Virgin Money overhauls onboarding with new tech

Virgin Money has integrated customer onboarding and KYC technology from HooYu to help boost the account opening experience for new customers.

The full-service digital bank previously had manual steps and offline processes for customers that fail the database check process. Following a failed check, the process could take days to complete.

With the new technology these processes have now been digitalised.

Customers can now continue to their application via selfie capture, liveness detection, ID document capture and validation, facial biometrics, address proofing, and geolocation.

“Our smart digital tools put our customers in control and the HooYu journey helps our customers to successfully pass KYC where traditional name and address checks fail,” said Linda Robertson, head of digital customer experience at Virgin Money. “We chose to work with a regtech partner like HooYu because their platform enables us to easily build a range of digital onboarding journeys that are simple for our new customers to complete.”

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