Are you ready for Right to Rent? webinar slides
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We work within the property sector for both leading UK estate agents and tenant referencing companies and have one of the UK’s largest databases of screening information available. Our due diligence platform runs checks on people, companies and ID documents in real-time. Contego can deliver detailed reports on tenants, landlords, buyers and sellers. These slides will focus on Right to Rent legislation, the increasing challenges new legislation will create and the solution. The slides will demonstrate how to: 1. Automate Right to Rent checks 2. Meet compliance requirements quickly and efficiently 3. Streamline customer on-boarding processes 4. Generate and store document results, providing a full audit trail
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Are you ready for Right to Rent? webinar slides
- 1. Right to Rent Webinar Richard Ingles, Head of Client Development Welcome!
- 2. • The Immigration Act 2014 introduced wide reaching and unprecedented obligations upon Landlords. Original pilot launched in December 2014 in the West Midlands. • The Immigration Bill 2015/16 rolled out formally on 1st February 2016 and contained a proposal to broaden liability for non-compliance of Right to Rent – maximum penalty up to 5 years in prison and/or fine • Recent events: • Mar 2016: Airline Ryanair won a civil court case after appealing against fines imposed by the Home Office for carrying illegal immigrants into the UK • RLA demand changes to the Government’s Right to Rent legislation • Mar 2016: RLA campaign succeeded. Landlords will no longer be immediately criminalised for failing to pick up illegal tenants. The law and the challenges
- 3. • Right to Rent checks are manual Software automates the process • Right to Rent checks take time Software streamlines on-boarding processes • Letting agents are not document experts Software allows you to meet compliance requirements quickly and efficiently • Documents need to be stored and date of check recorded Software offers a full audit trail with secure storage of all ID documents Software as the solution
- 4. • Contego is a due diligence platform that checks people, companies and ID documents in real-time. • We are not a data provider but a technology solution • We source data from a wide range of suppliers, including law enforcement • We access more data in one single-point solution than any single supplier What is Contego? • We work within the UK property sector for leading UK estate agents and the tenant referencing industry. Key clients include:
- 5. • User inputs name (first name, last name) into the platform, uploads ID documents (scanned image), then clicks “Check Person” • Contego delivers a Pass/Fail result, creates a transaction history, and data is stored securely within the console • Access to Contego via User Interface, or an API connection for high volumes How does it work?
- 6. • Passports • National ID cards • Visas • Biometric residence permits (BRPs) What documents can we process?
- 7. What information do we capture?
- 8. • Our online application is available 24/7, and has unlimited cloud storage to store your tenants’ documents • Complete audit trail by user and by transaction, to assist internal audit and compliance processes • Data security. End-to-end encryption protects all data and all sensitive data is stored in encrypted form Full audit trail and document storage
- 9. Contego full property solution Tenant ID checks “Right to Rent” House Buyer ID checks Sanctions House Seller Full AML KYC Landlord ID checks Etc.
- 10. • Automate Right to Rent checks • Meet compliance requirements quickly and efficiently • Streamline customer on-boarding processes • Generate and store document results, providing a full audit trail Summary
- 11. Q & A Please type your questions to the chat window at the side. We will do our best to answer them all
- 12. THANK YOU FOR LISTENING! +44 (0) 1235 375 000 richard@contego.com
Editor's Notes
- Welcome to Contego’s RTR webinar I’m Richard Ingles In terms of how the webinar will work, I’m going to go through a few PP slides to explain some background, how the solution works, and then we’ll run some live checks on the platform. If anyone wants to ask a question please put your hand up and submit a question through the Chat facility, and hopefully we’ll have some time to address these at the end
- Let’s clarify some dates regarding changes to Immigration law. The Immigration Act 2014 introduced far-reaching and unprecedented obligations on the property sector, specifically landlords and letting agents. The original pilot was introduced in December 2014 but only applied in 5 areas of the West Midlands, and after little if any consultation the Immigration Bill of 2015/16 was rolled out formally by the government on 1st February this year. It is live now, the law has changed and the penalties for non-compliance are stiff, with maximum penalties of up to 5 years in prison. Since then there has been significant controversy within the media and the industry generally. Even in the last month there have been regular news stories, the Ryanair story, and the industry demanding changes to the law. It was a certainly a hot topic at the recent NAEA conference in London. The changes in law provide several challenges to the industry: Landlords generally will be will be turning to their letting agents for guidance There are stiff fines of up to £3,000 per tenant for non-compliance Volume of information published on legislation, the complexity of immigration laws and the sheer variety of documents Risk of unlawfully discriminating against tenants Manual document checks are slow and time-consuming And there’s risk of reputational damage
- The Contego solution responds to these changes. Right to Rent checks are currently manual and consume a lot of time. We automate the process, delivering a real-time result (generally 30 seconds) after a document has been submitted. This allows you to streamline your tenant onboarding process. Letting agents/sales negotiators are not document experts! We take away some of this pain. I’ll take you through the document verification process in more detail, but we hold templates of 3,500+ documents on the system, so when you submit a document you can have confidence that thorough checks are done. We check against templates, we run algorithmic checks on the machine readable zone, and we check against law enforcement data. We have already identified numerous counterfeit and fraudulent documents on behalf of our clients. We allow you to mitigate risk and meet your compliance requirements quickly and efficiently. Finally, a key part of the legislation requires that the date of document checks are recorded, and copies of documents taken and stored. Contego offers a full audit trail, so you can access full details of a check within the console and ID documents are securely stored and fully encrypted.
- Firstly, let me introduce Contego and what we do. We are a due diligence platform, we check people, companies and ID documents. We are a high-growth, early stage, investment-backed business. We are a technology solution rather than a data provider, and what we have created is a single-point solution, aggregating lots of different data sources and services. We have integrated best of breed data sets, including Experian and Equifax, and law enforcement data, but the key element that we will take you through today is the document verification process. We work within numerous industry sectors, including serviced offices, pre-employment screening, property and financial services, particularly fintech. We already work within the property sector for leading UK estate agents and the tenant referencing industry.
- Access to Contego: Small volume, UI High volumes API connection Let’s take you through the process. It’s very simple. User inputs name (first name, last name) into the platform, uploads ID documents (scanned image), then clicks “Check Person” Contego delivers a Pass/Fail result, creates a transaction history, and data is stored securely within the console
- In running a check we extract all of the key data from the passport, name, DOB, document number etc. We run checks on the MRZ and we check against UK law enforcement data.
- Once a check has been completed this automatically creates a transaction record within the Contego console, giving you a full record of what documents were checked, at what time and date, and expiry dates of documents are also recorded. We’ll show you more detail when we look at the platform shortly.
- Our work within the property sector doesn’t just focus on ID document verification and Right to Rent checks. This slide gives an overview of what we are doing for some of the leading UK estate agents. Whether you are looking at the lettings side of the business, or house purchase and sale we can conduct various due diligence checks.