Using AI to Limit Fraud in Online Gaming: Slots Temple and Signzy
April 4, 2024
4 minutes read
Within the dynamic landscape of online gaming (iGaming), the prevalence of fraudulent signups is a pressing concern, with rates soaring up to 26 percent (Source). This notably exceeds the rates observed in other sectors such as eCommerce, highlighting the substantial challenge at hand. Using the latest AI technology is pivotal to reduce the risk while providing the best player experience.
Positioned as a vanguard within the gaming industry, Slots Temple recognized the imperative of using technology that will help with operational efficiency, fraud reduction and cost savings. Given the intricacies of evolving gaming regulations and player expectations, the company aspired to streamline processes while upholding the highest compliance standards.
In this pursuit, Slots Temple found a partner in Signzy, the industry leader in identity verification and regulatory adherence. Integrating Signzy’s state-of-the-art technology into Slots Temple’s operational framework brought forth multiple benefits, including; enhanced security, streamlined efficiency and cost-savings
Signzy’s Solution in Action: Crafting a Lean, Cost-Effective
Ecosystem
The partnership includes the following solutions:
Age Verification
Signzy’s age verification solution deploys a blend of methods to confirm the age of players. The user will be instructed to type the date of birth which is then validated across databases and checked with the legal standard for the minimum age requirement.
Mobile Verification
To ascertain device ownership, Signzy’s mobile verification solution sends an OTP to the player’s mobile phone, verifying their possession of the device.
Identity Verification
Signzy’s identity verification solution undergoes a comprehensive check through multiple reliable data sources. It validates the player’s phone number, name, address and geolocation bolstering the integrity of verification processes.
What made the difference to Slots Temple when choosing Signzy
“We believe that the security and safety of our players are of utmost importance,” said Fraser Linkleter, CEO of Slots Temple. “By collaborating with Signzy, we are taking a proactive step to implement cutting-edge verification measures that will not only protect our players but also bolster our platform’s integrity. We are excited about the positive impact this partnership will have on the gaming community.”
Slots Temple turned to Signzy to accurately verify the player age and address, to ensure their players were legally old enough to gamble online and were resident in those US states, where the company could legally operate and achieve regulatory compliance cost-effectively.
Signzy’s platform provided the automated, real-time solution they were looking for. It asks players to submit their details using their smartphone or tablet and an AI algorithm validates the information submitted on the basis of the database checks conducted.
Benefits of the Slots Temple and Signzy
Partnership
The collaboration between Slots Temple and Signzy has brought forth a range of benefits that have positively impacted both companies and the gaming industry as a whole. Here are the key benefits of this strategic partnership:
Operational Efficiency: By integrating Signzy’s advanced technology solutions, Slots Temple has experienced a significant increase in operational efficiency. Streamlining processes like age verification, mobile validation, and telecom checks has led to faster and smoother onboarding procedures for players.
Cost Savings: The partnership has translated into tangible cost savings for Slots Temple. The adoption of Signzy’s efficient identity verification methods has reduced operational overheads, by more than 70%.
Enhanced Compliance: Signzy’s specialized tools have bolstered Slots Temple’s compliance efforts. With sophisticated age verification methods, telecom checks and mobile validations, the partnership has elevated the company’s adherence to FinCEN gaming regulatory requirements, enhancing their overall compliance posture.
Reduce Fraud: Using Signzy’s identity verification platform, Slot’s Temple can identify fraudulent signups by validating the information provided by the player.
Scalability: Signzy’s technology offers scalability, allowing Slots Temple to efficiently handle a growing number of players and increasing verification demands. This scalability ensures that the company can accommodate expansion without compromising on efficiency or compliance.
Read our Press Release with Slots Temple here.
