This is our vision, a digital identity for all, that can be quickly and securely created and easily and safely asserted in a way that meets fraud, AML and age verification requirements for relying parties.
We've built a secure digital identity wallet app that the user downloads to create their digital identity. When a relying party asks to verify a user's identity, they use their HooYu app to share their verified identity, or certain aspects of it based on the level of assurance required.
KYC and AML regulations in the UK, the EU and beyond are now being published that allow regulated firms to rely on a trusted digital identity. HooYu is at the forefront of working with national governments and industry bodies to construct the digital identity ecosystem in a way that works for the user, the relying party, the regulator and Identity Providers (IDP) like HooYu.
The HooYu digital identity app is powered by same approach that has verified millions of identities for banks like NatWest and gambling operators like Betfred. We blend facial biometrics, liveness detection, ID document validation, database checks, geolocation and digital footprint analysis so that relying parties know who they're dealing with. Our processes are aligned to GPG45 and government accreditation.
At HooYu we believe that the user owns their identity, that their identity data shouldn't sit in centralised databases and that the users should control who has their data. The HooYu app is engineered so that only the user can access their digital identity on their app and all personal information is stored on the individual's mobile device using 256b AES encryption security.
Here's a quick overview of how digital identity works for the user and for the relying party such as a bank, airline, gambling site, lender, lawyer etc that need to KYC their users…
User is given the choice to create a digital identity with HooYu, downloads the HooYu app and is asked to provide a selfie, ID document, Proof of Address.
HooYu performs database checks, PEPS & Sanctions screens, facial biometrics, liveness detection, ID document validation, geolocation and identity confidence scoring.
Digital identity is confirmed, results are passed back to the relying party (bank, airline, gambling site, lender, lawyer etc). The user now has a verified digital identity that can be asserted to other relying parties.
User is given the choice to assert their digital identity with HooYu and selects HooYu from the list of IDPs.
The HooYu app on the user's device passes the verified identity data to the relying party, plus the evidence and audit trail of the original verification.
The user is quickly and safely through KYC without having to provide ID documentation and other KYC steps.
As industry and government moves swiftly towards adoption of re-usable digital identity, we're working closely with regulators and industry bodies to help define and develop the standards and the rails.
HooYu is participating in the UK government consultations on digital identity and contributed our views to help shape policy and the development of the UK's digital identity legislation.
HooYu meets the UK government’s standards for identity verification against many different levels of assurance. Our clients already deploy KYC journeys that are customised to verify identity based on product, market or fraud risk.
The cryptographic technology within the HooYu app enables a user's phone to read an NFC chipped passport and so we can help UK-based conveyancers meet the HMLR Safe Harbour standard.
HooYu is a partner in several important industry pilot programs for digital identity, which will lead to individuals getting faster access to banking services and buying homes.
Digital Innovation Director
