AI solutions are protecting gaming operators and their customers’ transactions

Today, it is not only the financial sector that needs to verify documentation quickly and securely. More and more businesses are being born 100% digital, and it is highly probable that all of them need to verify the identity of their customers remotely. Facial recognition is positioned as one of the most reliable techniques to incorporate into user registration processes, both for signing up new customers and for providing secure access to personal data in digital processes. Platforms in the iGaming industry are often prone to digital fraud; however, artificial intelligence (AI) is a useful tool to help prevent it.

Different online casinos have a legal obligation to know the identity of their customers to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. These directives ultimately aim to prevent problems such as corruption, illegal financing, money laundering, and digital fraud.

Thanks to AI, iGaming operators are gradually adapting to improve their own efficiency day after day. This is achieved by analyzing certain behaviors and recognizing patterns amidst the various instances of digital fraud. First, there is high processing power. AI systems have the capacity to process high volumes of transactions, as opposed to manually reviewing and preventing transactions.

There is also a more progressive performance. AI performance improves over time, as more and more transactions are analyzed to generate knowledge and efficient responses to potential fraud. Finally, AI, in conjunction with machine learning, has the ability to prevent and combat digital card-not-present (CNP) fraud, chargebacks, account takeovers and transaction laundering, among other types of fraud.