London-based EasyMoney has partnered with identity security company HooYu to verify its customers and improve user experience.
EasyMoney has launched a range of ISAs that contain peer-to-peer (P2P) loans where lenders are matched online with borrowers. This cuts out the banks and allows them to offer substantially higher interest than currently available via traditional ISAs.
Following the launch, the company has picked HooYu’s tech to be implemented throughout the investors’ account opening process and to ensure AML compliance. It said it selected HooYu Identify due to its ‘unique blend technologies’ that help streamline the investors account opening experience.
Andrew de Candole CEO for easyMoney, said: “Just as easyJet revolutionised European air travel 23 years ago, easyMoney is looking to shake up the ISA market. It aims to make quality financial products more accessible to everyone. One part of making these products accessible as possible is by making sure we can onboard customers as easily as possible with minimal friction, HooYu Identify enables us to do this.”
HooYu Identify is a global identity confirmation service that blends and combine multiple identity technologies including social media and digital footprint analysis, identity document authentication, facial biometrics, database checks and PEPS and Sanctions watchlist checks to confirm identity.
It also cross-references and analyses data from a person’s digital footprint to confirm their real-world identity. HooYu also extracts and verifies data from ID documents at the same time as authenticating the ID document and conducting a biometric facial check comparing a selfie of the customer with the facial image on their ID document.
David Pope, marketing director at HooYu, added: “EasyMoney is shaking up the investment market and at HooYu we pride ourselves with providing a truly innovative identity confirmation service. HooYu Identify is the first identity platform to combine and blend new identity technologies such as digital footprint analysis, online ID document validation and facial biometrics with traditional database checks and PEPS and Sanctions screening.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
