JUMIO
The Account Opening Landscape
Anies Khan, Head of Gaming, Jumio, highlights the disconnect between operators and players during the account opening stage, and advises operators on how to balance speed and security to deliver the optimum user experience.
T
wenty-five percent of online gambling customers have abandoned an account- opening process because it was too long or too complicated. In today’s convenience- focused digital world it’s difficult to believe
that the industry is allowing a quarter of its new customers to slip through the net due to a poor user experience. But this is the startling reality that gaming operators are facing today. So, as operators contend with the often- conflicting demands for a low-friction user experience and watertight security measures – including compliance with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) mandates – how can they strike the right balance when onboarding new players? To find out, Jumio interviewed 19 European-based
the account openi 1. Winning and L
operators and surveyed 2,164 players living in the UK, Ireland, Italy, Spain, and Sweden. The results, published in The Balancing Act of Account Opening in the Online Gambling Industry (
http://go.jumio.com/online-gaming-report) revealed four key opportunities for operators to hit the account opening jackpot.
ealed four key o
1. Winning and Losing Customers at the Account Opening Stage
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The account opening process is the first oppor
company, and drive profits. To fa
oppo tunity for operators to engage their cust
new players will place bets with the compan
ustomers, maximise the chances that n w pla
To facilitate customer conversion, the user e
user xperience should be swift and str
62 APRIL 2018
straightforward. But our research indicates that operators are falling short at this first hurdle.
40% of respondents claimed that opening an account takes at least ten minutes, and a further 10% claimed that the process takes over an hour. There’s a price tag for these delays: One in five said that they would spend more time gambling online if the sign-up process was less complicated and took less time. Several of the operators that we interviewed
recognised the need to improve in this area. When discussing high abandonment rates around account opening, one manager remarked that “we are doing a lot of work around it… and trying to understand what is driving that.” Resolving this disconnect is urgent considering the customer losses at stake: 54% of players have accounts with more than one company, meaning that the switching costs are low and they can easily be lost to a competitor who delivers a better customer experience.
2. The Sizable Opportunity of Mobile Onboarding The high penetration of mobile devices in Europe has redefined the way we shop, travel, bank and pay, and the online gambling industry should be no different. 26% of respondents already take part in online gambling when out of the home, and more than four in ten preferred to use a mobile device because it allowed them to play anytime, even when on the move. Despite this appetite for mobile, desktop remains the dominant channel of choice, with 64% of players claiming that they use it ahead of mobile websites (38%) or apps (31%). When asked to explain why, our respondents suggested that the user experience was more convenient when playing on a desktop than on a mobile. 60% said that it was easier to read on-screen
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