Countingup selected HooYu due to the broad range of HooYu identity technologies such as identity database checks, ID document validation, facial biometrics, PEPS and Sanctions screening, digital footprint analysis and proof of address checks.
The challenger bank aims to launch in early 2018 as a combined banking and accounting proposition targeting the UK-based entrepreneurs. The Countingup app will help owners with accounting, VAT returns, profit and loss reports, invoicing and machine learning book-keeping technology.
Customers will be able to open a current account on their smartphone in 5 minutes. The account comes with a UK sort code and account number and a contactless MasterCard. HooYu was chosen by Countingup to be deployed during the account opening process to prove that customers are who they say they are and ensure compliance with money laundering regulations.
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