Digital identity verification technology firm Socure has confirmed a new partnership with DraftKings, as the operator deepens its focus on user experience and social responsibility.
Under the terms of the deal, DraftKings will use Socure’s ID+ identity verification suite to complement its compliance measures, enabling it to seamlessly engage its customers across its product suite.
Socure CEO, Johnny Ayers, commented: “Working with DraftKings is a privilege and underscores a significant milestone for us as we continue to expand our presence in the online gaming industry.
“It’s an exciting time to be working with an industry that is growing at such a tremendous pace across the country, while helping online gaming operators meet compliance requirements to ensure continued, unimpeded responsible growth.”
The selection of Socure came off the back of an extended evaluation process, including which included a robust proof-of-concept test showing a frictionless auto-approval rate increase of 4.5% for new users and a 14% decrease in manual reviews.
With an automated digital approach, Socure unlocks scale and speed in customer acquisition with what it describes as ‘industry-leading auto-approval rates.’
Online gaming operators, it added, can grow their customer bases using its decisioning systems that leverage advanced logic, best-in-class depth of data, while providing actionable insights, resulting in the broadest identity data coverage available.
“Socure’s Intelligent KYC passively verifies the identities of qualified players online quickly and accurately, while increasing new player conversions and reducing drop-off rates,” Ayers continued.
“Our Global Watchlist solution works alongside our Intelligent KYC product to deliver true continuous monitoring of player eligibility, resulting in uninterrupted compliance with Anti-Money Laundering (AML) and KYC regulations for online gaming providers.”
Socure’s platform uses numerous data sources, including proprietary data with over 290 million good identities, as well as over seven billion records from credit, utility, telecom, and other authoritative sources to deliver market-leading matching accuracy.
The company is approved to provide services to online gaming operators in Colorado, Illinois, Indiana, Iowa, Michigan, New Hampshire, Pennsylvania, Tennessee, and West Virginia. Additionally, it has filed for vendor status in New Jersey and Virginia.