HeyTrade to implement Veriff’s identity verification technology

Investing platform HeyTrade has implemented Veriff’s global identity verification services as part of a new deal to improve onboarding.

The deal will help HeyTrade accelerate the onboarding to its mobile app, whilst adding additional security layers.

Customers can validate the authenticity of their identity by taking a photograph of their government-issued ID and a selfie. Veriff checks the ID is genuine and then matches it to the user’s face. The process checks the person is legitimate and the person is ok to start investing through the app.

It claims the process takes less than five minutes.

HeyTrade CTO Benito Méndez said, “At HeyTrade we consider technology and security to be two indispensable assets to offer the best service to our users. Thus, we rely on the best partners in the market, such as Veriff. Its high quality identity verification solution will enable us to fulfil our ambitious growth and scale plans quickly.

“Veriff helps automate much of our KYC and AML procedures and has been incredibly easy to integrate into our existing tech stack.”

The HeyTrade platform, which is launching in Spain in June 2020 and other markets soon, provides consumers with access to simplified investing. The platform lets users buy and sell USA, European and UK equities instantly through open banking technology.

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