Identity verification solutions provider AU10TIX has unveiled an all encompassing Digital ID solution suitable for the transition to digital identity.
The system will allow businesses to “rapidly, accurately and securely” verify IDs of all types, including physical, digital, eID and verifiable credentials.
The Digital ID solution works by validating the cryptographic signature and cross checking personal identifiable information displayed on user IDs with government databases.
“Our Digital ID solution empowers businesses to embrace the global shift to digital identity with confidence,” said AU10TIX CEO Dan Yerushalmi. “It combines unparalleled accuracy and global reach with robust security measures to streamline onboarding and minimize fraud risk, all while addressing the diverse array of global ID formats.”
ID verification is a key part of the onboarding process for betting operators to ensure they are compliant with state regulations. Last year NeoGames partnered with AU10TIX to leverage its ID verification services.
According to the company, the new system will enable faster and more accurate identity verification which will enhance completion rate, improve customer experience and drive revenue growth.
Gaming most susceptible industry to fraud in U.S.
A report from TransUnion has found that instances of digital fraud rose in the U.S. gaming industry in 2023 and the sector continues to be the most vulnerable in the country.
The TransUnion 2024 State of Omnichannel Fraud Report found that gaming had the highest rate of digital fraud in the U.S. in 2023 at 10.9%, up from 9% last year. Unlike in the U.S., globally the industry saw a fall of 30% year-over-year.
The most common type of fraud was promotion abuse, wherein people pretended to be other real or fictitious people to take advantage of sign-up offers. TransUnion also found that one in ten global transactions associated with online account creation in 2023 were suspected to be digital fraud where the account was created via the use of fabricated or stolen identities.
