Finovate Alumni News

On Finovate.com

  • IBM Debuts Blockchain Network for Cross-Border Payments.
  • Finovate Global: PayPal in Argentina; Temenos Backs African Challenger Bank.

Around the web

  • Envestnet to acquire PIEtech, maker of MoneyGuide, in $500 million deal.
  • HooYu partners with online lottery betting operator, Lottomart, to help the Gibraltar-based firm meet AML requirements.
  • Wipro launches its AI and machine learning-powered accounts payable, KYC, and other solutions on Amazon Web Services.
  • Polish neo bank Nest Bank unveils new lifestyle services module, Finanteq’s SuperWallet, to its mobile banking app.
  • FindBiometrics interviews Biometric Signature ID CEO, President, and founder, Jeff Maynard.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

HooYu Brings Verification Services to Alt Banking Startup Suits Me

Identity verification specialist HooYu is collaborating with alternative banking solution provider Suits Me to help un- and underbanked workers get better access to financial services.

“Suits Me is an innovative solution that gives temporary workers freedom and choice through financial inclusion,” HooYu Marketing Director David Pope explained. “HooYu Identify blends a range of identity verification techniques into one service. By choosing the services according to their needs, Suits Me has built their ideal customer onboarding process balancing the twin objectives of security and convenience.”

Suits Me offers a hassle-free alternative for many workers, including temporary and migrant workers who are often unable to open traditional bank accounts. With Suits Me, account holders can send wages directly to their account and get a VISA debit card that can be used anywhere VISA is accepted – online, in person, and over the phone.

Courtesy of the partnership with HooYu, new Suits Me customers will benefit from an online verification process that is both seamless and comprehensive. With HooYu’s Identify solution, new customers simply take a selfie, and provide social media or online account information, and a photo of their ID document.

HooYu then conducts a biometric facial verification and authenticates the ID documents. Identify cross-references all of the collected identity attributes and scores them to create an overall identity confirmation score and report that show the degree of confidence in the accuracy of the customer’s claimed identity.

“Our mission is to help workers get paid, ” Suits Me CEO Matthew Sanders said. Pointing out how Suits Me relieves workers of the hassles of checks and check cashing, Sanders added “Integrating HooYu Identity removes yet another hurdle – we can trust who the customer says they are and, this can happen even more quickly, without unnecessary complications or bureaucracy.”

HooYu demonstrated its identity verification technology at FinovateEurope 2018. Founded in 2016 and headquartered in London, U.K., the company earlier this month announced that it would provide online verification services for mobile e-gaming operator, Small Screen Casinos. In September, HooYu reported partnering with U.K. casino operator, Bear Group, as well as teaming up with EasyMoney, a firm that offers a variety of innovative finance ISAs.

Finovate Alumni News

On Finovate.com

  • HooYu Brings Verification Services to Alt Banking Startup Suits Me.
  • Mambu Takes its SaaS Core Banking Solution to Orange Bank in Spain.

Around the web

  • API platform provider for banking and insurance NDGIT signs Banco BNI as a strategic customer.
  • EU Startups features Nordigen in its look at the top 10 Latvian startups to look out for in 2019.
  • Qover, an insurtech startup from Belgium, opens a new office in France.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

 

Finovate Alumni News

On Finovate.com

  • Ephesoft Helps Businesses Leverage the Cloud to Meet Demand.
  • Now a Temenos Company, Avoka Unveils Workspaces for Retail Banking.

Around the web

  • Onfido forges partnership with PensionBee.
  • Portugal’s Banco CTT to leverage technology from Fiserv to fight money laundering.
  • Lendio announces providing more than 5,000 Kiva loans to support women-owned businesses.
  • NCR unveils its EMV-integrated Equinox Luxe devices for NCR Connected Payments, giving a secure payment route for retailers.
  • Hooyu to provide online verification for mobile egaming operator, Small Screen Casinos.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Xero Learn Sets Stage for Next Generation of Number Crunchers.
  • SynapseFI Raises $17 Million in New Funding.

