Jumio report shows digital identity tools could improve online gambling account opening process

More than one in four online gamblers has given up attempting to open an account because the process was too long or complicated, according to a new report from Jumio.

“The Balancing Act of Opening an Account in the Online Gaming Industry” shows that the account opening process takes 10 minutes or longer for more than 40 percent of respondents, and longer than an hour for 10 percent.

There are four key opportunities available to online gambling operators to improve customer experiences while maintaining operational efficiency and complying with KYC/AML requirements, according to the report. Improved customer onboarding, mobile experience, and identity verification, as well as taking cues from banking regulations can help them grow their businesses through improved conversion rates and increased gambling activity. Customers preferring the mobile channel for online gambling made up 39 percent of respondents, and 29 percent of them reported being discouraged from playing by a lengthy sign-up process.

“Sixty-seven percent of respondents in the Jumio study stated that a gaming operator’s ability to positively identify its customers is as important as providing security from hackers and having a solid privacy policy,” says Robert Prigge, Chief Revenue Officer of Jumio. “But customers don’t want to be put through time-consuming processes to achieve this level of identity assurance. When you combine these customer expectations with increasing security and compliance mandates, it is clear that gaming operators must look for ways to streamline the identity verification process to get good customers playing sooner.”

Jumio recommends gambling operators implement digital identity verification tools to meet the goals of improved customer experience, operational efficiency, and compliance with security mandates.

As previously reported, Jumio recently announced that 2017 was its strongest year ever in terms of revenues and transctions.

Article Topics

AML  |  biometrics  |  digital identity  |  facial recognition  |  gambling  |  Jumio  |  KYC  |  market report