FourStop GmbH ("4Stop"), a leading global KYB, KYC, compliance and fraud prevention provider discusses its product innovation to support social responsibility within iGaming.
The iGaming industry revenue soared to USD 66.67 billion in 2020, as consumers turned towards the online platform to bridge their financial, social, and psychological crises during lockdowns. The industry is going through a revival and is expected to grow to USD 127.3 billion by 2027.
With 96 percent of online gamblers preferring to play at home and the surge in engagement, it is becoming an online gaming trend to implement social responsibility. While gambling yields pleasure to some consumers, it can harm pathological gamblers and their environment. Ensuring players have the proper mental health and finances to continue their gaming experiences is critical for the industry's long-term lifetime values.
"With the evolutional spin experienced in the industry, ensuring social responsibility is of high importance. We are very pleased our technology with customisable marketplace frameworks allows businesses to effortlessly configure their tailored social responsibility programs in a future-proofed manner," states Ingo Ernst, CEO, 4Stop.
4Stop's data and risk marketplace is a global end-to-end KYC, compliance and anti-fraud solution, regardless of industry or region. With the garnered attention iGaming is experiencing, 4Stop enhanced its risk technology and established a complete social responsibility package from one API. A primary feature includes 4Stop's built-in behavior tracking and monitoring technology. Within the robust risk engine, businesses can configure various rules with dynamic system actions to automatically evaluate payment deposit methods, deposit and payout behavior against associated timeframe intelligence. If at anytime a configured threshold is triggered to signify problem gambling engagement, they have the agility to automatically apply their desired system actions and marketing communication to protect the player and their brand.
4Stop is home to over 120 data services and calls upon a few of them to support this solution package including device ID, email verification, geo and IP checks and more. Device ID intelligence allows businesses to see when multiple devices are at play instantly. Email age verification can identify when a player is attempting to configure a new online identity to bypass social responsibility gaming rules. Another KYC check that could be bolstered to the package and available in select countries is the "proof-of-funds" check that works excellent for check and direct bank deposits. However, many online gaming companies are experiencing a dramatic increase in cryptocurrency deposits and payouts and, therefore, put more emphasis on the multi-level KYC checks and advanced risk rule configurations.
Additionally, 4Stop has recently launched its 4Score, an innovative orchestration of data analysis output consisting of multiple risk scores, including the risk engine score, data service output score, the confidence score and the harmonised score. 4Stop has also established a social responsibility score that considers the KYC data checks, behavior patterns, transactional engagement monitoring and the risk engine score.
Learn More: Visit 4Stop at SIGMA, Booth B69, or visit 4stop.com.