Hoo Yu introduces its latest tool to KYC suite – ‘Card Check’

Hoo Yu introduces its latest tool to KYC suite – ‘Card Check’

Hoo Yu has added another innovative tool to its KYC and onboarding suite. The service provider is introducing the ‘Card Check’ service, which is designed to help casino operators in high-risk sectors maintain their compliance and AML controls.

More Details about Card Check

Card Check complements the security feature of Hoo Yu’s KYC service as the technology requires customers to provide a photo of their payment card at payout. Hoo Yu will then subsequently check the card number and cardholder name against the card(s) that were originally used to deposit, without retaining or compromising classified information.

Card Check is basically a software extension to the company’s existing KYC portfolio. It is designed to prove that the withdrawal of funds during payout will go to the real customer. The tool shuts down of a possible identity theft, preventing bad actors from account takeover and making off with the customer’s winnings.

Upgrade in KYC service

Hoo Yu sees the addition of Card Check to their KYC program as a shot in the arm to its biometric and ID validation capabilities to service customers beyond their verification needs.    

The company added the development of the tool stemmed from igaming client’s needs to provide faster withdrawal verification services, thereby minimizing the use of customer service validation resources.

“Our clients asked us if we could extend the HooYu journey to payment cards to reduce manual overhead checking at payout and increase AML controls. This new journey speeds up the payout process and saves operators many man-hours checking that payouts are being sent to the right card.”

According to the data gathered by HooYu, 80 percent of players surveyed said that fast payouts are important when choosing an online gambling or betting provider. Moreover, 55 percent of the respondents suggest that they were likely to switch to an online gaming service that provides instant withdrawals.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.