Among its more than 400 clients in diverse segments, idwall already operates in the betting sector in partnership with players such as Eightroom, Play Brands, and Right Stakes.
The recent regulation addresses a lottery, gaming, and betting market that is already highly successful, generating over R$ 120 billion (US$ 23.65bn) annually. Among the new requirements to be enforced by the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance is the mandatory adoption of controls for validating the identity of bettors, requiring the use of identification and facial recognition technology in accordance with personal data protection legislation.
idwall's Know Your Client (KYC) solution for the gaming and betting segment provides document verification tools, biometric recognition, and information searches in public and private databases via Background Check for risk detection and identity fraud prevention.
More than just compliance with legislation, the platform allows understanding of user behavior before and during the relationship between them and the betting operator, information that can be stored and revisited throughout the entire journey.
"We are in constant contact with associations and sector representatives to update technical aspects and meet the needs of each business, in a personalized manner," explains Raphael Melo, COO, and co-founder of idwall.
An important advantage of the tech system lies in detecting possible users linked to sports professionals, such as athletes and coaches, blocking the entry of bettors who may influence the outcome.
The company mitigates risks and losses caused by the creation of dummy accounts by specialized gangs in the sports system, which can also be generated to take advantage of coupons offered in promotions by the betting company. The solution reduces efforts and resources dedicated, automates processes, and has a low impact on the experience.
idwall is a technology company that provides identity verification, risk management, and digital onboarding platform. A market reference in integrated and intelligent solutions, idwall streamlines the identity verification process throughout the customer journey and helps companies comply with compliance standards using proprietary technology to prevent fraud.
Especially for the financial segment, the firm offers consulting and personalized services to comply with Joint Resolution No. 6, a regulatory of the Central Bank and National Monetary Council that provides for data sharing among sector institutions. Founded in 2016 by Lincoln Ando and Raphael Melo, the company aims to create trust relationships for the digital era.
Source: GMB
