The implementation will help Coolbet reduce multi-accounting, bonus abuse, and other illicit practices that challenge the iGaming platform’s security
iDenfy, a leading identity verification and fraud prevention company, has announced a new partnership with Coolbet, the award-winning B2C company, known for its innovative online gaming platform. This collaboration enables Coolbet to integrate iDenfy’s automated identity and address verification services, enhance its compliance operations, and reduce fraud risks in the clients’ onboarding process across its global markets.
Coolbet, established in 2016 and headquartered in Tallinn, Estonia, offers a personalized entertainment experience across various areas, such as online casino games, sports betting, and online poker. The company operates under Estonian, Swedish, and Maltese gaming licenses and serves over 1.3 million users across ten markets, including Canada, Sweden, and Chile. With a strong focus on transparency and fair play, Coolbet has built its reputation on delivering exceptional customer care and utilizing in-house technology. However, managing the manual aspects of identity and address verification was proving increasingly complex and time-consuming experience as the platform grew.
According to recent industry data, identity fraud accounted for over 50% of all online fraud cases globally in 2024, highlighting the need for robust and automated verification solutions. In response to this growing threat, Coolbet’s team decided to integrate iDenfy’s identity and proof-of-address verification solution, which are both AI-powered and designed to convert more users. iDenfy’s CEO, Domantas Ciulde, explains that such a switch will immediately benefit Coolbet since its team will have more time and resources to focus on other business development tasks.
As a result, Coolbet can now automate the main KYC process while maintaining strict compliance and delivering a smooth player experience. Teams can easily set rules for acceptable documents such as utility bills, bank or credit card statements, tax documents, and other compliance-related operations, guaranteeing the platform ensures that the user’s address proof is valid and not older than three months. It is worth mentioning that iDenfy’s Know Your Customer (KYC) software also uses advanced biometric and 3D liveness detection technology, including AI-powered document scanning, which allows the ID verification solution to recognize over 3,000 document types from 200+ countries. This ensures fast, secure, and global identity verification in one seamless process.
A key differentiator in iDenfy’s offering is its results-based pricing model, where clients are only charged for successful verifications. This approach helps companies to significantly reduce verification costs without sacrificing reliability or compliance rules. Additionally, iDenfy’s intuitive KYC management dashboard interface allows Coolbet’s team to navigate and manage the verification process with ease and speed which are essential components in fast-paced gaming environments.
It’s worth mentioning that the need for robust identity verification has never been greater. According to a recent study by Juniper Research, global losses due to online fraud are projected to exceed $107 billion by 2029, with identity fraud as one of the primary drivers. In regulated industries like iGaming, where fraud and regulatory scrutiny are growing, having a reliable KYC partner is essential.
“With iDenfy, we found a partner who not only delivers a high-quality product but also supports it with fast, transparent communication from day one. Their user-friendly dashboard, high acceptance rates in our target markets, and efficient support made the integration process seamless. We were able to automate identity and address verification, improving our operational efficiency,” said Endre Nesset, the President of Coolbet.
“We’re thrilled to work with Coolbet, a company that puts transparency and player trust at the heart of its platform. Our mission is to empower businesses to grow securely, and this partnership reflects that. By combining automation with accuracy, we’re helping Coolbet to create a more efficient, fraud-resistant onboarding experience for its global audience,” said Domantas Ciulde, the CEO of iDenfy.
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