Jumio technology helps leading GameTech company reduce bank account verification process by 10x with an 87% approval rate
Jumio, the leading provider of automated, end-to-end identity verification, risk assessment and compliance solutions, has partnered with Kaizen Gaming, the global GameTech powerhouse, to streamline its verification processes.
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Jumio has partnered with Kaizen Gaming to streamline its verification processes. (Graphic: Business Wire)
Kaizen Gaming is committed to providing a great user experience based on all regulatory requirements across markets, and the company's vision is to fully automate all KYC and KYT (know your transaction) processes. However, an automated bankbooks/IBAN (international bank account number) verification process was something that the company wanted to invest in. Until early Q4 2023, Kaizen Gaming's KYT verification process was only around 30% automated, meaning that their operations department had to manually perform 70% of the checks, resulting in a huge backlog when customers requested payment withdrawals.
The Jumio rollout started in November in Portugal, with plans to use the same process for all of Kaizen Gaming's existing and new markets. In the short time Kaizen Gaming has been using Jumio, bankbooks/IBAN verification time has been reduced to 4.5 minutes or less, while more than 60% of these transactions are now automated.
"Jumio and Kaizen Gaming have partnered while our company's expansion project is taking place, and the KYT volumes are rapidly growing," said Georgios Alexandros Balafoutis, Kaizen Gaming's Senior Product Manager of Customer Account and Services. "Their solution has added great value to our KYC and KYT automated processes, giving us a competitive advantage across Kaizen Gaming's markets, while offering a safe, fraud-free, and rapid withdrawal flow to our customers."
Jumio is the #1 identity solutions provider to gaming operators and sportsbooks around the world, including 9 of the 10 largest operators in Europe and several of the largest U.S. sportsbooks. Jumio's industry-leading identity verification solutions are tailor-made for gaming, helping operators like Kaizen Gaming simplify the registration experience, detect online fraud, fight account takeover and meet compliance mandates.
"We're very proud to partner with Kaizen Gaming to help them offer a more streamlined, safe and automated KYC and KYT experience to their global customer base," said Emeka Ezeyi, Jumio's Global Head of Gaming.
ICE London attendees are invited to visit Stand N8-330 to learn more about Jumio and its award-winning, AI-powered solutions.
About Jumio
Jumio helps organizations to know and trust their customers online. From account opening to ongoing monitoring, the Jumio platform provides advanced identity verification, risk signals and compliance solutions that help you accurately establish, maintain and reassert trust.
Leveraging powerful technology including automation, biometrics, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps you fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC and AML. Jumio has processed more than 1 billion transactions spanning over 200 countries and territories from real-time web and mobile transactions.
Based in Sunnyvale, Jumio operates globally with offices and representation in North America, Latin America, Europe, Asia Pacific and the Middle East and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners.
For more information, please visit www.jumio.com.
About Kaizen Gaming
Kaizen Gaming is one of the biggest GameTech companies in the world. With a focus on Technology and People, it aims to continuously evolve the betting experience it offers to millions of customers around the world and entertain sports fans in a fun and responsible way.
Kaizen Gaming owns the premium online sports betting and gaming brand Betano, with an established presence across markets in Europe and Latin America. It has also recently entered Africa and North America through launches in Nigeria and Ontario. The company employs more than 2,300 people across the globe.
The company has been recognized as a leading player in the global sports betting and gaming market, having received several industry awards, including a world first of five trophies in a single year at the 2023 EGR Operator Awards ("Sports Betting Operator of the Year", "Marketing Campaign of the Year", "Mobile Sports Product of the Year", "In-House Product of the Year" and "In-Play Sports Operator of the Year").
View source version on businesswire.com: https://www.businesswire.com/news/home/20240205018204/en/
Contacts:
For Jumio
Harriet King
FleishmanHillard UK
harriet.king@fleishman.com
+44 7765673794
For Kaizen Gaming
John Keimalis
Corporate Communications PR Manager
john.keimalis@kaizengaming.com