Around the web

  • iSignthis acquires core banking platform software business.
  • HooYu teams up with U.K. casino operator, Bear Group.
  • United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.
  • Ripple and TransferGo partner on real-time, blockchain-enabled remittances.
  • Striata inks partnership with UK-based customer communications specialist Communisis.
  • Experian to launch comparison service feature that gives consumers the real rate charged when applying for a credit card.
  • Tibco has started a research lab to develop new products and services in emerging areas such as blockchain, machine learning, artificial intelligence (AI) and the internet of things (IoT).
  • BeSmartee integrates with Fannie Mae’s Desktop Underwriter to Accelerate Mortgage Process.
  • Kasasa names Amy Gililland Chief Financial Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

HooYu Brings its Identity Verification Technology to EasyMoney

Identity security firm HooYu is partnering with EasyMoney to verify customer identity and improve user experience for the platform’s investors, reports Henry Villar of Fintech Futures, (Finovate’s sister publication).

EasyMoney has launched a range of “innovative finance” ISAs. These contain peer-to-peer (P2P) loans where lenders are matched online with borrowers, cutting out the banks, which allows them to offer substantially higher interest than currently available via traditional ISAs.

“(EasyMoney) aims to make quality financial products more accessible to everyone,” said Andrew de Candole CEO at EasyMoney. “One part of making these products accessible as possible is by making sure we can onboard customers as easily as possible with minimal friction, HooYu Identify enables us to do this.”

David Pope, marketing director at HooYu, commented: “HooYu Identify combines and blends new identity technologies such as digital footprint analysis, online ID document validation and facial biometrics with traditional database checks and PEPS [politically exposed persons] and sanctions screening.”

EasyMoney has picked HooYu’s tech to be implemented throughout the investors’ account opening process and to ensure AML compliance.

The team behind HooYu has built several database check businesses such as 192.com and 192business.com.

HooYu is also in charge of other firms’ KYC processes, such as challenger bank Countingup and gold-as-currency enabler Glint.

Founded in 2016, HooYu demonstrated its verification technology at FinovateEurope this spring. The company launched its HooYu Investigate data visualization tool to accelerate investigations and create actionable intelligence earlier this year. In August, the company launched its new hooyubusiness.com website, combining its identity verification and investigation services businesses.

HooYu Brings KYC, Enhanced Customer Onboarding to Gold-as-Currency Enabler Glint

Even in an age of cryptocurrencies, the appeal of of gold as an investment remains strong. This makes it all the more interesting to learn today that a fintech company has partnered with identity confirmation specialist HooYu to make it easier and safer for investors to buy and sell the yellow metal.

Specifically, HooYu has partnered with U.K.-based fintech Glint to provide customer identity verification during the account opening process. Glint offers a mobile app that enables users to load money into their account and convert it to gold. Users can then use their Glint Mastercard to make purchases using gold as their currency. Glint will use HooYu’s technology during the account opening process to meet AML and KYC requirements and ensure customers are who they say they are.

“It was important to us to design the account opening process to make it as easy as possible to open,” Glint co-founder Ben Davies explained, “we also needed a solution that would enable us to approve the customers who had pre-registered in a simple way.” HooYu has helped us get to launch and create a great digital journey that makes for easy and convenient account opening, whilst also complying with Anti Money Laundering regulations and preventing fraud.”

HooYu’s identity verification process is straightforward to use. The company sends the person to be verified an email or text message requesting identity information. The person uploads their information – online credentials, an official identity document, a selfie – and the HooYu Identity Engine analyzes the information submitted, cross-checking hundreds of data points to confirm the person’s identity. The platform is unique in the way it combines both modern identity technologies like digital footprint analysis and facial biometrics with more traditional protocols like database checks and PEPS and sanctions screening.

