The solution encompasses a specific combination of technologies that, together, create a user validation flow for betting and enable frictionless onboarding, with access to CPF (Individual Taxpayer Registry), email, phone, address, and other personal data.
These technologies include facial biometrics analysis through AI (artificial intelligence) - essential in sectors with high fraud rates, such as gambling, the latest version of Caf document analysis (identification and validation of documents), and gather necessary information for complete KYC (Know Your Customer) of the bettor.
In addition to databases already used by other industries, the Bet ID solution enables access to information on "People Related to Sports," which covers records about exposed athletes in public databases, as well as people related to them. There is also a consultation for "People Prohibited from Betting," ensuring compliance with Law 14.790/23, identifying restricted individuals, their involvement with sports institutions, and providing professional history.
"Sports betting companies with simple and effective KYC processes can provide a better customer experience, boost revenues, and gain a competitive advantage. This ensures that legitimate users are not overwhelmed, which is crucial for customer retention. In this sense, Bet ID can offer a comprehensive and efficient solution, ensuring not only user security but also optimizing the user experience in onboarding and transactions," highlights Caf CEO, Jason Howard.
In terms of the KYC process (Know Your Customer), Bet ID also offers continuous user monitoring, allowing the detection of suspicious behaviors and fraud prevention, such as account takeovers.
Other important functionalities include:
Digital identity: Cutting-edge technology for identity verification, ensuring that users are authenticated securely and reliably. This contributes to fraud prevention and ensures the integrity of the betting environment;
Data protection: With growing concerns about privacy, Bet ID works with rigorous data protection measures, complying with national and international standards and regulations. This measure reinforces user confidence and ensures adherence to existing laws;
Money laundering prevention: Ensures monitoring of anti-money laundering and continuous compliance checks that cross-reference data with known fraud databases and check lists of PEPs (politically exposed persons) and sanctions.
Founded in August 2019, Caf offers innovative solutions for user identification and protection in the digital environment. Specializing in facial identification and recognition, the company creates security solutions for banks, fintechs, marketplaces, carriers, e-commerce, cryptocurrency businesses, and sports betting companies, among others.
With offices in São Paulo, Rio de Janeiro, London, Toronto, Austin, and Venâncio Aires, in the interior of Rio Grande do Sul, the startup has clients in its portfolio such as Magalu, Cora, OktoPay, Asaas, Winlink, and Aiqfome.
Source: GMB
