A software platform that harnesses smartphone technology to remove the need for face-to face contact in the banking, legal and recruitment sectors is set to double its workforce by the end of the year.
FastDox, based in Handforth Dean, Cheshire, was established only 18 months ago but is already forecasting an increase in turnover by more than 60% to £2.5million.
The business was a success before the coronavirus pandemic, but following the emergence of social distancing and stay-at-home restrictions it really flourished.
It now boasts national debt charity StepChange as one of its marquee clients and plans to double staff numbers by the end of 2021.
Founder Colin Fildes said:
“We are aiming to change the way that transactions are done – addressing the clunky, slow and outdated methods that are used in regulated businesses.
“The platform enables companies to supercharge their processes through smart automation, onboarding customers faster than ever before.”
FastDox, which can be white-labelled for individual clients, was created after some of the financial industry regulators ruled against the use of messaging client WhatsApp.
Standard emails and text messages were also proving frustrating for companies aiming to attract and retain sales leads due to the reliance on the customers signing and returning documents via different platforms.
FastDox works by sending a text message which then transfers customers via a simple link to an online portal.
They can then carry out all necessary tasks using just their mobile phone – legally identifying themselves via the selfie camera and taking pictures of any documents required.
The company can send tailored reminders to ensure leads are not lost.
Mr Fildes added:
“We have 150 corporate clients in the recruitment, insurance, claims management, financial services, property and legal sectors.
“The software also allows those in the financial services business to carry out the regulatory requirement of annually checking with customers if their circumstances have changed.”
Features available include digital document collection, ID verification, credit searches, appointment scheduling, e-signature, global anti-money laundering (AML) checks and open banking.
Clients already using FastDox include insolvency specialist Hanover Insolvency, Manchester payment solutions provider Total Processing, London-based property experts We Buy Any Home, car finance providers Octane Finance Ltd and commercial real estate agents Lambert Smith Hampton, as well as StepChange.
The company has also expanded into the North American market where it’s already seen encouraging adoption and grown the business 10-fold during the pandemic.
Mr Fildes said:
“We’ve had clients tell us that their conversion rates have increased by up to 90% within a week of starting to use the FastDox platform.
“We want their staff to be focused on driving profit and improving their business performance, not shuffling papers and playing telephone tennis.
“FastDox breaks the chain of endless amounts of phone calls, document chasing and email answering by automating tedious and time-consuming admin tasks.”
https://fastdox.co.uk/