HooYu Launches New Suite of UI and UX Tools to Improve KYC Processes
- AML and KYC
- 11.01.2021 11:30 am
Leading provider of digital KYC onboarding technology, HooYu, today announces the launch of new UI and UX tools to increase success rates for regulated companies that perform Know-Your-Customer (KYC) checks. This comes after research from a HooYu report revealed that more than 85% of fintech and e-money providers see streamlining the effectiveness of customer onboarding as the best tactic to grow their customer numbers.
To create a solution that would streamline customer onboarding and the KYC process, HooYu spent months testing with major players in the banking, fintech and online gambling industries. This ensured the new UI would strike the correct balance of offering best-in-class KYC compliance while improving the process for users to sail through customer onboarding.
By doing so, banks and fintechs will be able to significantly reduce the average 26% drop off rate  they experience when onboarding new customers, a costly figure of lost customers and missed revenue.
The revamped user interface provides more choice for users completing a digital KYC onboarding journey. Digitally savvy users can follow dynamic prompts to fast-track through the process and enjoy a straight-through KYC journey. Meanwhile, users that need more support can return to the HooYu Journey Hub where they can get further guidance on what information or documents they have to provide to pass KYC checks.
This new UX is designed to cater to different user personas that need differing levels of support to get across the digital KYC finishing line. Careful consideration has also gone into accessibility to help prevent financial exclusion for those with visual or physical additional needs.
For banks and fintechs, the new UI has more customisation options - firms can edit icons, buttons, fonts and brand colours, as well as adding custom messages. They can also add Custom Style Sheets to control the appearance of the HooYu journey for their users without the need to secure developer resource.
“We’re constantly optimising and A/B testing the Suits Me application process to ensure it is streamlined for our customers,” Kim Roberts, Marketing and Communications Director at Suits Me, a fast growing fintech providing accounts for the underbanked, said. “The new HooYu digital journey UI tools allow us to build the best possible customer journey, driving growth and ensuring KYC controls.”
David Pope, Marketing Director at HooYu, added: “At HooYu, we solve both sides of the customer onboarding equation by helping firms to increase the integrity of KYC and to maximise the success rates of digital customer onboarding. We’re grateful to all our clients that helped us test and refine our new UI and UX tools. Now it’s time to get back into the HooYu lab and start designing the next generation of customer journey tools for today’s digital consumer.”
For more information about HooYu, please visit: https://www.hooyu.com/.