G2E PREVIEW OCR Labs
All–time high industry growth requires scalable solutions – can your ID verifi cation vendor scale with you?
W
ith the US online gambling sector in high growth, annual commercial gaming reached a new record of $53.03 billion in 2021*. The challenge of ensuring players make it past the identity verifi cation process is key. We hear that industry fi rst pass rates can sit at around 70% which
means operators are either losing or moving 30% of players to a second wash which can be an expensive and laborious process. This is where a fully automated approach to identity document verifi cation steps in, as compared to agent-based approaches, direct feedback is given to the user during the process to capture the images needed of the document and person presenting them. We experience fi rst past rates above 90% with the process taking seconds rather than minutes (or more) that agent involvement equates to. The number of identity theft, fraud and other reports have increased
dramatically over the past few years in the US with 5.7 million reports of identity theft and fraud, up from 4.7 million in 2020. With a $500 median loss, the cost to victims is growing as we become more digitally dependent**. Identity fraud is becoming its own pandemic and with the gambling industry often being the training grounds for fraudsters before they attempt to take on the banking industry we need to ensure that the technology used to protect players and operators is of the highest grade and has the ability to learn new fraud techniques. Finding a supplier that can let players in fast with the least friction possible whilst keeping the bad actors out is a hard balancing act. Through fully automating the experience we are able to give direct feedback to users to capture the best images as they are analysed in real time to ensure a smooth process. Alternatively, when it comes to stopping fraud attempts (whether it be document or liveness based) the process continues to ask for real examples of documents and the person that owns the document to frustrate bad actors. This isn’t possible for agent based approaches as both transactions end up in the same queue for review. Automation also brings consistency at scale. Every document receives the same level of advanced fraud analysis whilst during the liveness check we apply our own proprietary technology to detect deep fakes, screens, printouts and more - plus the technology continues to learn new techniques in real-time. We are a technology fi rst company. We build everything ourselves with the mantra that anyone, anywhere, anytime should be able to access services that require identity verifi cation. We do not plug in third parties technology to fi ll gaps or use human agents to make up for failed automation. OCR & Document Recognition, Document Fraud Assessment, Liveness and Face Matching all tuned to work together at the highest levels. We own 100% of the technology so we can keep pace with industry demands such as compliance, user experience and fraud detection. All signifi cant to the success of any gambling operation. If you would like to experience our technology for yourself and see the
step change that fully automated identity verifi cation is bringing to the US gambling market then please reach out to us at
hello@ocrlabs.com.
*
https://www.americangaming.org/resources/state-of-the-states-2022/ **
https://identitytheft.org/statistics/
50 SEPTEMBER 2022
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