To outrun competitors, it is a must to provide a smooth experience for all new customers. Companies are making services available quickly to ensure the onboarding process is comfortable for customers. Provide a smooth user experience for new customers.ĭespite heavy requirements, the online gambling market is doing a great job of adapting to the new digital lifestyle. Online gambling is a lucrative business, but to keep new users coming and avoid fines, providers must find a way to stay compliant without compromising user experience while onboarding people. After sorting out people who cannot pass by age or other parameters during the identity verification process, it is essential to check each user's history, including things like credit history and presence on sanction lists. The rule to avoid fraudsters is simple: Don't onboard a new customer if you cannot trust them.
Having KYC and anti-money laundering (AML) compliance in place protects online gaming providers from accidentally onboarding fraudsters in disguise - those who pretend to be legit users but have malicious intentions. Staying compliant is the key to avoiding regulatory fines and successfully battling online fraud.
