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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.