Sports Betting Operator StakeMate Launches TrueLayer’s Signup+ in the UK

• The partnership makes StakeMate the first UK iGaming operator to offer automated account creation through open banking APIs.
• Signup+ enables operators to accelerate onboarding with a single deposit, allowing users to verify their identity within seconds.

TrueLayer, Europe’s leading open banking payments network, today announced that sports betting operator StakeMate is live using TrueLayer’s onboarding product, Signup+. The move makes StakeMate the first United Kingdom (UK) iGaming company to leverage open banking APIs for automated player sign-up.

Players in the UK can now benefit from a fast, smooth and secure sign-up experience using Signup+ compared to manual onboarding.

Signup+ combines account creation with making a payment to streamline the sign-up process. It uses bank-sourced data to verify a user’s name, address and date of birth in seconds to speed up KYC compliance; all done with one quick deposit from a user’s online bank.

StakeMate players can now verify their identity and create an account in a few quick steps. Funds are instantly available in the user’s account so that they can start using the StakeMate app right away.

The partnership comes as more and more players demand smoother and more efficient onboarding. Four in ten UK users start creating an account but don’t complete signup, according to research from TrueLayer and YouGov. 37% of players drop off because the process takes too long while a further 25% abandon onboarding due to excessive manual data entry.

“We are constantly looking for ways to reduce user friction while maintaining a high degree of regulatory compliance,” the founder of StakeMate, Arya Tayebi, said. “Signup+ has enabled our users to have arguably the fastest sign-up and deposit experience in one go.”

“We’re thrilled to see StakeMate leverage TrueLayer’s Signup+ technology to enhance user onboarding,” the Vice-President of iGaming for TrueLayer, Roberto Villani, said. “This collaboration demonstrates our commitment to revolutionizing the iGaming industry, ensuring seamless and secure access for players. TrueLayer is excited to support StakeMate in delivering a next-level betting experience.”