HooYu is partnering with Paylink Solutions to help accelerate digital transformation in the lending originations journey.

Paylink Solutions already provides its Embark solution to major high street banks, law firms, debt management companies and mortgage brokers. Specifically, the Embark solution incorporates collections processes and powers lending affordability assessments to support customers struggling with their finances.

After integrating providers such as Experian, TransUnion and Credit Kudos, Paylink Solutions listened to client feedback. This highlighted the need for KYC technology that enhanced the quality of the lending origination journey, enabling faster lending decisions. After a comprehensive review of customer onboarding technology providers, they integrated HooYu.

As a result, Paylink can build customised journeys for brokers and lenders. HooYu has now been integrated into Embark. This triggers the customisable HooYu UI that’s presented to the borrower with a range of KYC steps. These include such liveness detection, facial biometrics, ID document validation, proof of address matching, geolocation and identity confidence scoring.

KYC process: from days to just minutes

The time taken to get a borrower through KYC is reduced from days down to just a few minutes.

Richard Healey, Product Development Director at Paylink Solutions says: “After taking time to understand our clients’ needs, we learnt that there was a need to further digitalise the lending journey, especially when it comes to broker driven lending. Now lenders and brokers can deploy the HooYu journey via Embark to speed the customer through to the decision.”

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David Pope, Marketing Director at HooYu adds: “Many lenders are struggling to build a consistent KYC process across their direct and their broker channels. The Embark and HooYu integration gives lenders the control of the KYC tools that they want to see used for each application and it also makes sure that the lender or broker branding is consistently applied during the KYC journey.”