Paylink Solutions, a fintech provider which creates solutions to support customers struggling with their finances, already provides its Embark product to major high street banks, law firms, debt management companies and mortgage brokers.
These firms use the system for collections processes and to power lending affordability assessments.
Providers such as Experian, TransUnion and Credit Kudos are among those integrated to the system. Indeed, their feedback pointed to the need for KYC technology which enhanced the quality of the lending origination journey and enabled faster lending decisions.
Paylink Solutions conducted a comprehensive review of customer onboarding technology providers, and integrated HooYu to build customised journeys for brokers and lenders.
ID verification
HooYu has now been integrated into Embark which triggers customisable HooYu UI and is presented to the borrower with a range of KYC steps such as liveness detection, facial biometrics, ID document validation, proof of address matching, geolocation and identity confidence scoring.
The time taken to get a borrower through KYC will now be reduced from a process that could take place over days down to a smooth digital journey that takes just a few minutes.
Paylink Solutions is a leading financial services technology provider that works with banks and building societies to deliver digital affordability solutions to support customers struggling with their finances.
Richard Healey, product development director at Paylink Solutions said: “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.”
Meanwhile, David Pope, marketing director at HooYu said: “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.”
