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New digital currency for the regulated online gaming sector looks to simplify the onboarding process leveraging blockchain technology
LONDON, March 22, 2018 – Jumio, the leading AI-powered trusted identity as a service provider, has partnered with CasinoCoin (CSC), the cryptocurrency specifically designed for the regulated online gambling industry. Jumio will provide real-time KYC/AML-compliant ID verification for users of CasinoCoin’s new Bankroll Manager wallet (BRM), uniquely removing the need for players to verify themselves every time they register with a new operator.
CasinoCoin aims to complement, rather than disrupt, the existing online gambling industry by providing a superior payment solution for the operators it partners with. The CasinoCoin blockchain technology will enable players to complete transactions, in less than five seconds, with one KYC verification within their Bankroll Manager wallet. It will boost operational efficiency for its partner platforms by removing the burden of verifying new players.
Importantly, Netverify®, Jumio’s advanced identity verification solution, will also satisfy regulators by helping CasinoCoin to realise its ambition to create the most complete KYC/AML tracking environment in the industry. Using Netverify ID Verification, new Bankroll Manager users can verify a government-issued ID document via their smartphone or laptop cameras almost instantly, helping them to open an account in seconds.
Anies Khan, Head of Gaming, Jumio, said: “CasinoCoin offers a radical solution to the gaming market, reconciling companies’ desire to provide a smooth user experience with the requirement to comply with strict KYC/AML regulations. Working together, we’re confident that we can support the company in meeting both of these goals, providing benefits for both users and gaming operators well into the future.”
CasinoCoin is committed to promoting adoption and best-use practices of cryptocurrency in regulated gambling markets. As such, it plans to partner exclusively with regulated gambling operators and continue to develop its seamless payment solution, giving its users unprecedented speed and security.
John Caldwell, Director of Advocacy for the CasinoCoin Foundation, said: “Jumio has been supporting organisations in both the online gambling and cryptocurrency spheres for a long time now, and has established a formidable reputation as a KYC partner. This made them the obvious choice for us when seeking out an ID verification solution for our Bankroll Manager wallet. They have played an integral part in helping us create a near-perfect anti-money laundering (AML) environment that utilises Jumio’s latest KYC technology coupled with our new, proprietary AML tracking tool, to provide regulators with the most secure and transparent funding system available today.”
The CasinoCoin Bankroll Manager will be available for customers to download towards the end of Q2 2018.
To learn more about the challenges of customer onboarding in the online gaming industry, download Jumio’s new eBook: Account Opening in the Online Gaming Industry. Jumio commissioned Harris Interactive and iGaming Business to survey active online gaming customers and global gaming operators to understand the importance of mobile onboarding, the perceived and real value of online identity verification and how regulations will shape the future of online ID verification in gaming.
When identity matters, trust Jumio. Jumio is the creator of Netverify® which enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core solutions of ID Verification, Identity Verificationand Document Verification, gaming operators now have a complete solution that allows them to establish the real-world identity of the consumer.
Leveraging advanced technology like artificial intelligence, biometric facial recognition, machine learning, and human review, Jumio helps customers to meet regulatory compliance including KYC, AML and GDPR and tie the digital identity to the physical world.
Jumio has verified more than 100 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the online gaming, financial services, sharing economy, cryptocurrency, higher education, retail, and travel sectors. Based in Palo Alto, Jumio operates globally with offices in the US, Europe, and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.
CasinoCoin (Ticker: CSC) is a cryptocurrency that is being continually developed, specifically with the legal, regulated online gambling business in mind. In addition to world class speed and scalability, CasinoCoin developers are currently working on features that put operators and gambling customers first. KYC (Know your customer), AML (Anti-money laundering), Responsible Gambling and other regulatory first considerations have been built in to CSC at the technology level from the start.
Source: European Gaming Industry News