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.
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.
