Asset Verification

Validate vendors and any asset within 30 minutes.

What does it do?

Asset Verification, formerly Verimoto, is designed to assist businesses and individuals in
verifying the authenticity of assets and their sellers before proceeding with any transaction.

Enter asset owner’s contact details. Owner will use their smartphone to verify their identity. Owner captures images of the asset using their smartphone. Owner receives text with a unique auth token and a link to the platform. A report will be generated with all the details, images and verification results. All images and other information will be automatically verified. 1 2 3 4 5 6

Key features

ID Verification

ID
Verification

Verifies the identity of asset owners or buyers through official Australian Government databases (DVS (Document Verification Service)).

Number Plate Capture & OCR

Number Plate
Capture & OCR

Extracts number plate details from the vehicle pictures to fast-track process and reduce human errors.

Driver Licence or Passport Capture & OCR

Driver Licence or
Passport Capture & OCR

Extracts information from ID documents provided by the seller or buyer to fast track the process and to reduce human errors.

VIN / HIN Capture & OCR

VIN / HIN
Capture & OCR

Extracts information from the vehicle photos and validates the VIN/HIN number against added documents such as registration papers/renewal notice to fast track the verification process and reduce human input error.

Biometric Face Recognition and Liveness

Biometric Face Recognition and Liveness

Utilises facial recognition technology together with liveness for secure identity verification. Adds an extra layer of trust and prevents impersonation with a simple smile.

Asset Detail & Photos

Asset Detail
& Photos

Captures asset photos from all sides to help verify asset’s condition ensuring the integrity and transparency. It also serves as evidence of the asset’s condition at a specific point in time.

Location & Timestamp Flags

Location &
Timestamp Flags

Captures asset location and timestamp details for cross-referencing with the details provided during the verification, creating a robust defence against GPS spoofing.

Funds Destination Verification

Funds Destination
Verification

To prevent errors or fraud, the system cross-references the seller’s provided name and address with the bank statement associated with the given account. We also have the option to cross reference this information with CDR (Consumer Data Right) data to ensure higher level of verification.

Proof of Ownership

Proof of
Ownership

Cross-references ownership details with different document collected and verifies against the official records to ensure legitimate seller and asset. Validates the asset’s legal owner to reduce fraudulent activities.

PPSR Check

PPSR
Check

Verifies security interests, theft, and write-off status. Ensures accurate vehicle details such as make, model, colour, year, engine number, body type, and vehicle type.

Customisable Report Templates

Customisable
Report Templates

Customisable report template will allow the inclusion of logos and colours, providing a professional and tailored touch to the reports.

Personalised Landing Page

Personalised
Landing Page

Allows users to have their personalised landing page, highlighting their brand identity with their logo.

What can we verify?

Motor Vehicle

Motor Vehicle

Motorcycle

Motorcycle

Marine / Boat

Marine / Boat

Truck / Lorry

Truck / Lorry

Campervan / Motorhome

Campervan / Motorhome

Caravan

Caravan

Plant & Equipment

Plant & Equipment

Trailer

Trailer

Other Assets

Other Assets

Benefits of the Asset Verification
Service to businesses

Quicker

Quicker

Asset Verification significantly reduces verification time from 1-3 days to under 30 minutes. This considerable decrease is accomplished by minimising manual tasks, thereby improving efficiency and accuracy in the verification process.

Cost-Effective

Achieves up to 80% cost reduction compared to traditional manual verification processes.

By automating and streamlining data collection, verification, and the physical inspection and identity verification of the asset and asset owners or buyers, the platform significantly minimises the labour-intensive and time-consuming tasks typically involved.

Cost-Effective
Fraud Mitigation

Fraud Mitigation

Our streamlined verification process reduces the risk of fraud by 97%, ensuring individuals and businesses can make informed decisions with confidence.

By meticulously processing and verifying information, our system uncovers hidden risks and false identities, safeguarding commercial interests and providing a layer of protection that is critical in today's digital and financial landscapes.

Enhanced Efficiency

Designed with scalability and integration in mind, our platform ensures seamless adaptation to your business needs, enabling automatic scaling without manual intervention and API access out of the box.

This allows our clients to concentrate fully on their core business activities, with the assurance that the platform will effortlessly integrate, grow and adjust in alignment with their evolving demands.

Enhanced Efficiency
Data Security and Compliance

Data Security and Compliance

Our platform offers customisable data security and location settings, including specific country storage for compliance and options like IP restrictions and end-to-end encryption for superior protection.

This flexibility ensures both robust security against unauthorised access and adherence to regional legal standards, streamlining compliance effortlessly.

Available in:

Iframe

Iframe

Simply integrate our platforms and services in your products by copying and pasting our iframe solutions.

API

API

Our API is the quickest way to connect with our services to get the most out of your business needs and maximise your business results.

Custom Integration

Custom Integration

Our platform and services are customisable to your business needs, thanks to our modularised architecture.

To know more about this product,
please visit the Help page