• Challenger bank Countingup to launch in early 2018 as a combined banking and accounting proposition
  • HooYu Identify provides Countingup with a suite of identity solutions to verify customer identity at point of account opening

Leading identity confirmation provider HooYu Identify has partnered with challenger bank Countingup to verify customer identity and help maximise success rates in the customer account opening process.

Countingup is an innovative challenger bank that goes beyond traditional banking facilities to equip its customers with a unique commercial banking app. The Countingup app helps owners with ​accounting, ​VAT ​returns, ​​profit ​and ​loss ​reports, ​invoicing and machine ​learning ​book-keeping technology.

​Countingup ​is specifically designed to help the 4.2million entrepreneurs in the UK by bringing accounting and banking together. Customers ​are ​able ​to ​open ​a ​current ​account ​on their ​smartphone ​in ​just ​5 ​minutes. ​The ​account ​comes ​with ​a ​UK ​sort ​code ​& account ​number ​and ​a ​contactless ​MasterCard.

HooYu Identify was chosen by Countingup to be deployed during the account opening process to prove that customers are who they say they are and ensure compliance with money laundering regulations.  Countingup selected HooYu Identify due to the broad range of HooYu Identify identity technologies such as identity database checks, ID document validation, facial biometrics, PEPS and Sanctions screening, digital footprint analysis and proof of address checks.

Tim Fouracre, CEO at Countingup commented, “It was important to us to design the account opening process to make it as easy as possible to open an account in less than five minutes.  HooYu Identify helps us not just to comply with money laundering regulations and to prevent fraud but also helps us to curate a great digital journey that makes for easy and convenient account opening.”

David Pope, Marketing Director at HooYu, commented, “Countingup is a truly differentiated offering from a challenger bank, in that they are offering more than just a bank account but the tools to help their customers manage and grow their business.”