Building Digital Profile of a Casino Player: KYC & Payments

By | November 11, 2021

Creating a seamless and safe user experience for players is the ultimate goal of any casino operator. And innovations in the KYC and payments sectors can contribute a great deal to the matter. Check the casino news section for the latest updates from the gambling sector.

At several panel discussions of the SBC Betting on Sports Europe conference, gambling industry experts talked about elevating the digital picture of a casino player and how the fintech sector can contribute.

Experts debated on the use of customer data

According to William Scott, a non-executive director at Warrenside, the relationship between the customer and an operator has evolved in recent years. But although ops now can gather a lot of information about players, the interpretation of this data remains an unsolved issue.

Moreover, in many gambling jurisdictions, when a casino or sportsbook company wants to check the affordability of the player, they can only check if the person can get a loan. It doesn’t give a complete picture of the customer’s financial situation. To get full and unbiased info, Scott has suggested a scoring system that analyzes players’ banking data every 4 hours for approximately 10 seconds and then deletes all info.

Paul Foster, CEO of Crucial Compliance, has added to the topic, stating that the need for trust between an iGaming operator and a casino player has grown significantly. It creates a demand for all kinds of data for the KYC, AML, and payments teams. Operators can get a great amount of info about the customer through third parties or open sources but the companies need daily access to the player’s data to get the affordability lever right.

Sandhya Singh, Head of Operations at Napoleon Sports & Casino, talked about the issue from the operator’s perspective. The expert stated that when it comes to the customer’s data, the casino industry needs to enhance automatization and improve awareness among the players.

Singh has also mentioned that Belgium is soon to implement a new regulation. Under the legislation, each time player rises the deposit limit, ops need to check with the National Bank to decide whether the customer can afford it.  

In addition, the speakers have discussed the Single Customer View – the recent UKGC installment. The experts unanimously agreed that while the idea of a unified database is good, the ownership of the player information should be cleared out.

Payments are a crucial part of casino user’s journey

Payments are a vital part of the player-operator relationship. So, the latest installments in the fintech sector can have a great deal of influence on casino customers.

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