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Funding 365 Rescues Deal with Innovative Thirdfort Software
Funding 365 has saved an unusual commercial bridging deal by employing client onboarding software provided by Thirdfort. The £195,000 bridging loan secured against offices and retail space in the East Midlands was for a corporate borrower with a major shareholder who was sailing a yacht off the coast of Australia.
The innovative technology, which Funding 365 has integrated into its underwriting processes, enabled the lender to complete remote, rapid and secure know your customer (KYC), anti-money laundering (AML) and fraud prevention checks on the seafaring shareholder to allow a swift completion of the loan.
The intuitive application utilises digital ID checks, facial recognition technology, PEPs and Sanctions screenings and document authentication scans, as well as checks on borrower’s bank accounts facilitated by Open Banking.
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