Broker platform expands yet further

by Madison Utley20 May 2020

Australia’s only automated second-hand asset finance verifier has announced the integration of commercial assets into its platform.   

Verimoto's update automates the process of verifying credentials and asset condition, from finance business equipment to plant machinery, enabling brokers to provide even better service to their commercial customers and eliminating the need to set up site visits and inspections. 

“With Verimoto, brokers can now verify a variety of second-hand assets, from cars and boats to tractors and trucks to coffee machines and business equipment,” said Peter Hewett, CEO of Verimoto. 

“We want to make it as easy as possible for brokers to verify these assets without having to set up inspections. And, without having to continue to chase for documentation.  

“In today’s environment, being able to conduct inspections virtually has never been more important. It speeds up the process and enables brokers to continue to operate as normal, even while social distancing measures are in place.” 

Verimoto enables sellers to easily upload required documentation to meet lending criteria for commercial assets, including HIN and serial numbers, through a smartphone app where the details are then verified against corresponding databases. 

Further, the condition of the asset can be conveyed through the smartphone camera, thus removing the need for physical inspections and therefore digitising the entire process.  

The newly-included commercial assets include machinery such as excavators, forklifts, bobcats, bulldozers, tractors, trucks to business equipment, such as coffee machines, IT equipment or infrastructure, generators and renewable energy.  

According to Verimoto, several lenders have already signed up to the platform to enable their brokers to meet application requirements quickly, efficiently and competitively.