Nivo has revealed that more than five million messages have now been sent and received using its secure instant messaging service
It projects growth to reach 10 million well the end of the year with message volumes now exceeding half a million every month.
Nivo recorded over 4.1 million messages exchanged between lenders, brokers, borrowers and lawyers in 2020, a 352% increase on the 0.9 million messages exchanged in 2019. The message count excludes a significant volume of ‘Nivobots’ sent and received on the network, which allows institutions to automate processes, product journeys and information gathering, including ID verification and document transfers.
In addition to the significant increase in secure message traffic, Nivo saw a nearly ten-fold year on year increase in document transfers via its network. In 2019 Nivo users completed 5,700 document requests but in 2020 this had increased to over 55,000.
Michael Common, CEO of Nivo, said: “Passing the five million message milestone is a significant achievement for Nivo and the huge increase in secure message traffic demonstrates how the adoption of FinTech has grown during the last 12 months.
“The restrictions to normal business operations and practices created by the pandemic and subsequent lockdowns have undoubtedly accelerated the rate of change as lenders and brokers had to find new ways of remaining operational when travel and meeting became difficult. However, what our clients have found is that even when the pandemic restrictions were lifted or relaxed, the benefits of using the Nivo Network for secure communication and document transfer remained just as evident. The application process is quicker, smoother, more secure and the efficiencies enable lenders and brokers to reassign manpower to areas which deliver greater benefit to the customer and the business.
“2021 will be another exciting year for Nivo. We have some new clients about to join us which will add a substantial number of new users to the Nivo Network and I’m certain we will be passing the 10 million message milestone before the year is out.”