HooYu, Vanquis Bank join forces to digitalise KYC processes

The reason behind this KYC journey is that HooYu wants to provide additional identity proofing during the customer lifecycle when customers perform a potentially high-risk action on their accounts. Moreover, Vanquis Bank decided to implement an ID document validation solution that would speed up customer lifecycle management and facilitate the customer experience.

HooYu is a specialist in building KYC, customer onboarding, due diligence and fraud investigation products. Via this partnership, Vanquis Bank believes that by adding HooYu to their KYC tools, they will be able to facilitate some of their higher risk customer processes, IBS Intelligence confirms. Also, customer requests can be answered without the necessity for the customer to post in copies of documentation.