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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.
Explainer videos
For Lenders
For Brokers
For Sellers
Key features
ID
Verification
Verifies the identity of asset owners or buyers through official Australian Government databases (DVS (Document Verification Service)).
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
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
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
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
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
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
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
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
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 template will allow the inclusion of logos and colours, providing a professional and tailored touch to the reports.
Personalised
Landing Page
Allows users to have their personalised landing page, highlighting their brand identity with their logo.
What can we verify?
Motor Vehicle
Motorcycle
Marine / Boat
Truck / Lorry
Campervan / Motorhome
Caravan
Plant & Equipment
Trailer
Other Assets
Benefits of the Asset Verification
Service to businesses
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.
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.
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
Simply integrate our platforms and services in your products by copying and pasting our iframe solutions.
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
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