HooYu’s verification process takes only a few minutes. The company sends an email as soon as the verification is complete, and provides an ID report that can be reviewed on the HooYu dashboard. HooYu only shares or stores information that the user authorizes to provide to the requester. And once the verification process is finished, HooYu deletes all document images and social data from its platform.

Founded in 2016, HooYu demonstrated its verification technology at FinovateEurope 2018. Earlier this month, the company announced that it was working with Atos to improve its customer onboarding and due diligence for financial services clients. Atos also added the company to its global fintech partner program as a provider of global identity verification technology. Last month, HooYu teamed up with HouseSitMatch to verify the identity of house- and petsitters. And in December, the company partnered with Countingup to enhance the challenger bank’s account opening process.

Finovate Alumni News

On Finovate.com

  • HooYu Brings KYC, Enhanced Customer Onboarding to Gold-as-Currency Enabler Glint.
  • Modo Payments Wins Top Prize at ETA TRANSACT Payments Pitch-Off.

Around the web

  • FBI Director Wray highlights Symphony as a model of “responsible encryption” that solves the problem of “going dark.”
  • Luxoft builds blockchain adapter for Appian’s low-code Rapid Application Development (RAD) platform.
  • eToro adds trading support for EOS, expands list to 10 cryptocurrencies.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope Sneak Peek: HooYu

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

HooYu is a global identity verification platform that combines a digital footprint analysis, identity document verification, facial biometrics, and database checks to confirm the customer’s identity.

Features

  • Verifies and welcomes the 30% of customers that aren’t being catered to with traditional KYC
  • Seamlessly fits into your customer on-boarding process
  • Enhances your customer due diligence checks

Why it’s great
HooYu’s approach is to blend identity technologies and multiple sources of identity information to form a multi-layered defense and help pass all of your customers during the on-boarding process.

Presenter

David Pope, Head of Marketing
With just under 20 years of marketing experience, Pope is responsible for marketing and sales. A specialist in helping firms understand KYC regulation, David is an expert in identity fraud and theft.

HooYu to Provide Verification Services for U.K. Challenger Bank Countingup

 

Challenger bank Countingup is the latest firm to call on London-based HooYu for its innovative identity confirmation services. “It was important to us to design the account opening process to make it as easy as possible to open an account in less than five minutes,” Countingup CEO Tim Fouracre said. “HooYu helps us not just to comply with money laundering regulations and to prevent fraud but also helps us to curate a great digital journey that makes for easy and convenient account opening.”

Marketing Director for HooYu David Pope called Countingup “a truly differentiated offering from a challenger bank. He credited the institution for “offering more than just a bank account but the tools to help their customers manage and grow their business.”

(left to right) Marketing Director David Pope and Product Director Grant Greenwood demonstrating the HooYu platform at FinovateEurope 2017.

Countingup specializes in combining banking and accounting services for U.K. entrepreneurs, providing assistance with VAT returns, P&L reporting, invoicing, and book-keeping.  Customers who open a current account with Countingup, which plans to launch in early 2018, will get a U.K. sort code and account number, as well as a contactless MasterCard. Countingup announced a fundraising of $750,000 in October in a round led by Frontline Ventures.

HooYu won over Countingup based on the wide variety of identity confirmation solutions the firm provides. These include identity database checks and ID document validation as well as facial biometrics and digital footprint analysis. HooYu’s platform will also help Countingup meet AML requirements.

Founded in 2016 and headquartered in London, U.K., HooYu made its Finovate debut in February at FinovateEurope. Marketing Director David Pope and Product Director Grant Greenwood demonstrated the company’s global identity confirmation service that can be used by both businesses and individuals when making sensitive transactions.

In October, HooYu partnered with Cars-as-a-service innovator easyCar Club, providing identity verification for the 100,000 member car hire marketplace. In August, the company teamed up with online money transfer platform, BCRemit, to help the U.K.-based firm improve on-boarding and reduce fraud. Keith Marsden is CEO.