A identity checking smartphone app has been launched that will remove the need for agents and landlords to manually verity a tenant or property buyer’s identification, and could help reduce the admin required for Right to Rent and Anti Money Laundering compliance.
Yoti, which was launched last night in central London, has many applications but one of its key uses will be to enable landlords and agent to check tenants and property buyers and sellers identities more easily.
The app, which is available on Android and Apple phones, requires users to jump through several identity-proving hoops.
It also claims to have applications far beyond property including safer online dating, more secure age verification for pubs, off licences and supermarket, to prevent fraud, holiday rental scams and online shopping.
First set up in 2014, Yoti has approximately £23m in funding behind it provided by two of its founders – British businessmen Noel Hayden and Robin Tombs – and uses biometric information including face recognition and finger print identification to provide people – and businesses – with a way to provide and access sensitive information without a password or user name.
It calls itself an ‘identity platform’ and its main thrust is to make it quicker, easier and safer for individuals and organisations to verify who people are both in person and online
The app is free for people to download and use, but YOTI says it will charge sales and letting agents 30p to verify a person’s identity.
“As we live more of our lives online, the way we prove who we are is outdated. It’s too easy for people to pretend they’re someone else, or gain access to all of our personal details,” says CEO of Yoti Robin Tombs (picture, left, at the launch).
This is shown by the continued rise of identity related fraud and issues that cost time, money and inconvenience to many people every day.”
“Yoti makes it faster, simpler and safer for people and businesses to prove identities and know who they’re dealing with. We want to build trust and transparency in the personal information people share – making it safer to get stuff done and do the things we love, via a secure platform”