GMB – What does being in Brazil and presenting to the local market mean for IDNow?
Ronaldo Kos – It's a very important moment. IDnow is a company with years of tradition in the market. At the end of last year, we closed some contracts here in Brazil and in Latin America. Among the examples, I mention EstrelaBet, for instance. This led IDnow to decide to heavily invest in the Brazilian and Latin American market. Now, as head of LatAm, my mission is to bring IDnow and our experience in regulated markets to Brazil and Latin America. So, for us, it's a very important moment. Our goal is to protect the market, the player, and the operator. So, when the market regulates itself, what we offer is our experience to help operators protect our market.
How to make the online world a safer place?
Well, with a lot of technology and with a lot of human resources. The company has over 450 employees working day and night to integrate with government agencies, with law enforcement, and with all the document verification structure. Just one example, our fraud head is a former Interpol officer. So, the company invests a lot in people and technology, precisely so that in this digital market we live in today, we bring extra security, an extra layer to protect players, operators, and the market.
What's the secret to combating fraud?
Well, we've been combating fraud forever. Combating fraud is a round-the-clock job and basically requires two prerequisites: responsibility and collaboration. When there is collaboration between the private industry, between service providers, operators, whether they are betting operators, payment operators, whoever, and regulatory bodies, we are on the right path to reach that benchmark we need to have, which is that high benchmark. It's about putting Brazil, which is now in the position to regulate the market, as high as possible, with the best standards, with the best practices. And that's what IDnow wants to bring to the Brazilian market, to the Latin American market.
With all your experience in the global market, is it easy to enter this regulated Brazilian market?
No, it's not easy. We joke that Brazil is not for amateurs. And Brazil is not just one Brazil; it's several 'Brazils'. So, coming to Brazil, as a German company, with a lot of compliance, a lot of structure, and responsibility, to understand the local market and our culture, takes time. But the good thing is that we started back then and learned. I'm here as the Brazilian face of the company and, as I mentioned, with excellent clients like EstrelaBet and Entain.
In other words, we are already very integrated into the Brazilian market and with the advantage of experience in working in regulated markets. When you regulate the market, you put everyone more or less on the same level, which is the highest of the market.
Source: Exclusive GMB
