Complying with regulations is key to iGaming success and AI is making it easier

Today, the iGaming industry is beginning to employ much more substantially the KYC (Know Your Customer) process to reduce the costs and risks associated with player acquisition, improve the player experience, and act in compliance with laws and internal policies. This advancement has been highly developed through artificial intelligence (AI) and online casinos want to take full advantage of it. AI-based GetID is a KYC solution that is making it easier than ever for iGaming entities to protect themselves and their customers.

KYC is a process that online casinos and many other companies are using in order to verify the identity and financial information of customers. The main idea is to assess the potential risk, prevent underage gambling, and block financial crimes, such as fraud, corruption, bribery and other aspects that are very common in the gambling industry.

In order to leave all these issues behind, identity document verification and facial biometrics have been proliferating. Online casinos can now take advantage of the tool launched by Estonia-based GetID. With this identity verification workflow creation platform, casinos can provide a better KYC process to all their new players. Players can define their necessary checks, including biometrics, adding more security and fulfilling regulatory requirements. The main objective is to be able to exponentially reduce costs and time while maintaining a high level of security and personalization.

Many players today have to go through tedious processes that could last even days to receive identity verification clearance; however, that may be a thing of the past as AI continues to be implemented on platforms such as these. This would definitely help the iGaming industry grow as being able to provide an efficient process will continue to attract more and more players.