HooYu ID to optimize Betfred KYC procedures through facial biometrics
Online sports betting service Betfred has signed a partnership with HooYu to leverage biometric facial recognition and other verification methods to ensure compliance with new UK Gambling Commission (UKGC) measures, SBC news reports.
As per UKGC online gambling regulations, betting companies have to optimize KYC procedures and guarantee strict ID checks for ensure customer verification.
HooYu’s platform prevents fraud and financial crime by verifying user identity through a biometric selfie, digital footprints and ID document authentication. The two companies have been working together since April.
“HooYu has not only complied with all the requirements from the UK Gambling Commission they have created the best possible KYC process when customer documentation verification is required,” said David de la Yesa, director of payments and fraud at Betfred.
“HooYu Identify enables Betfred to comply with the new Gambling Commission age verification requirements whilst minimizing the impact to customer acquisition and maximizing customer sign-up,” explained David Pope, marketing director at HooYu.
UK commercial and retail bank NatWest also recently chose Hooyu’s identity verification technology for online new account opening.