Vanquis Bank chooses HooYu facial biometrics to digitalize KYC
HooYu has partnered with Vanquis Bank, a subsidiary of Provident Financial Group, to help it digitalize its KYC processes by delivering enhanced identity proofing in the customer lifecycle during high-risk actions related to accounts, the company announced.
“By adding HooYu to our KYC tools, we can improve some of our higher risk customer processes and can now facilitate customer requests without asking the customer to post in copies of documentation,” said Sue Singleton, Process Change Assurance Manager at Vanquis Bank. “Our agents deal with thousands of customers a day and now what could have been a delay of weeks for our customers, can be achieved in a matter of minutes with HooYu”.
Vanquis Bank brings to the table more than 140 years of experience in doing business with consumers turned away by mainstream lenders. Claiming millions of consumers, Vanquis Bank was looking to optimize fraud prevention and the KYC process while not compromising on customer experience.
Customers trying to make changes to their account sometimes had to wait weeks for approval. As a result, Vanquis Bank decided to implement an ID document validation solution to speed up customer lifecycle management and improve the customer experience.
“It’s been great to see the results of Vanquis implementing the HooYu digital journey and how the HooYu UI and UX tools are helping their customers though the KYC process,” said David Pope, Marketing Director at HooYu.
HooYu’s facial biometrics have been chosen to boost KYC efficiency by a number of businesses in 2019, including iGaming operator Gaming Innovation Group (GiG) Betfred, NatWest and alternative UK banking solution Suits Me.
Article Topics
biometrics | digital identity | facial recognition | HooYu | identity verification | KYC
Comments