Updated: Sep 7, 2022
In a world of 24/7/365 digital access to anything, anytime, the on-demand experience is ingrained in all aspects of modern life, whether at work or play. This need for excitement and instant gratification also applies to the global online gambling and gaming market, which is growing rapidly and is expected to exceed $74 billion in revenue by 2023.
To provide a superior customer experience , is for your online gambling customers to keep busy, and that experience begins as a player creates a new gaming account and continues every time they interact with the gaming site. For gamers, anything that gets in the way of the game can be a hassle, so setting up an account should be convenient, intuitive, quick, and easy. And yet, players also want (and need) to feel secure, which is why gaming operators need to provide an onboarding experience that properly screens each potential player, but in a way that doesn't put them off through a cumbersome process: players have many options and can easily take their business elsewhere.
How can online gaming operators create a great gaming experience while fighting fraud and meeting compliance requirements?
This is where online identity verification comes in. The right solution can be a real game changer as it provides the fundamentals to meet all compliance requirements and streamline an easy and convenient experience. This pleases players and can also save man-hours and a significant amount of dollars.
The right solution allows you to reduce processing time and operational overhead, which translates into a number of revenues:
◾ Verify age with an ID scan, which can determine if it's legitimately issued by the government.
◾ Read and extract data and autofill data fields, saving hundreds of keystrokes on a tiny device. With fewer keystrokes, customers' energy is saved on gaming instead of being wasted on frustrating account setup.
◾ Deliver a final "yes" or "no" decision that delivers a better experience, and reduce the cost of manual verification time.
◾ Liveness detection helps combat one of the biggest threats to online gaming, phishing, and can tell when a person is physically present in vivo when an online account is created.
We've created a new guide, Online Gaming: How to Fight Fraud and Meet KYC Requirements While Providing Your Players with a Winning Experience, to help you understand the key components Understand an identity verification process that allows you to reduce or eliminate verification, speed up onboarding, combat fraud, and meet KYC requirements.
This guide will show you how to:
◾ Perform efficient and reliable KYC verification for online gaming players
◾ Conversions increase and reduce churn and churn
◾ Protect your gaming ecosystem from impersonation and account takeover.