Paylink Solutions picks HooYu selfie biometrics to facilitate lending onboarding
Paylink Solutions has integrated HooYu into its Embark platform with the objective of facilitating KYC and lender onboarding processes using enhanced digital identification and authentication methods, including selfie biometrics.
Paylink Solutions said in a statement that although it already provides its Embark solution to major high street banks, law firms, debt management companies and mortgage brokers for collection processes and to power lending affordability assessments, the company decided to integrate HooYu to build customized journeys for brokers and lenders.
The statement explained that the HooYu solution triggers a customizable HooYu UI which is made available to the customer with a range of KYC stages to complete such as liveness detection, facial biometrics, ID document validation, proof of address matching, geolocation and identity confidence scoring.
The company said the move to integrate HooYu also come after an avalanche of suggestions from their customers about the need for a KYC technology that enables faster lending decisions and lending origination journey quality.
Reacting to the partnership, Paylink Solutions Product Development Director, Richard Healey, said it was a step forward for customers to be able to get feedback on lending requests in just a matter of minutes, unlike before.
“After taking time to understand our clients’ needs, we learnt that there was a need to further digitalise the lending journey, especially when it comes to broker driven lending. Now lenders and brokers can deploy the HooYu journey via Embark to speed the customer through to the decision,” he stated.
To David Pope, Marketing Director at HooYu, the partnership avails lenders of the kind of KYC tools they want used for their applications.
“Many lenders are struggling to build a consistent KYC process across their direct and their broker channels. The Embark and HooYu integration gives lenders the control of the KYC tools that they want to see used for each application and it also makes sure that the lender or broker branding is consistently applied during the KYC journey,” said Pope.
Paylink Solutions said it used to take days for a borrower to go through the KYC process, but that it will now take just a matter of minutes thanks to the novelty added to their Embark platform.
HooYu also has partnerships with many other institutions, notably in the financial services industry, where it is deploying its facial biometrics solution to improve KYC and customer onboarding.