Lending & Financial Services
Fast, secure loan applications with built-in KYC
⚠️ The Challenge
Lenders face lengthy approval times, high fraud rates, and manual KYC/AML compliance processes. Slow document verification creates customer drop-off, whilst missed fraud detection leads to losses. Regulatory penalties loom for inadequate identity and income verification.
The Solution
Integrate Cleared API directly into your loan application workflow
Customer applies for loan on your platform
Your backend calls Cleared API to initiate verification
System automatically looks up customer by tax number/email (no duplicate accounts)
Customer receives SMS/email with verification link
AI processes documents in real-time with biometric matching
Your system receives webhook when verification completes
Decision engine uses verified data for instant approval
Complete Workflow
Products & Services Used
Code Example
// Initiate loan application verification
const response = await axios.post(
'https://cleared.id/api/v1/merchant/identity/verification/initiate',
{
name: 'John Smith',
emailAddress: 'john@example.com',
trn: '123-456-789',
verificationRequests: [
{ type: 'identity', required: true },
{ type: 'address', required: true },
{ type: 'income', required: true }
],
expiration: {
expiresAt: new Date(Date.now() + 48 * 60 * 60 * 1000).toISOString()
}
},
{
headers: {
'Authorization': `Bearer ${process.env.CLEARED_API_KEY}`,
'Content-Type': 'application/json'
}
}
);
console.log('Request ID:', response.data.requestId);Real-World Example
Digital Lender
A lender integrates Cleared API into their platform. When a customer applies, the system automatically initiates identity, address, and income verification. AI analyses payslips and bank statements, eliminating manual review for most applications.
- Reduce approval time from days to minutes
- Significantly reduce fraudulent applications
- Majority of applications auto-approved
- Improve customer satisfaction scores