HooYu and Acuant provide facial biometrics for seamless onboarding and online transactions

A pair of biometric onboarding and identity verification providers have announced customer wins in the financial services industry, one for a cryptocurrency fintech and one for a digital payments company.

Biometric onboarding and KYC technology from HooYu has been selected by mobile cryptocurrency platform Baanx to ensure successful customer journeys and meet AML compliance requirements.

HooYu Identify has been deployed to speed up KYC and customer onboarding while improving the customer experience with ID document validation and selfie facial recognition. The implementation comes as new Money Laundering and Terrorist Financing (Amendment) Regulations 2019 are coming into effect, bringing cryptocurrency businesses into scope and requiring them to carry out Customer Due Diligence checks.

“It’s important that as the crypto industry matures and scales, that we all adhere to KYC regulation,” comments Baanx CEO Garth Howat. “That said, we haven’t chosen HooYu solely to help us comply with the money laundering regulations, HooYu also helps us to curate a smooth KYC journey and improve our onboarding success rates.”

“It’s been great to see the results of Baanx implementing the HooYu digital KYC journey and how the HooYu UI and UX tools are helping their customers though the KYC process whilst helping meet KYC regulations,” adds HooYu Marketing Director David Pope.

HooYu announced more traditional financial services provider Vanquis Bank as its latest customer win in January.

Ceevo Group, meanwhile, has chosen Acuant’s identity verification technology to enable speedy and secure omnichannel remote payments with immediate ID proofing for its payment platform.

Customers of Ceevo can use the payment method of their choice for a seamless shopping experience, according to the announcement.

The payments company selected the Acuant Trusted Identity Platform for its flexibility and ease of use, with support for iOS, Android, and HTML and deployment to smart devices, desktop computers and kiosks. This enables Ceevo customers to seamlessly interact on any channel and in cross-channel transactions to complete multi-factor authentication (MFA) in a user-friendly workflow.

“We believe everyone should benefit from the speed at which money, the global economy, and society is changing. But in order to do that, we needed a way to quickly and seamlessly onboard customers, and accurately verify their identity,” says Philip Meyer, Ceevo Group CEO. “After evaluating many vendors, we determined that Acuant had the most comprehensive and effective technology platform. In particular, Acuant’s mobile HMTL5 SDK was crucial, as mobile collection is the most reliable form of know your customer (KYC) collection today.”

Acuant FaceID provides advanced passive liveness detection, which it introduced in February, in its Standard and Government classes to block sophisticated fraud attempts and enable customer verification via HTML or mobile interactions.

“The digital revolution has changed the way people work. Like Ceevo, Acuant’s mission is to help businesses stay ahead of changing consumer demands, so they can focus on their business,” states Yossi Zekri, president and CEO of Acuant. “This is all the more important in our current global crisis, where businesses and consumers must build trust from a distance. Our technology is purpose-built to create more trusted transactions and we are thrilled to partner with Ceevo to democratize mobile payments.”

Article Topics

Acuant  |  biometrics  |  digital identity  |  facial recognition  |  HooYu  |  identity verification  |  KYC  |  passive facial liveness