At Verimoto, we take the protection of your personal and confidential information very seriously. We appreciate that in this day and age with so much cybercrime and identity theft that you may have concerns about sharing your information with a broker or lender via Verimoto, so we have implemented state of the art security technology and best practices to keep your personal information secure. Reduction of fraud is one of the core reasons we worked with a major lender to develop Verimoto in the first place!
Arranging finance to buy your asset is a complicated matter. The person who would like to buy your asset must provide a lot of information to their broker/lender to give them comfort that the asset exists and you have the right to sell it. Before Verimoto, this would require a physical inspection of your asset, which could take days to arrange and requires you to fit in with the schedule of the inspector. You would be asked to provide the same information to that inspector who may have no security protocols for how to collect, manage, and deliver your information to the broker/lender. It could be floating around on their phone or laptop forever.
Verimoto avoids this risk. It has passed all the security and compliance issues specified by major lenders, so it is as secure as working directly with those lenders. To be boring for a moment, Verimoto is SOC 2 Type 2 and PCI DSS compliant. That should give you comfort that we will protect your personal information and not use it in any way that should concern you. What’s more, our web app is built using the latest web security technology from Quixxi Security.
If you want further comfort, read on…
It’s safe to use Verimoto
We appreciate that you may have concerns about the information you are sharing with Verimoto, so we have implemented state of the art security technology and best practices to keep your information safe and secure: -
A secure web app
The app itself is hardened and includes features that make it extremely difficult for it to be reverse engineered or hacked. We use multiple techniques to harden the app, and we prioritize security measures such as preventing screen capture. We ensure that your information remains protected even when the app is not in the foreground by blurring images.
Encrypted at rest, in transit, and in the cloud
All images and information you record using the Verimoto web app are stored encrypted on your device and cannot be accessed by other apps. Once you submit the inspection, we delete all the encrypted images and information from your device. Information sent to our cloud servers is encrypted both in transit and in the cloud.
Our cloud platform is hosted wholly in Australia on Microsoft’s Azure Cloud platform. Microsoft maintains a high standard of platform security and complies with all the necessary industry certifications and requirements of our lenders.
Our operations platform then checks the data to ensure we have everything required, and if we need replacement images from you – we request them via secured communication direct to your phone (notifications). Once we have everything we need, the information is encrypted and made available to the finance broker and/or the Lender that requested the inspection. Once it is supplied to the Lender/Broker who requested it, we delete it from the Verimoto servers.
Once an inspection report is granted, the customer documents are purged from the system after 7 days with automated purge web jobs. This ensures that your information is retained for a limited period as necessary but is then permanently removed from our servers.
Best security practices
Verimoto is a SOC 2 certified business. Not only is this a requirement from our lenders, but it is also good business practice. SOC 2 requires us to build our platform in a secure way, implement the principle of Least Privilege, use 2-factor authentication, and regularly audit our platforms, conduct external penetration testing, and review logs to assess risks on a regular basis.
Getting further information or lodging a concern
Part of our SOC 2 requirements is to ensure customers have a way to notify us if they see something wrong or have any concerns about the way we handle their information. If you have noticed something unusual, we want to know about it. Please get in touch via the Contact Us button below or our Contact page.
Who is Verimoto?
We’re an Australian company, located in Manly, NSW, and we'd love to connect. Check us out on LinkedIn and feel free to connect with the team.
Thanks for using Verimoto.