IDV: Why securing gaming players enhances operator processes
Today's gaming operators are looking to expand in new markets and secure gains in established markets. By embracing the potential of identity verification (IDV), operators can optimize the customer experience and maximize conversions, gaining a significant competitive edge.
Chris Hooper
Identity verification (IDV) is a crucial tool for operators today, enabling companies to meet strict regulatory demands. However, it also offers significant business benefits for operators, enhancing their processes and boosting their commercial appeal.
This works on two major levels. First, there is the need for regulatory effectiveness, with operators needing to fully comply with legal demands.
Second, it is a key brand differentiator. If operators get IDV and Know Your Customer (KYC) right, they can minimize the time taken to onboard and remove as much manual input from the customer as possible. This is all about having a process that helps get genuine players through the first time.
If operators get IDV and Know Your Customer (KYC) right, they can minimize the time taken to onboard and remove as much manual input from the customer as possible.
Why individualization matters
The need for individualization is particularly important as operators look for growth in emerging markets around the globe, which are the future for the sector in the coming decades, offering growing customer bases and a level playing field. A dedicated approach to IDV can help operators to effectively engage with customers in these markets.
Additionally, by building out their IDV, KYC and AML processes now, operators can get ahead of the game from a regulatory point of view. For example, Brazil remains a ‘grey market’ in the gaming sector, but it is possible that full regulations could be introduced in the coming years; by ensuring IDV systems are future looking, with compliance and the customer at the heart, operators can ensure they are ready for whatever comes their way.
Boosting onboarding with effective player verification
The industry faces a range of hurdles, from ensuring there is no underage gaming as a minimum to making sure customer checks do not impinge on the user experience and impact customer acquisition - all while delivering on AML, KYC and beyond. An easy-to-use and straightforward verification flow brings tangible benefits, improving conversion by as much as 30% by enabling customers to get verified first time.
Through the use of face, document, device and network diagnostics – combined with video-based behavior analysis – we make it easy and frictionless to confirm identity online. This technology is combined with AI and data extraction, with forms pre-filled using data from identity documents and minimizing human error.
Fast decisions
A 98% check automation rate gets customers through in about 6 seconds.
Simple experience
Real-time end user feedback and fewer steps gets 95% of users through on the first try.
Document coverage
An unmatched 10K+, and growing, government-issued IDs are covered.
More conversions
Up to 30% more customer conversions with superior accuracy and user experience.
Better fraud detection
Veriff’s data-driven fraud detection is consistent, auditable, and reliably detects fraudulent forms of identification.
Scalability embedded
Veriff’s POA can grow with your company’s needs and keep up with times of increased user demand.
