Verifi partners with Cambridge & Counties Bank to streamline asset finance verification
The bank’s asset finance division will use the platform to streamline asset verification and speed up payouts.
Verifi has partnered with Cambridge & Counties Bank to support its asset finance strategy using verifi’s virtual inspection platform.
The bank’s asset finance division will use the platform to streamline asset verification and speed up payouts.
The partnership also includes spuuf, verifi’s fraud mitigation technology, which validates the authenticity of images and provides proof of asset existence.
This enables Cambridge & Counties Bank to maintain rigorous risk protection while speeding up the process.
Jonathan Garnett, co-founder of verifi, said: “Cambridge & Counties Bank’s commitment to manual underwriting and relationship-led banking is exactly why verifi is such a logical fit.
“We aren’t here to automate the lending decision; we are here to remove the friction in that process.
“By delivering high-quality, consistent asset data in an accessible format directly to their underwriters, we are helping CCB make their bespoke lending decisions faster and more securely than ever before.”
Glen Christie-MacAllan, head of asset finance at Cambridge & Counties Bank, said: “There is heightened demand from businesses, and the finance brokers that work for them, for competitive asset finance funding.
“Through our tailored lending approach, Cambridge & Counties Bank is very well positioned to serve this market.
“Partnering with verifi allows us to significantly streamline our asset verification processes and reduce the time taken to payout, whilst ensuring our frontline team continues to deliver the highly personal, expert service our partners rely on.”
Related
Brokers see 29% increase in asset finance applications – Allica Bank
Allica Bank launches reduced asset finance rate for hard assets
Time Finance partners with verifi to launch virtual asset inspection platform
Paragon SME Lending cuts credit decision times on asset finance deals
Demand for luxury asset finance up 260% – Enness Global
Simply Asset Finance joins the NACFB as Patron lender
Aldermore launches Platinum Broker status to boost asset finance partnerships
Reward Funding provides £1.6m asset finance facility for Renovo Tool Group
Tim Vaughan Racing Ltd secures £545,000 asset finance facility from Paragon Bank
United Trust Bank Asset Finance completes £319,000 hire purchase facility
British Business Bank agrees £350m ENABLE Guarantee deal with Allica Bank
