Industry News
Over 95% of Indians and Indonesians hold digital IDs linked to government databases, making document-free onboarding a promising reality for businesses
Sumsub, an all-in-one verification platform, published its guide, Streamlining identity verification in emerging markets. This new resource will help businesses in the fintech, crypto, gambling and trading industries onboard more users from developing countries, specifically Argentina, Brazil, India, Indonesia and Nigeria.
Here are the top 5 highlights from the guide:
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According to the Sumsub Identity Fraud Study 2022, Nigeria has some of the highest rates of ID forgery in the world. In 2022, Nigeria accounted for 5.4% of fraud detected worldwide, underscoring the challenges for companies onboarding Nigerian users. However, 90 million Nigerians have already registered for a National Identity Number (NIN), which allows companies to verify people without dealing with potentially forged documents;
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The biggest KYC challenges in Argentina are poor quality cameras and photos, which lead to verification failure;
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Online identity fraud is seriously impacting markets in Brazil, including crescent online retail, telecom, finance and banking. More than half of the documents forged in Brazil do not contain MRZs (machine-readable zones), which makes them especially easy to fabricate;
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About 96% of India’s 1.4 billion population are already registered in the country’s biometric ID system, Aadhar; and
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More than 95% of the population of Indonesia has e-KTP cards linked to a government database of citizen identities and biometrics. The country also has the largest and fastest-growing digital economy in Southeast Asia, expected to reach $130 billion by 2025, primarily led by the e-commerce industry.
These countries are embracing key digitalization trends. This is particularly the case for identity verification, where large-scale digital ID initiatives have been replacing paper documents. This means that local users are getting accustomed to database verification, rather than physically scanning and uploading their IDs. Therefore, government databases may well replace document-based verification in the near future, allowing businesses to drastically simplify user onboarding in these regions.
In the guide, Sumsub’s experts cover how document-free verification can streamline user onboarding in developing countries, enabling companies to onboard 2B+ people without asking them to upload their IDs. This method—which Sumsub calls 1click verification—uses government databases to speed up onboarding from 50 seconds to just 4.5 seconds on average, helping improve pass rates by 35% on average. All this can be done without compromising data quality, security and user experience.
“Businesses in the fintech, crypto, gambling and trading sectors can use our guide to learn more about document-free verification, as well as the specifics of national documents, local user habits, fraud trends and AML regulations in developing countries, and more. All this will help navigate the verification landscape in Argentina, Brazil, India, Indonesia and Nigeria, with the right insights to seize market opportunity and deal with local KYC and AML challenges,” said Andrew Sever, co-founder and CEO of Sumsub.
casino games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Group’s proprietary technology and platform, the launch marks a significant step in the brand’s international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Group’s proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said “We are thrilled to launch BetMGM in the Netherlands and build on BetMGM’s successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.”
Gustaf Hagman, Group CEO at LeoVegas Group, said “Our launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.”
The post BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market appeared first on European Gaming Industry News.
Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5×3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
The post “Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming! appeared first on European Gaming Industry News.
Industry News
NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards
NuxGame, the experienced betting and casino software provider, has been recognised at this year’s EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGame’s status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGame’s aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: “The EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
“It’s fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.”
The post NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards appeared first on European Gaming Industry News.
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