From 72 Hours to Two Minutes -- How Jumio Is Slashing On-Boarding Times for 888.com
Online Gaming Giant Turns to Jumio's Netverify to Get Customers On-Board Quickly While Still Remaining Fully KYC- and AML-Compliant
PALO ALTO, CA and LONDON, UNITED KINGDOM--(Marketwired - Sep 20, 2016) - Jumio, the leader in digital ID verification, today announced that it is helping gaming market leader, 888.com, automate the document checking process for both new and existing customers, slashing both costs and time.
The online gaming market is highly regulated with both operators and authorities working hard to reduce fraud and keep gaming a clean and safe place for gamers to enjoy.
A critical component is ensuring new gamers are who they say they are. Russell Medley, Director of Fraud and Risk Management, 888.com, explains:
"888.com is a global company and works in a multitude of markets with specific regulations surrounding know-your-customer (KYC) and anti-money laundering (AML) compliance for each market. Working under various regulations such as the UK, Italy, Spain, Denmark, and most recently Romania, often entails receiving identity documentation from prospective members, and is central to our compliance within each jurisdiction."
As part of the processes to accomplish this goal, 888.com was previously using an in-house system that required gamers to take a photo or scan an image of their government issued ID and upload it directly to 888.com. The images were then manually checked by 888.com staff, with the whole process taking up to 72 hours.
"The manual process was very time consuming and there was concern that we were losing customers due to them losing patience with the process," Medley said. "In addition, there were added overhead costs which presented barriers to expansion -- each country we wanted to expand into meant additional overheads to manually process the documents."
After thorough market research and a robust selection process, 888.com identified Jumio's Netverify® as the best solution for their business requirements. Netverify allows customers to simply scan their ID with their laptop or mobile device. The scans are then swiftly verified with the whole process taking no more than two minutes.
"Jumio enables us to cut the time it takes to verify new customers from days to seconds, through the ease of submitting documents via their document verification tool," Medley said. "This facilitates the company's further expansion, while also assisting us to remain fully compliant with KYC and AML legislation in all of the relevant jurisdictions."
"Jumio is solving the challenges faced by the online gaming industry including meeting regulatory requirements for KYC and AML, without impacting user experience," said Philipp Pointner, VP Products, Jumio. In a highly competitive market, operators who can provide the best experience, starting at on-boarding, are the ones who will thrive. We are pleased that we are able to assist a company the stature of 888.com not only maintain but grow its impressive market share."
Jumio delivers the next-generation in digital ID verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience. Jumio uses computer vision technology to verify credentials issued by over 200 countries in real time web and mobile transactions. Jumio's solutions are used by leading companies in the financial services, sharing economy, retail, travel and online gaming sectors. Based in Palo Alto, California, and Funded by Centana Growth Partners and Millennium Technology Value Partners, Jumio operates globally, with offices in the US and Europe, and has been the recipient of numerous awards for innovation.
For more information, please visit www.jumio.com .
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