At HooYu we help a wide range of organisations to make sure that their customers are who they say they so they can safely on-board and start transacting with them. Unsurprisingly many of our clients come from regulated sectors such as financial services or online gambling where KYC is a regulatory requirement. In particular, we have seen many new clients such as Fonmoney and BC Remit sign-up from the money transfer industry since we launched HooYu a few years back.
As such we decided to try our hand and enter the Global RemTech Awards, organised by money transfer industry experts IMTC. We’re delighted to say that we won the Judges 2019 Mention award for ID Verification.
HooYu is perfect for helping money transfer companies to identify, verify and welcome new customers. Traditional processes such as database checks just don’t work for customer on-boarding when those customers are new-to-country and don’t have a credit reference agency footprint.
Instead, HooYu combines geo-location, ID verification and digital footprint analysis so that money transfer users can quickly and easily prove their identity to send money back home to their family.
No matter which corridor MTO’s specialise in, HooYu is there to help and we can validate ID documents from the Philippines, India, Pakistan, Mexico or in any other country globally.
Remitters like how our digital footprint analysis is a useful way for to build extra confidence in the identity of their customers. Regulators like how HooYu deploys these KYC tools to help prevent financial exclusion and enable money transfer users to prove their identity.
Another important aspect of HooYu is how our watchlist PEPS & Sanctions data checks alert remitters if they are about to potentially deal with a customer on a government watchlist.
At the IMTC conference in London recently, a Pakistani remitter asked me to put my money where my mouth is and test our watchlist data there and then. Now my Urdu isn’t great but luckily his English was much better. My Pakistani MTO friend then duly asked me to check some names and a second later I was able to show him which names match to the NACTA database, which is of course the Pakistani National Counter Terrorism Authority.
MTO’s get in touch with the HooYu team at firstname.lastname@example.org so we can speed up your customer on-boarding and help increase your AML compliance capability!