Growing Gaming Industry Demands Smart Identity Verification | Gaming KYC
The gaming industry has always faced significant threats in terms of customer security and game parameters as it is one of the largest markets, covering USD 56 Billion, and is forecasted to reach a market size of USD 132 Billion by 2030. The industry has primarily developed its base across the majority of nations, which leads to increased threats and more chances of money laundering and illegal financing.
The gaming industry is going through rigid competition, which is the cause of the lack of scalability. Gaming KYC has made it easier for businesses to fight fraud. Online gaming verification with KYC enables customers to have a smooth and trouble-free onboarding process, resulting in increased registrations. The process not only gives a flawless experience to the gamers. But also a reliable experience to the gaming industry in terms of knowing their customers.
Global Risks in Online Gaming and Their Solutions
The global gaming market is distributed into three major segments globally, which are age, group, and region. The Gaming KYC is an essential security measure for the industry. For this purpose, instant gaming verification is the top priority. In particular, mobile gaming has experienced exponential growth in recent years and is predicted to grow more in the future. Furthermore, Asia is the largest and fastest growing regional online gaming market. Thus, these frauds are also escalating at a rapid rate. The current circumstances call for an authentic and reliable gaming KYC procedure.
Proving Digital Identity with Gaming KYC
Solutions for gaming fraud can help operators verify the players or customers without any hurdles. The gaming fraud verification process verifies that the person who is signing up is actually who they claim to be by scrolling data from multiple sources. Gamer identity verification is a little problematic for online casinos, bookmakers, and gambling websites, which is also a good thing.
The players are regularly require to upload documents proving their identification. Such as government-issued ID cards, passports, driver’s licenses, etc. As a matter of fact, digital information such as IP addresses or phone numbers are also utilize to verify players who are signing up for games. This way, by applying gaming KYC, no customer can bypass the security walls and keep the online environment safe and secure for everyone.
Put a Stop to Online Gaming Fraud
All businesses, but particularly the gaming industry, where high addiction levels are observe, bring in the possibility of high-level fraud. Gaming KYC provides full protection to the industry and reduces threats. The online game verification system is a trouble-free and secure way to confirm customers’ identities and a reliable way to keep a record of every customer entering the house of gamers.
There are multiple ways to bypass the security barriers and get through the gamer’s security verification process. If spammers get access to your account or hijack it for some time, they can actually sell the accounts, manipulate or spam other players, or what not. To keep it fair and reliable for every game owner, the gaming KYC is one of the compulsory measures to be taken.
Player ID Verification with Online Gaming KYC
By identifying customers and confirming that their identities are accurate. KYC and identity verification processes are intend to help lower the risks of illegal activity. This allows for the flagging and monitoring of questionable characters. The potential blocking of users who pose a high risk. The benefits listed below are less time-consuming and very efficient in terms of implementing Gaming KYC.
Realtime Monitoring of Transactions
Our transaction monitoring software as a service avoids false positives and allows access to easy-to-use software to the authorities.
AML Onboarding & Monitoring
By checking all of your players for kyc anti money laundering and terrorist activity, the gaming industry can maintain compliance and enjoy peace of mind.
Advance security and authentication I face verification are the rising AI integrated technologies that ensure the persons are who they claim to be.
Global Gaming KYC
A fully automated KYC suite can help you verify the real-world identities of your customers from a number of countries in a matter of minutes.
It is very important to understand the importance of gaming KYC in this vast era of gamers. Their connectivity and affiliation with online gaming platforms. There is a big requirement to keep the gaming companies and the gamers both safe from fraud and unethical attacks on their personal accounts. Gaming is the only best solution for these constraints and threats in the market. identity verification, age verification, code-free integrations, scaling software as per requirements, saving costs with integrated solutions, Seek out red flags proactively. Ongoing monitoring and risk-based CDD are all the needed attributes of gaming KYC.