HooYu implemented to enable faster decisions for brokers and lenders
London, November 25th – Leading KYC and customer onboarding specialist, HooYu, today announced a partnership 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 for collections processes and to power lending affordability assessments.
After integrating providers such as Experian, TransUnion and Credit Kudos, they listened to client feedback that pointed to the need for KYC technology that enhanced the quality of the lending origination journey and enabled faster lending decisions. After a comprehensive review of customer onboarding technology providers, they integrated HooYu so that they could build customised journeys for brokers and lenders.
HooYu has now been integrated into Embark which triggers customisable HooYu UI that’s presented to the borrower with a range of KYC steps such as liveness detection, facial biometrics, ID document validation, proof of address matching, geolocation and identity confidence scoring.
The time taken to get a borrower through KYC will now be reduced from a process that could take place over days down to a smooth digital journey that takes just a few minutes.
Paylink Solutions is a leading financial services technology provider that works with banks and building societies to deliver digital affordability solutions to support customers struggling with their finances.
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.”
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.”
About Paylink Solutions
Paylink Solutions is a leading financial services technology provider that works with banks and building societies to deliver digital affordability solutions to support customers struggling with their finances.
Paylink Solutions uses data, technology and experience to help clients better connect with customers; increasing understanding, engagement and positive outcomes.
Part of the Totemic Group of companies, Paylink Solutions has grown from an in-house systems provider to delivering secure and reliable on-boarding and collections solutions across a range of financial services.
Originally developed for their sister company PayPlan, the software is now used by a number of major high street banks, debt management companies and mortgage brokers, dealing with thousands of customers every day.
About HooYu
HooYu is a global customer on-boarding platform that provides UI & UX tools to deliver customised mobile or desktop digital journeys. HooYu is engineered not only to increase the integrity of KYC processes but to maximise the percentage of customers that can be successfully on-boarded.
The HooYu digital on-boarding journey combines clever UI & UX with a range of KYC tools. Key UI & UX considerations such as dynamic customer prompts, device language detection, reminder messages, white label customisation, logic steps to reduce friction, and customised journeys all help to maximise the success of customer account opening processes.
To increase the integrity of KYC processes, HooYu is the first identity platform to blend ID document validation, digital footprint analysis, geo-location and facial biometrics with traditional database checks and PEPS & sanctions screening. Behind all our proprietary KYC technologies is an identity confidence scoring engine that enables regulated entities to use HooYu on a Risk-Based Approach. In this way, high-risk customers can be mandated to offer more evidence of identity than low risk customers.
HooYu is used by tier one banks such as NatWest, leading online gaming operators such as Betfred, challenger banks such as Countingup & many regulated firms across online gaming and financial services.
