The gambling industry is estimated to be worth 50.7 billion US dollars as of 2017. Identity checks are a vital element of any gambling registration process, but relying on current, outdated data sources can lead to you missing out on potential users and millions in revenue.
Is big data identity verification the future?
There are consumers who will (and do) visit your website or your app, go through registration, and then drop off due to an inconvenient and drawn-out signup process such as requesting copies of driving licenses. Even losing 10% of potential players because of this can radically harm your revenue, something which is avoidable by implementing the right tools to optimise registration processes.
Smart phone penetration is predicted to reach 70% by 2020, and, by 2018, the mobile gambling industry is expected to be worth $100bn. The mobility that these devices provide to customers, and the rise of publicly available Wi-Fi, enables them to play anywhere, resulting in an increase in user demands for convenience and efficiency, with quick verification processes being a particularly vital part of the user experience for time-dependent bets or offers.
Technology is sufficiently advanced to no longer have to rely on traditional data sources alone. Digital data is expected to reach 180 Zettabytes by 2025 (up from 4.4 in 2013) and but, at present, less than 0.5% is ever analysed and used.
With 2.5 Exabytes (or 2.5 billion gigabytes) of digital data is produced every single day, why continue to rely on outdated data sources alone when there are solutions available that leverage this digital data to enable quicker, more user-friendly verification processes?
Big data analytics software can be utilised to verify identity and detect fraud to ensure that safe and genuine customers are seamlessly and quickly authenticated. Our solution PROFILE provides an efficient and modern form of ID verification by harnessing a customer’s existing digital footprint to drastically improve the user experience. Following consent from the user, in simple terms PROFILE assesses both the quality and quantity of data available about an individual, ensuring it is consistent, meaningful and real. This use of big data can determine whether an individual is who they claim to be, in real-time, without affecting the experience of the gamer.
With PROFILE, you will supplement traditional data with the user’s digital footprint to enhance existing verification processes. PROFILE will be just as accurate and work just as well regardless of where in the world the player is.
PROFILE is revolutionising the way that the gaming industry verifies identity. With clients already seeing 63% uplifts in ID verification on thin-files versus traditional processes, PROFILE will drastically improve your odds of success in a crowded and competitive market.