Industry News
Over 95% of Indians and Indonesians hold digital IDs linked to government databases, making document-free onboarding a promising reality for businesses
Sumsub, an all-in-one verification platform, published its guide, Streamlining identity verification in emerging markets. This new resource will help businesses in the fintech, crypto, gambling and trading industries onboard more users from developing countries, specifically Argentina, Brazil, India, Indonesia and Nigeria.
Here are the top 5 highlights from the guide:
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According to the Sumsub Identity Fraud Study 2022, Nigeria has some of the highest rates of ID forgery in the world. In 2022, Nigeria accounted for 5.4% of fraud detected worldwide, underscoring the challenges for companies onboarding Nigerian users. However, 90 million Nigerians have already registered for a National Identity Number (NIN), which allows companies to verify people without dealing with potentially forged documents;
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The biggest KYC challenges in Argentina are poor quality cameras and photos, which lead to verification failure;
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Online identity fraud is seriously impacting markets in Brazil, including crescent online retail, telecom, finance and banking. More than half of the documents forged in Brazil do not contain MRZs (machine-readable zones), which makes them especially easy to fabricate;
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About 96% of India’s 1.4 billion population are already registered in the country’s biometric ID system, Aadhar; and
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More than 95% of the population of Indonesia has e-KTP cards linked to a government database of citizen identities and biometrics. The country also has the largest and fastest-growing digital economy in Southeast Asia, expected to reach $130 billion by 2025, primarily led by the e-commerce industry.
These countries are embracing key digitalization trends. This is particularly the case for identity verification, where large-scale digital ID initiatives have been replacing paper documents. This means that local users are getting accustomed to database verification, rather than physically scanning and uploading their IDs. Therefore, government databases may well replace document-based verification in the near future, allowing businesses to drastically simplify user onboarding in these regions.
In the guide, Sumsub’s experts cover how document-free verification can streamline user onboarding in developing countries, enabling companies to onboard 2B+ people without asking them to upload their IDs. This method—which Sumsub calls 1click verification—uses government databases to speed up onboarding from 50 seconds to just 4.5 seconds on average, helping improve pass rates by 35% on average. All this can be done without compromising data quality, security and user experience.
“Businesses in the fintech, crypto, gambling and trading sectors can use our guide to learn more about document-free verification, as well as the specifics of national documents, local user habits, fraud trends and AML regulations in developing countries, and more. All this will help navigate the verification landscape in Argentina, Brazil, India, Indonesia and Nigeria, with the right insights to seize market opportunity and deal with local KYC and AML challenges,” said Andrew Sever, co-founder and CEO of Sumsub.
Quantum Gaming, a leading provider of innovative technology solutions for the iGaming industry, has announced the appointment of Phillip Pistauer as its new Chief Operating Officer (COO). Phillip joins the executive board, which includes CEO Oliver De Bono, and Chief Revenue Officer (CRO) Soteris Varnava. Together, this dynamic leadership team is poised to drive Quantum Gaming’s vision of redefining the iGaming landscape.
Phillip Pistauer’s journey in the iGaming industry began in 2013, with a trial-by-fire experience launching a brand on the EveryMatrix platform. This early challenge required him to learn the intricacies of the industry quickly and sparked his passion for the field. Recognising the immense opportunities in iGaming, Phillip strategically relocated to Malta where he joined NetEnt during its commercial expansion.
In 2020, Phillip joined Singular, a Georgia-based company renowned for its advanced platform technology. Initially appointed as Head of Account Management, he later transitioned to Head of Platform following Singular’s acquisition by Flutter International.
As part of Singular’s growth strategy, Phillip assumed the role of Head of Product in March 2024, further solidifying his reputation as a forward-thinking leader in iGaming.
Oliver De Bono, CEO of Quantum Gaming, said: “Phillip has a rare mix of operational expertise and vision for innovation. He’s been through every level of this industry, and it shows in the way he approaches challenges. We’re thrilled to have him on board as we gear up for some big moves this year.”
Among several exciting initiatives within the company, Quantum Gaming is also working on integrating AI-driven solutions to further enhance customer experience and operational efficiency. This AI project, along with others, reflects the company’s commitment to staying ahead of industry trends.
In addition to Phillip’s appointment, Quantum Gaming is expanding its leadership team further with the upcoming addition of a Head of Affiliation, Head of QA, Head of Finance and Head of Sales. These new roles reflect the company’s commitment to strengthening its operations and building a robust foundation for future growth.
Soteris Varnava, CRO of Quantum Gaming, said: “Having Phillip on the team gives us an incredible advantage. He brings a fresh perspective and a proven ability to get things done. With the new leadership hires we’re making, 2025 is shaping up to be a transformative year for Quantum Gaming.”
The post Quantum Gaming Announces Phillip Pistauer as its New COO appeared first on European Gaming Industry News.
SUZOHAPP has announced the appointment of Geoff McDowell as its new President, effective October 1, 2024.
McDowell previously worked at SUZOHAPP from 2010 to 2017, successfully leading the gaming business in Australia and Asia. He rejoins the company from Coinflip, a global digital currency platform, where he was SVP/GM of US Kiosks. Prior to that, he held the position of CEO of Atlas Gaming Pty Ltd, an Australian developer of proprietary gaming content and products.
“We are thrilled to welcome Geoff back to our global leadership team to lead one of our core divisions. His proven track record in growth and strategy execution will be invaluable as we continue to serve our customers and achieve strong results. We also extend our gratitude to Sim Bielak for his years of dedicated service and leadership at SUZOHAPP,” said Drew Scielzo, ACON Partner.
Geoff McDowell is excited about his return and the opportunity to drive SUZOHAPP’s success. “SUZOHAPP is an exciting company with tremendous growth potential and a strong team. I look forward to embracing this new challenge in an industry I am passionate about,” he said.
The post SUZOHAPP Appoints Geoff McDowell as New President appeared first on European Gaming Industry News.
Amusnet has released Showtime Roulette 500x, where entertainment meets innovation. This fast-paced European roulette reinvents the classics, featuring a host who presents, entertains and spins the wheel for a seamless, engaging experience. With every spin, a random multiplier can increase the payouts by 50x, 100x, 150x, 200x, 250x and 500x for a thrilling experience. Showtime Roulette 500x offers a fantastic gaming experience that is sure to entertain and captivate players.
What truly sets this game apart is its groundbreaking customisation capabilities. Leveraging advanced chroma technology, operators can transform the game environment to reflect their unique brand identity. The possibilities are endless, from integrating their logos to designing bespoke background themes. This level of personalisation enhances brand visibility and delivers a tailored, immersive gaming experience that resonates with players, making every session feel distinctively crafted.
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The post Amusnet Releases Showtime Roulette 500x appeared first on European Gaming Industry News.
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