Product update

A smooth identity verification process

6 December 2021   |   13 Minute Read

Soldo teamed up with HooYu to get new Soldo accounts up-and-running even quicker. HooYu helps by guiding you through verifying your identity and uploading your identity documents as efficiently as possible. This verification step slots securely into the Soldo account application journey.

Note: Identity verification through HooYu will be required for new users when they sign up for a Soldo account. Soldo users with an existing account won’t have to do anything.

Here’s some more information about HooYu and identity verification, so you know what to expect when signing up to Soldo.

1. Why Soldo use HooYu

As a regulated financial services provider, Soldo must check who you are before we open an account for you. So, during a Soldo account application, we’ll verify your identity through HooYu.

Rest assured, HooYu also work with other big financial services providers, such as NatWest in the UK. HooYu verify your identity when you supply your ID documentation, by walking you through a facial liveness check that accelerates your account opening.

2. Liveness check – Confirming who you are

A liveness check describes the process of your photo ID being compared to in-the-moment images of your face, taken from different angles. These images are captured with your phone camera or webcam, accompanied by step-by-step on-screen guidance. After providing the photos of your face, you’ll then need to photograph or upload a copy of your identity documents.

This liveness check brings peace of mind, because it guards against someone opening an account using another person’s identity.

3. The process is safe

Because HooYu uses Transport Layer Security (TLS) encryption, your data is safe and secure. HooYu delete every copy of your documents once the identity check is complete.

4. Sharing information

During the verification process, only the minimum amount of data is shared. Soldo needs to share your contact details with HooYu. In return, HooYu shares the identity verification results with Soldo.

5. Getting ready

Most importantly, before applying make sure your ID documents haven’t reached their expiry date. To pass the identity check, the expiry date on your ID document must be a future date.

Within the Soldo registration journey, when you sign up for a Soldo account you’ll be prompted to verify your documents through HooYu. You’ll be guided step-by-step on what to do.

 

Speed. Certainty. Security. Protecting you.

Soldo partner with HooYu.

Related posts