HooYu to digitalise lending onboarding journey for Paylink Solutions

By Megha Bhattacharya

UK-based Paylink Solutions has teamed up with customer onboarding specialist HooYu for digitalising its lending onboarding journey. The collaboration aims to facilitate faster decisions for Paylink’s broker and lender clients.

Richard Healey, Product Development Director at Paylink Solutions said, “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.”

HooYu leverages KYC technology for enabling clients to confirm the identity of their customers in a compliant manner. The company has developed customised journeys for brokers and lenders and has now been integrated into Embark. The technology triggers customisable HooYu UI that’s presented to borrowers with a range of KYC steps such as liveness detection, facial biometrics, ID document validation, proof of address matching, geolocation and identity confidence scoring.

David Pope, Marketing Director at HooYu said, “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.”

Recently, London-based customer onboarding and KYC RegTech firm, HooYu 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.