As you near the end of your credit application as an owner, officer or signatory, the final step is to sign and submit it. You'll need to provide a few signatures to verify your information. This article will guide you through why this verification is necessary and what it entails.
Why do I need to verify?
To protect you and your trading partners from fraud, Nuvo verifies the identities of owners, officers and signatories to ensure that everyone involved in transactions is legitimate and authorized. This safeguards the integrity and security of the trading process, enabling:
Faster approval process: Reducing the time and effort your supplier needs to spend on fraud prevention, allowing you to begin business operations sooner.
Protection against impersonation: Helping to secure your company profile.
How does verification work?
Nuvo matches the information you enter against authoritative databases like the IRS, DMV, and voting registries to verify your identity.
Once you have been verified, suppliers will see your verification status as a blue checkmark:
If you skip or fail to complete the verification process, potential suppliers will see that you are unverified. This may result in a longer review and approval time for your application. Additionally, during their review process, suppliers might ask you to go back and complete the verification before they approve your application.
What do I do if I failed verification?
If you're unsure why your verification failed despite entering the correct information, you can try the following common fixes to resolve the issue.
Name Format
Your name must match what is found in official government databases, so make sure to do the following:
Enter your full name (e.g. “Johnathan” not “John”)
Enter your name in the order as it appears on any official documents or in databases (e.g. “Yuna Kim” vs. “Kim Yuna”)
Address
If your address has changed, it is possible that it may not show up in the databases used for verification.
Try entering a previous address instead
Date of Birth
Double-check that you have entered your date of birth correctly:
Mistyping the day, month, or year can lead to a mismatch during verification.
Update Your Information
If there have been recent changes to your personal details:
Update your information with the relevant authorities to ensure all databases are current.
For further assistance, please contact support@nuvo.com or engage with our live chat support, available at the bottom-right of your screen.