JUMIO
4. The Banking Industry – A Sign of Things to Come? In the search for a solution to this user experience/ security challenge, many operators indicated that they are monitoring and taking their cues from the financial services industry to see how its institutions react to the new regulatory landscape. KYC, AML and Global Data Protection Regulations (GDPR) are just as applicable to banks as they are to online gambling operators and, with a host of new digital-only challenger banks emerging, customers in the financial services industry are becoming accustomed to new technologies that facilitate quick and easy verification online. As one operator told us: “It is… inevitable that it (the online gambling industry) will end up going down the path of banking because… from a regulatory standpoint it is only going to get stricter and more demands are being placed on operators to use the best technology to verify who customers are, both from an AML perspective but also from an underage gambling and responsible gambling perspective.”
Conclusion Although many operators intended to prioritise a solution for the account opening challenge within the next 12 months, our findings suggest that online gambling businesses must act now to protect their customers and their profits. Identity verification technologies, which can incorporate biometrics, computer vision, augmented intelligence and live verification experts, are already being deployed by the world’s leading global gaming operators to accurately verify their players in seconds, rather than hours. These technologies enable new players to capture an image of their government-issued ID document via their smartphone or desktop camera. The authenticity of the ID and the identity of the player can then be verified in real time to ensure a quick and easy user experience for the player. Further, some of the operators in our study
reported that they are already using biometric technology at the account opening stage. Often, this combines facial recognition and liveness detection by comparing a live selfie of the player with the photo on their ID, and by asking them to follow an on-screen icon as it moves in a random pattern. This dual layer of security establishes that the
player is physically present when opening a new account and deters fraudsters who would be reluctant to have their image on file. It also helps operators to rapidly establish an enhanced customer identity profile which can be bolstered further with verification of documents such as utility bills or bank statements for address verification. In an increasingly unsafe online world, and an
ever-competitive online gambling industry, such technologies are crucial in building trust between regulators and operators, and in helping players to enjoy a great, secure user experience that is fit for the digital age.
64 APRIL 2018
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