In the fast-paced world of online gambling, efficiency is key to success. Streamlining the onboarding process for players is critical for gambling operators and platform providers to acquire and retain customers effectively.
One significant bottleneck in the onboarding journey is the manual entry of details from proof of address (POA) documents, which leads to operational inefficiencies and causes delays for players. The future of this process, however, lies in fully automated optical character recognition (OCR) technology rather than relying on manual intervention. Let’s explore the benefits of this shift.
Lowering operational costs
Implementing automated OCR technology significantly reduces operational costs associated with staffing. Manual data entry requires a dedicated team to handle the influx of proof of address documents submitted by players during onboarding.
In automating this process, gambling operators eliminate the need for a large workforce, leading to substantial cost savings. Moreover, it frees up human resources to focus on more value-added tasks, such as customer support or fraud detection.
A better onboarding experience
Automated OCR also enhances the speed and efficiency of the onboarding process. Manual data entry is prone to errors, which can result in delays as documents need to be reviewed and corrected. In contrast, OCR technology can quickly and accurately extract relevant information from proof of address documents, reducing the time it takes to verify a player’s identity.
This streamlined process improves the overall player experience as well as increases the likelihood of successful conversions during the critical onboarding phase.
Complying with regulations
Furthermore, automated OCR enhances compliance and reduces the risk of fraud. Gambling operators are required to adhere to strict regulatory guidelines, including Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
Manually processing proof of address documents increases the likelihood of human error and oversight, potentially leading to compliance breaches. On the other hand, automating the OCR process lets operators ensure consistent and accurate verification of player identities, thereby mitigating compliance risks and safeguarding against fraudulent activities.
Scaling up (or down)
Automated OCR technology additionally offers scalability and flexibility to accommodate fluctuations in demand. As online gambling continues to grow globally, operators must be prepared to onboard a large volume of players efficiently.
Manual data entry processes are often limited by human capacity and can struggle to scale with increasing demand. In contrast, automated OCR systems can handle a high volume of documents with ease, providing operators with the scalability needed to support their growth trajectory.
Gaming & digital transformation
Lastly, embracing automated OCR aligns with the broader trend of digitization and technological advancement in the gambling industry. As players increasingly expect seamless and convenient online experiences, operators must leverage technology to meet these expectations.
Automated OCR both improves operational efficiency and demonstrates a commitment to innovation and customer-centricity, enhancing the overall brand reputation.
OCR tech is the way forward
The future of the onboarding process for gambling operators and platform providers lies in fully automated OCR technology. By eliminating manual data entry, operators can reduce costs, improve efficiency, enhance compliance, and deliver a superior player experience. Embracing automation not only addresses current pain points but also positions operators for long-term success in a market that will only become more competitive over time.
About the post:
Images are generative AI-created. Prompt: Thousands of letters and numbers reflected in two digitally rendered eyes, brilliant colors, image has a futuristic, high-tech feel. Tool: Midjourney.
About the author:
Diamond-Hope Kingston is the Product Marketing Manager at IDVerse. She has over half a decade of experience in product marketing and content marketing for companies across a wide range of sectors, including fintech, neurodiversity, and pharmaceutical logistics. A born collaborator, Diamond holds a master’s degree in media and communications and is based out of IDVerse’s London office.
