Baanx, HooYu team up for onboarding and KYC processes

Thursday 19 March 2020 12:50 CET | News

Customer onboarding and KYC technology company HooYu has been deployed by mobile crypto and fiat specialist Baanx

The HooYu Identify KYC journey has been selected to provide identity verification for the onboarding of new customers. Baanx is a mobile cryptocurrency platform which aims to facilitate how their products work for their customers. The reason behind Baanx’s decision to implement an ID document validation solution is that the company would speed up KYC and customer onboarding, whilst also facilitating the customer experience.

Baanx’s implementation of HooYu Identify comes as the new Money Laundering and Terrorist Financing (Amendment) Regulations 2019 have come into effect. One of the major updates in this regulation brings crypto businesses into the scope of the AML regulatory framework, which means that crypto wallets and exchanges are now required to carry out customer due diligence.

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Keywords: Baanx, partnership, HooYu, KYC, cryptocurrency, digital assets, due diligence, wallets, exchanges, AML
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3