HooYu partners with Countingup to maximise account opening success rates and prevent financial crime

by Simon Kelman

- Challenger bank Countingup to launch in early 2018 as a combined banking and accounting proposition

- HooYu provides Countingup with a suite of identity solutions to verify customer identity at point of account opening

London, – 29th November 2017

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

Counting Up and HooYu

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 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 due to the broad range of HooYu 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 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.”        

About HooYu

HooYu is a global identity confirmation service used not only by businesses that need to check their customers are who they say they are, but also by consumers who want to check another person’s identity before they proceed with an important or sensitive transaction.

HooYu's approach is to blend and combine multiple identity technologies including social media and digital footprint analysis, identity document authentication, facial biometrics, database checks and PEPS and Sanctions watchlist checks to confirm identity.

HooYu cross-references and analyses data from a person’s digital footprint to confirm their real-world identity. HooYu also extracts and verifies data from ID documents at the same time as authenticating the ID document and conducting a biometric facial check comparing a selfie of the customer with the facial image on their ID document.

For further information, contact David Pope at david.pope@hooyu.com

About Countingup

Countingup is your accounting and banking in one place. It's the simple way to run your business. Started in September 2017 by CEO, Tim Fouracre, Countingup is a VC backed challenger bank building an accounting bank for the 4.2m sole traders and small companies in the UK.

Tim Fouracre qualified as a Chartered Accountant at KPMG in 2007. He founded cloud accounting software company Clear Books plc in 2008 and was its CEO for nine years.

For further information, contact Tim Fourace at press@countingup.com or on 020 8068 6862.

Simon Kelman