ID confirmation specialist HooYu announced a new partnership this week. The London-based fintech has teamed up with easyCar Club to provide identification verification for the 100,000-member P2P car hire marketplace.
“Our partnership with easyCar Club helps all parties in the equation to transact confidently,” HooYu Director of Marketing David Pope explained in a statement. “Insurers have the comfort that they know who is renting vehicles, easyCar Club are able to grow user numbers confidently and new users can enter the world of peer-to-peer marketplaces secure in the knowledge that they know who they are dealing with,” Pope said.
HooYu Director of Marketing David Pope demonstrating the company’s ID confirmation platform at FinovateEurope 2017.
“HooYu helps us add another layer of trust and safety to our marketplace giving our vehicle owners additional confidence in knowing that we proactively verify the identity of our users,” easyCar Club Product Manager Jin Ng said. easyCar Club leverages the growing popularity of the sharing economy to offer Cars-as-a-Service (CaaS) as a revenue opportunity for car owners and a convenience for people who only need cars on a short-term basis. Car owners earn an average of more than $1,900 (£1,500) a year lending their vehicles out and the company says its platform has facilitated “tens of thousands of rentals.”
HooYu cross-references and analyzes data from digital footprints in order to provide identity confirmation. The platform also uses a biometric face check, as well as data extraction and verification of the ID document itself to confirm real-world identity.
Founded in 2016 and based in London, U.K., HooYu demonstrated its platform at FinovateEurope 2017. In August, the company announced a partnership with BCRemit, an online money transfer platform based in the U.K., that will help the firm accelerate its customer onboarding process. Earlier this year, HooYu reported that it would bring its ID confirmation technology to the equity crowdfunding platform, Vestabyte.