platform for mortgage and life brokers, to deliver seamless, efficient, and secure identity verification.
Karl Deeter, Founder of Online Application, highlights the importance of this partnership:
“We needed a solution that would empower brokers with the best solutions available no matter where the client or broker is based, ensure we enhanced compliance and speed while also supporting an Irish tech firm. ID-Pal’s solution provided all of that while remaining compliant with global KYC and AML regulations. Brokers and banks using OnlineApplication.com now benefit from a streamlined process that when combined with all the other system features saves brokers over 50% of time spent on managing a case to drawdown all without sacrificing security or compliance.”
The OnlineApplication.com platform now offers:
- Enhanced Fraud Prevention: ID-Pal’s multi-factor identity verification reduces the risk of businesses onboarding fraudulent users, providing robust fraud detection.
- Operational Efficiency: Automated identity verification has drastically reduced the time spent on manual checks, saving brokers and lenders significant time per application.
- Compliance: ID-Pal’s solution ensures full compliance with global AML, KYC, and data privacy regulations, offering peace of mind for all stakeholders.
Colum Lyons, CEO and Founder of ID-Pal, commented:
“Our partnership with OnlineApplication.com demonstrates how AI can truly transform the mortgage industry. By streamlining approvals using biometric, document, and database checks combined with having zero access to customer data, brokers and lenders using OnlineApplication provide a faster, more compliant process to their clients.”
This partnership is a significant step forward in revolutionising the mortgage approval process, ensuring secure, efficient, and compliant onboarding for all Online Application’s clients.
About Online Application
OnlineApplication is a mortgage and life platform that empowers brokers with efficiencies that matches banks and Life Co’s. The ability to rapidly digitise, save money, increase efficiency, while winning more business and staying secure is key to the firm’s growth, alongside smart partnerships like the one we have formed with ID-Pal, where we build the solutions into the client journey to save brokers and their clients even more time and money.
For more information about OnlineApplication, visit OnlineApplication.com
