Investment app HeyTrade teams up with Veriff for identity verification

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  • HeyTrade’s aim is to facilitate investing to all traders by eliminating high fees, limited market access and complex paperwork.
  • Veriff will be providing face and document recognition technology to speed up the onboarding process for HeyTrade customers

HeyTrade, the new full-fledged investing platform, is partnering with Veriff, the global identity verification provider ensuring compliance and security. The app makes the process between sign-up and investing straightforward and simple, and Veriff adds an extra layer of security while accelerating onboarding.

Using a simple yet sophisticated mobile platform, HeyTrade is challenging banks and brokers on investing accessibility, user experience and costs. HeyTrade is launching in Spain in June and will be available in other markets soon after.

By integrating Veriff, HeyTrade clients can validate the authenticity of their identity by simply taking a photograph of their government-issued ID and a selfie. Veriff checks that the ID is genuine and then matches it to the user’s face. This process checks that the person is legitimate and ready to start investing through the app. It takes less than 5 minutes to create an account and begin trading.

“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 fulfill our ambitious growth and scale plans quickly," said Benito Méndez, CTO at HeyTrade. “Veriff helps automate much of our KYC and AML procedures and has been incredibly easy to integrate into our existing tech stack.”

“HeyTrade’s platform is creating new opportunities for the next generation of global investors, and Veriff is excited to provide a reliable and secure identity verification service to help support that mission,” said Janer Gorohhov, chief product officer and co-founder of Veriff. “We look forward to enabling HeyTrade users to invest their funds safely and securely well into the future via our identity verification capabilities.”

About HeyTrade
HeyTrade is a full-fledged next gen investment platform. On a mission to free money, the company allows retail investors to seamlessly trade across markets and assets through open banking. Founded in June 2020, HeyTrade is launching in Spain only 11 months after inception and will be available in other markets soon after. 
HEYTRADE TECH S.L. is registered with the CNMV (Comisión Nacional del Mercado de Valores) as an agent of Beka Finance, Sociedad de Valores, S.A., a company authorized and supervised by the CNMV and registered in its official registry under number 36.

Contact for editors:
Karita Sall, Veriff
Head of Global Marketing and Communications
karita.sall@veriff.com

Veriff is a global online identity verification company that enables organizations to build trust with their customers through intelligent, accurate, and automated online IDV. The largest database on the market, Veriff’s intelligent decision engine can analyze thousands of technological and behavioral variables in seconds, matching people to more than 9,000 government-issued IDs from over 190 countries. Founded in 2015, Veriff serves a global portfolio of organizations across fintech, crypto, and mobility sectors. Veriff’s total funding to date is $92.8 million, including the latest Series B funding round of $69 million in April 2021. Veriff investors include Y Combinator, Mosaic Ventures, Nordic Ninja, Accel, IVP, and others. With offices in the U.S., UK, and Estonia, Veriff has a team of more than 250 people from 34 different nationalities.

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