Homebuyers can now use Verify 365 NFC app to prove their identity
17 February 2022
The needs of your business clients versus those of private individuals may differ in emotional sensitivities. But law firms need highly secure, traceable communication channels in every matter.
Launched in March 2021, HM Land Registry’s first Digital Identity Standard provides a step-by-step list of requirements for conveyancers’ use of digital services to verify their client’s identity securely and conveniently online.
Dubbed NFC Verification, the new platform will join Lawtech 365 umbrella of ID document, anti-money laundering, open banking, address and selfie biometric identity verification products.
Verify 365 customers are now able to verify a variety of chip-based identity documents, including e-ID cards, e-Passports, and e-driving licences.
“Due to the increase in the demand for digital IDs, law firms are looking for a faster and more compliant ways of identity verification,” commented Verify 365’s CEO, Rudi Kesic.
The process involves end-users uploading a photo of their NFC-enabled ID document, then scanning the same using an NFC-enabled smartphone.
According to Verify 365, the verification process, which will match the data extracted from the NFC chip against the information on the ID document, will be immediate and the result will be delivered in real-time.
“Technology is evolving rapidly and being a niche legal sector technology service provider it’s crucial for us to adopt the new trends in mainstream technology and provide law firms with a more reliable identity verification process,” Rudi Kesic added.
Verify 365 makes identity verification much more convenient as it can be done at any time, without the need to meet physically, for all clients whether residential or commercial. It also provides enhanced security by requiring the use of smartphones to extract encrypted information contained within the chips of documents such as passports.
Mike Harlow, General Counsel, Deputy Chief Executive and Deputy Chief Land Registrar, comments:
“Proving your identity when buying or selling your property can be a pain. But of course, it is essential to the security of such high value transactions. This new standard for digital biometric identity checking marks an exciting milestone towards a truly digital conveyancing process.”
The release of this HMLR standard marks another key step toward the future of conveyancing. It provides a clear blueprint for technology providers to develop a range of secure and convenient options to support conveyancers better.
HM Land Registry will continue to develop and tailor the standard by widening the scope to incorporate different legal entities and to explore the availability of more enhanced digital means of obtaining evidence to link the party to the transaction with the particular property.
The Department for Digital, Culture, Media & Sport (DCMS) is currently developing an overarching “trust framework” for digital identity use across the economy. HM Land Registry will continue to work closely with DCMS over the coming months to ensure alignment.
Verify 365 technology solution currently offers a reported accuracy rate of 98.7%. With the addition of NFC, the company said it will be also able to detect fake and tampered documents more accurately.
“This will not only enhance the accuracy of results for law firms but will help them improve their clients’ experience by incorporating new technologies in the user verification journey,” the CEO concluded.
The new HM Land Registry standard is optional. However, it offers a “Safe Harbour” for those conveyancers who meet the requirements. HM Land Registry will not seek recourse against conveyancers who comply with the standard in the event their client was not who they claimed to be.
About Verify 365
Verify 365 is a legal sector identity verification company that protects law firms and their clients from online identity fraud by making sure that a person is who they claim to be. With the help of artificial intelligence, Verify 365 can analyse thousands of technological and behavioural variables in seconds, verifying people from 190+ countries. The platform is owned and managed by Lawtech 365 Limited, a company registered in England.
Near-field communication (NFC) enables different electronic devices to establish communication between them by bringing them close to each other.
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