Challenges
The client was having trouble matching a segment of harder-to-reach customers, verifying specific day of birth (critical for regulatory purposes in this industry), and keeping bonus abuse at bay.
Verifying age and identity of thin-file customers
When it comes to offering age-restricted goods and services, one of the biggest challenges for many organizations is confidently verifying individuals who have limited credit and banking history. This includes young people, those new-to-country and other underbanked demographics who have legitimate interest.
Without a comprehensive array of public and private data sources to draw from, many organizations will simply turn these individuals away, sacrificing revenue to ensure more robust fraud prevention and compliance. This was the case for our sports betting client, who wanted to maximize onboarding rates.
Meeting regulatory compliance requirements
Gaming authorities around the world have complex compliance requirements, often based on jurisdiction, territory, or state. Gaming companies are also challenged to validate that users are located within jurisdictions where gaming is legal.
Ensuring organizations meet these requirements can be costly and complex if not implemented effectively and can potentially derail growth. AML and KYC regulations require organizations to go beyond basic identity verification.
The client wanted to have transparency and comprehensive case management tools related to identity decisions in order to feel confident about compliance with AML and KYC global gambling regulations. Adaptability of verification processes was also important as regulations have continued to evolve.
Solution
Our platform provided the client with a complete understanding of identity through both data and document verification capabilities
Our gaming client chose our solution as it allowed for easy configuration of onboarding workflows, ensuring customers moved through the necessary verification stages as required. This avoids the introduction of unnecessary friction to low-risk customers with a high-level of identity assurance, while higher-risk customers can be escalated through further stages.
Identity data verification was implemented as a first step in verifying consumer identity. This uses a wealth of authoritative public and private data sources to instantly locate more real customers with no added friction.
Hard-to-identify populations were then escalated for higher identity assurance with document authentication. These users are asked to capture an image of their identity document, which is then automatically cross-referenced against an extensive library of government-issued documents and analysed for inconsistencies or instances of tampering. This gives legitimate customers from almost any location an additional opportunity to prove their identity, maximizing conversion rates while deterring fraud and bad actors. Coupled with our biometric FaceMatch technology, this provided confidence that the identity being submitted is real and that the individual presenting the identity is the identity owner.
Results
The sports betting client gained unique and immediate onboarding intelligence resulting in an 80% lift in automated approvals of hard-to-reach customer segments.
Our adaptive approach to identity verification via our all-in-one platform offers more ways to verify customers, applying friction only as needed, quickly establishing trust and delivering a positive player experience. This results in reduced identity fraud losses, deterring fraudsters at the point of onboarding or at the disbursing rewards.
As a result of this gaming client’s integration with our API and the introduction of identity data verification and document authentication solutions into the customer journey, we were able to deliver a 13:1 ROI when both solutions were used in conjunction. This resulted in 80% lift in auto-approvals of hard-to-identify populations thanks to the automated solutions negating the need for lengthy manual review processes, improving the customer experience and reducing onboarding abandonment.
