iDentify is a US-based verification platform. It has collaborated with a consultancy in high-risk sectors like iGaming, iGaming Express to optimize client verification flows.
iGaming Express targets to give users with a suite of services through integration of AI-powered verification software of iDenfy. This includes licensing support and business planning. It also offers legal advice on numerous compliance matters, such as KYC (Know Your Customer) regulations. The services are tailored to meet the industry-specific needs of its clients.
In industries like online gambling, fraud schemes often involve complex identity manipulation and cross-border financial crimes. This makes identity verification a mandatory feature.
Statista projects that the cost of online fraud will surpass USD 100 billion by 2029. Identity fraud plays a significant role in contributing to global financial losses.
iGaming Express aims to strengthen client trust and compliance through innovative and precise technologies. The platform seeks a fully automated KYC solution to tackle these challenges without compromising customer experience. To achieve this, iGaming Express partnered with iDentify to integrate its identity verification solution and optimize remote onboarding for its partners. This collaboration addresses the need to scale globally while meeting the diverse needs of different clients.
Through integrating the identity verification software of iDenfy, the company can give its clients with real-time biometric authentication, as well as document verification across 200 countries. The automated system validates user identities by secure facial recognition and cross-referenced document checks, helping to eliminate fraud through detecting fake or duplicate identities.
iGaming Express plans to incorporate AML (Anti-Money Laundering) screening and KYB (Know Your Business) tools. This will further expand its due diligence processes.
iDenfy announced in April that its collaboration with Coolbet to augment KYC, automate onboarding, and fight fraudulent activities for an improved player experience. The implementation was expected to optimize how Coolbet reduced multi-accounting, bonus abuse, and other illicit practices that challenged the security of the iGaming platform.
