Attendees of SiGMA Europe 2023 were treated to some incredible insights into the state of identity verification within the iGaming industry. Though a range of topics were discussed over the course of the conference, one crucial point stood out from among the rest: the significance of partnerships and advanced technology in transforming verification processes.
In an industry where meeting regulatory standards and building user trust is critical, identity verification (IDV) plays a foundational role. The complexities of verifying diverse global audiences while at the same time ensuring compliance present challenges that demand innovative solutions.
Automation is the way
Automation, as always, remains key. Streamlining the authentication of documents and Proof of Address (POA) information at scale is at this point considered table stakes for competitive operators. By integrating AI-driven technologies, operators can efficiently verify numerous documents across many regions, reducing—and perhaps one day soon, outright eliminating—the need for manual verification and processing times.
This emphasis on automation isn’t just about efficiency; it’s about improving the user experience. Swift verification processes facilitate smoother onboarding, creating trust and credibility among players. They also make it less likely for a player to abandon the onboarding process.
IT resource is a pressure point for great KYC change
As we are at the forefront of advancement in verification solutions, we could see that a major barrier to change for so many in iGaming was about finding the resource to change vendors. It’s not that the value of bettering the output in automation or improve the players’ time to cash out was not important, but once teams have embedded providers, it is hard to resource these out.
That’s why we took a fresh approach to ensure we were able to deliver to our customers a solution without any major lift—which we accomplished through integrated partnerships. In doing so, we are now available via some of the largest solutions providers globally, including Playtech, GeoComply (ID Comply), Experian, Aristotle, Sphonic, Risk Narrative, DTS, Alloy, Finscan, and Equifax, to name a few of the 50+ partners to choose from.
It’s important to embrace a collaborative approach, which enables operators and suppliers to exceed user expectations for a secure, reliable, and fast verification the first time. Let’s take these SiGMA insights forward, prioritizing technology and a partner echo system to elevate identity verification in iGaming.
About the post:
Images are generative AI-created. Prompt: Royal flush poker hand, style of Roy Lichtenstein Tool: Midjourney.
About the author:
Garrett Freehling has nearly a decade of experience working in technology. He is passionate about solutions for everyday problems and is constantly looking for the latest and greatest in the industry. Garrett’s background is in payments, customer experience, automation, and data management.