Modern verification solutions for brokers that work

By Andrew Black, Managing Director of ConnectID at Australian Payments Plus

For finance and mortgage brokers, balancing customer satisfaction with compliance is no small feat. Verification processes, while essential, often slow things down and create frustration for clients. But what if there was a way to verify information securely, without adding unnecessary friction to the experience? Digital identity solutions are offering a new path, facilitating realtime reliable data transfer, built with privacy in mind.

Verification is the backbone of onboarding and compliance for finance and mortgage brokers. Yet traditional methods of collecting documents, chasing incomplete details, and managing manual checks are timeconsuming and prone to errors. For clients, these outdated processes create friction at a critical moment, while brokers face delays and missed opportunities in an increasingly competitive market.

Fortunately, the technology to streamline this process already exists. Digital identity solutions allow brokers to securely verify essential details, such as name, address and date of birth, using trusted sources like banks. Clients no longer need to upload sensitive documents or fill in forms multiple times. Instead, with a simple, consent-driven process, they can securely share verified information while maintaining control of their personal data.

The benefits are clear for brokers. By replacing manual checks with digital verification, brokers can save valuable time, reduce errors, and avoid the back-and-forth that often slows down deals. Customers, in turn, benefit from a smoother, more modern experience that is fast, secure and aligns with expectations that is now the norm, not the exception.

Recent industry examples demonstrate how effective this can be. Platforms like Lendela, a loan-matching fintech, have integrated ConnectID® to simplify their onboarding processes. By reducing manual data entry and enhancing data accuracy, Lendela serves as an example of how digital identity solutions can deliver more seamless experiences. This same approach can be extended across the finance and mortgage sectors, helping create more efficient and customer-friendly interactions. Digital identity solutions also address the growing risk associated with handling sensitive personal data. With data breaches regularly making headlines, storing or managing identity documents unnecessarily exposes brokers to risk. Privacy-first solutions ensure brokers can access only the necessary information for verification, without the need to store or manage unnecessary data themselves — minimising risk in the process. This aligns with changing customer expectations and ensures compliance with data protection standards.

For brokers, this is about more than just reducing delays. It’s about building trust at a time when customers are increasingly cautious about where and how their personal information is used. By adopting digital identity solutions, brokers can not only meet compliance requirements and reduce their own risk, but they also create a process that is fast, secure and seamless. In turn, positioning brokers as leaders in delivering client-focused solutions by redefining what it means to provide a modern, trusted financial experience.

Andrew Black is the Managing Director of ConnectID®, an initiative of Australian Payments Plus (AP+). He works closely with Australia’s major banks and industries to deliver identity verification using trusted, reliable data, always with customer consent.

For more information visit https://connectid.com.au/?utm_source=FBAAFeb25&utm_medium=article&utm_campaign=FBAAFeb25_article