According to IDnow’s UK Chief of Sales Roger Tyrzyk, verification and security must remain top priority for operators even when they immigrate to the metaverse.
In an interview at SBC Summit Barcelona, Tyrzyk said that “it’s only a matter of time” when the metaverse turns into “the biggest revenue stream” for operators.
“We are now creating something that is the virtual world and the costs actually keep going up because companies really see the value in it and how they can reach people from different age groups in a really modern way,” he commented.
“I’ve heard from many operators that they are now researching how they can innovate through the metaverse. A lot of things will come from there that we might also implement in our day-to-day life. If you’re not already researching the metaverse, you’re gonna be far behind.”
But even in the metaverse, finding the balance between protecting your business against fraudsters and simultaneously having the least onboarding friction possible can be tricky, Tyrzyk warned.
“Verifying players is really important and you want it to be as frictionless as possible. However, it’s a really balancing act because we have to look at it in a way where we are onboarding players, but we obviously want the good players to come through and not the fraudsters.
“When you’re balancing friction against security sometimes it becomes a challenge. It would never be perfect, but we can do as much as possible and really optimise it in a way that is really easy. Frictionless is a really big topic because you don’t want players to drop out of your process.”
One of the “really important” ways to stay on top of customer satisfaction and legislative requirements is doing a deep research into the regulations of every market. That’s how Tyrzyk says suppliers should always operate, as their job is to “make it as easy as possible to be able to work in whatever market you are in”.
On the future plans of IDnow, Tyrzyk added: “We’re working very hard to have the most secure but at the same time fast and efficient verification methods for every market there is.
“As an example, we are innovating heavily in Germany with a few initiatives, which is also a digital identity that you will be able to place on your phone.
“At the same time, we’re also looking at the market and thinking how we can bring more value to our customers and how we can make their lives easier.”