InfoTrackID is our new provider for digital customer identity verifications

Starting from Monday 2 June, we will transition from using IDyou to InfoTrackID where digital customer identity verification (VOI and KYC) is completed. This change aims to enhance the security and efficiency of the verification process for both you and customers.

You will be able to verify a customer’s identity using one of the following methods:

• In-person verification of identity (unchanged from current process).
• InfoTrackID ‘In Person’ Report.
• InfoTrackID ‘Remote (Video Call)’ Report.
• Australia Post (no change).

Why we’re making this change

InfoTrackID includes three new in-built fraud mitigation measures:

1. Facial biometrics is utilised in the video call to ensure a real person is performing InfoTrackID, preventing impersonation attempts.
2. Optical Character Recognition (OCR) which pre-populates data fields.
3. Document Verification System (DVS) to confirm authenticity of the ID by checking against the original record.

As a broker, you’ll also enjoy a smoother experience with new alerts when there’s an expired driver license or Australian passport over two years old. These improvements minimise errors and ensures we remain compliant – making your verification process faster, safer and simpler.

Note: Please give your customers a heads up that they will receive an email addressed from ‘National Australia Bank’, which will contain the link for them to access InfoTrackID.

Your access to InfoTrackID

We’re making this transition as seamless as possible for you, and you don’t need to sign up for anything new. Your IDyou account will be automatically provisioned for InfoTrackID, and you’ll receive a welcome email with your unique login details.

• Current requests: If you have any VOI requests currently in progress, you’ll have a two-week window to complete them in IDyou. We recommend finalising any outstanding requests before the switch if possible.
• New requests: All new VOI requests must be completed through InfoTrackID. Advantedge will no longer appear under ‘VOI rules’ in IDyou.

You can refer to the below table to help you navigate through this change:

Simple construction loans, backed by exceptional service

While building a home can offer many exciting possibilities, it can present just as many challenges. Our construction loan product is designed to make the process as simple and stress-free as possible for you and your customers.

Initial 2-year Interest Only (IO) period

We offer a 2-year initial IO period for all Connective Essentials construction loans. This gives customers more time to complete their construction, without having to apply for an extension in the event of any unexpected delays.

Got a customer building a granny flat? Customers may be able to apply for a construction loan to build a Granny Flat if there’s a main residence already existing on the premises. If you’d like to know more, please get in touch!

What happens after construction is completed?

With the process having been digitised, construction loans will continue to automatically convert to Principal & Interest (P&I) once construction is complete, or when the 2-year IO period has expired – whichever comes first.

What if the IO period expires before construction is finished?

If the 2-year IO period expires prior to the construction being completed, the loan will revert to a P&I loan.

The IO period may be extended for up to another 12-months if necessary. This can be requested as per the current IO extension process. Construction must not exceed 36 months.

Reminder to verify uncertain income in the new financial year

As the new financial year ticks over, customers may need to provide other income verification given that payslips issued after 30 June won’t show the last 180 days YTD information.

Please support customers in making sure they can supply additional documents that support the last 180 days.

Let’s chat