Nivo is a Manchester-based instant messaging and identity verification platform. This disruptive fintech startup is Barclays Bank’s first technology spin-out and the only instant messaging network that banks use for transactional and sensitive conversations.
This UK-based fintech startup offers the fastest and safest way for financial companies to sign up and serve their customers. It is designed to prevent consumers from having to call financial service providers such as lenders, banks, utility, telecoms and healthcare providers.
Recent funding of €2.3M
In a recent development, Nivo has raised £2 million (approximately €2.3 million) funding. This funding round was led by GP Bullhound, the Angel CoFund and a consortium of angel investors.
Also, leading tech entrepreneurs in the UK including Elizabeth Gooch, founder of process optimisation technology firm EG Solutions will join the board of Nivo. The other investors include Scott Fletcher, founder and chairman of cloud computing group ANS, Paul Gouge and Alex Rigby, founders of leading mobile games company Playdemic and Rodney Baker-Bates, Chairman of the Willis Group.
This investment will be used to accelerate growth and innovative products. This way, the company can strengthen its position in the market.
Barclays Bank spin out
The fintech startup was launched in 2017 as an early stage spin-out from Barclays Bank. It is already being used by large banks, lenders, lending brokers, credit unions and other professional services offering financial services.
Secure instant messaging platform
The secure instant messaging platform of Nivo includes advanced data protection features. The services in the regulated industries use this platform to connect with customers, gather personal information, verify identities and complete transactions easily using mobile technology.
The platform features Onfido identification verification checks, the ability to open banking, electronic signatures and send and receive files and photos securely. Interestingly, all these can be done via instant messaging.
Flexibility and easy of use
Besides its features, the instant messaging platform banks offers flexibility and unparalleled ease of set up. It enables e2e customer sign-ups and easy set up at a monthly subscription cost. Clients have stated that the signup process that used to take six weeks has been reduced to as low as 15 minutes with the Nivo instant messaging and verification platform.
Massive user base
Ever since its launch, Nivo has enabled over £20 million (approximately €23 million) loans to be written by services using its platform and has connected with more than 30,000 customers. The company aims to make the latest and best financial technologies available to everyone. Its platform is free to get started without any technical effort.
Nivo lets service providers in the regulated industry join its network easily within a few minutes without an upfront cost or technical expertise. This way, the firm lets any brand offer high-quality digital experience that is usually expensive.
Nivo CEO Mike Common comments: “Our mission is to make it easier for consumers to connect with service providers in regulated industries like Financial Services. Our clients are using Nivo to deliver simpler mobile experiences, which reduce effort and empower customers. This means everyone saves time, costs go down and satisfaction goes up.”
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