Neobank Muniy partners with HooYu to power KYC and smooth customer onboarding

Leading customer onboarding and KYC RegTech firm, HooYu, has announced a partnership to power KYC for new neobank Muniy as they launch in the UK.

Innovative neobank Muniy is on a mission to bring banking to the 1 in 3 adults that remain unbanked globally. As a digital only bank, their aim is to offer banking in an intuitive and simple user interface that makes finance easy.

HooYu was selected to deliver ID document validation, facial biometric checks, and PEPs and Sanctions screening. These checks are integrated into the customer onboarding process and are delivered in real-time to ensure compliance with AML requirements and speed up account opening.

Jeremy Suarez, CEO and co-founder at Muniy said, “Only half of the world has an active bank account and we want to change that. We want to increase not just the ease of access but also the ease of interaction for financial services. At the same time, we need to guard against financial crime and ensure AML compliance. To do that we’ve teamed up with HooYu so we can verify identity documents from all over the world.”

David Pope, Marketing Director at HooYu said, “At HooYu we power onboarding and KYC for great challenger banks looking to increase access to financial services and transform banking. The team at Muniy have a great proposition and ideas for how to transform the banking experience not just for consumers but also for merchants and lower transaction processing costs.”