of customers successfully verified first-time
for Propflo customers to get verified using Onfido.
Propflo encourages users to ‘claim their property’ and establish a digital twin of their home. Once a homeowner has claimed their property, they can track risks, store key documents, and even sell their home faster—all through the Propflo platform.
With ambitious revenue targets, Propflo is looking to rapidly scale its user base. We caught up with Luke Loveridge, CEO and cofounder of Propflo, to discuss their recent success.
Luke Loveridge, Founder and CEO, Propflo
Trust is essential to the Propflo platform. If someone is inaccurately verified, other users are at risk of being misinformed about a property. Since a house is usually the largest investment a person will make in their lifetime, having correct property data is essential. Trust ultimately impacts brand perception, causing an increase or decrease in new customers on the platform.
Equally, the Propflo team did not want to introduce manual blockers in the verification process, and opted instead for an automated approach to identity verification. Having a cost-effective, quick, and accurate process was key to scaling.
As a newer business, Propflo did not have a process for identity verification, and needed to build one from scratch. The team assessed multiple partners but ultimately chose Onfido for the following reasons:
- Comprehensive documentation in Onfido’s developer hub, enabling the Propflo team to implement Onfido's identity verification suite seamlessly into their platform within hours, not weeks.
- Round-the-clock support from Onfido, giving Propflo confidence that both their business and their customers are in safe hands.
- Reliable and accurate results, helping Propflo trust their customers without compromising on ease-of-use of their platform.
Propflo is using Onfido’s Real Identity Platform to verify customers adding data on their property within the platform. Before a customer can add data, they are asked to take a photo of their government-issued document and a selfie, which Onfido assesses in moments for signs of fraud.
For Propflo, top of mind is ensuring that not only do they establish trust in customers on their platform, but they also do so without compromising on the experience. Onfido is helping Propflo to achieve these goals, successfully verifying 90% of customers first-time, with results returned in under three minutes. Beyond the numbers, Propflo is seeing the following benefits:
Growing their user base with confidence in the integrity of their platform. Having a reliable identity verification vendor helps build trust with customers, a key metric to help drive long-term sustainable growth. “For us, reputation is everything. Onfido gives us confidence that users on our platform are real and the data being shared is correct,” shared Loveridge.
Scaling their operations while reducing acquisition costs. Using automated verification powered by Onfido’s AI, Propflo is able to verify more customers faster than they ever could using in-house teams, and at a fraction of the cost. "Using Onfido has added trust to our brand and simplified the verification process for our users,” explains Loveridge. “As we scale, identity verification is one less thing I need to worry about."
The Propflo team is preparing to open their platform to users outside of the UK, becoming the global solution for homeowners looking to get more transparent insight into their properties. Onfido is a key partner on this journey, helping Propflo scale while continuing to set themselves apart as the most trusted service on the market.
Luke Loveridge, Founder and CEO, Propflo
Each year, about 25% of property transactions in the United Kingdom fall through, costing about a billion pounds. Propflo, a property data platform, is looking to reduce this fall-through rate by providing housing data to users that helps give transparency earlier in the buying process. While only being live for just over a year, Propflo has managed to get over 1 million impressions on its platform.