Leading identity confirmation provider HooYu has partnered with UK challenger bank Countingup to verify customer identity and help maximise success rates in the customer account opening process.
Countingup aims to launch in early 2018 as a combined banking and accounting proposition targeting the UK’s 4.2 million entrepreneurs.
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The Countingup app will help owners with accounting, VAT returns, profit and loss reports, invoicing and machine learning book-keeping technology.
Customers will be able to open a current account on their smartphone in just 5 minutes. The account comes with a UK sort code & account number and a contactless MasterCard.
HooYu was chosen by Countingup to be deployed during the account opening process to prove that customers are who they say they are and ensure compliance with money laundering regulations.
Countingup selected HooYu due to the broad range of HooYu identity technologies such as identity database checks, ID document validation, facial biometrics, PEPS and Sanctions screening, digital footprint analysis and proof of address checks.
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By GlobalDataTim Fouracre, CEO at Countingup commented, “It was important to us to design the account opening process to make it as easy as possible to open an account in less than five minutes. HooYu helps us not just to comply with money laundering regulations and to prevent fraud but also helps us to curate a great digital journey that makes for easy and convenient account opening.”
David Pope, marketing director at HooYu, added: “Countingup is a truly differentiated offering from a challenger bank, in that it is offering more than just a bank account but the tools to help their customers manage and grow their business.”
