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HooYu to boost KYC processes for neobank Muniy

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June 12, 2020

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London-based customer onboarding and KYC RegTech firm, HooYu has partnered with Muniy, a neobank planning its UK launch. The partnership is expected to boost KYC processes for the bank. According to HooYu, it will deliver ID document validation, facial biometric checks, PEPs and Sanctions screening. The checks will be integrated into the customer onboarding process and deliver in real-time for ensuring compliance with AML requirements and accelerate account opening.

Jeremy Suarez, CEO and co-founder at Muniy, said, “Only half of the world has an active bank account, and we want to change that. We want to increase not just the ease of access but also the ease of interaction for financial services. At the same time, we need to guard against financial crime and ensure AML compliance. To do that we’ve teamed up with HooYu so we can verify identity documents from all over the world.”

Recently, London-based mobile cryptocurrency platform, Baanx deployed customer onboarding firm, HooYu’s Identify KYC Journey in a bid to enable the provision of identity verification for the onboarding of new customers.

David Pope, Marketing Director at HooYu, said, “At HooYu we power onboarding and KYC for great challenger banks looking to increase access to financial services and transform banking. The team at Muniy have a great proposition and ideas for how to transform the banking experience not just for consumers but also for merchants and lower transaction processing costs.”

HooYu Identify is a global identity confirmation service that combines 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 cross-references and analyses data from a person’s digital footprint to confirm their real-world identity.

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