Regulating the sports betting market is a crucial measure to guarantee the integrity of sports competitions and protect users from illegal practices. In this context, KYC and facial validation solutions have stood out as essential tools to help bookmakers meet new legal requirements and provide greater security to their users.
SPA/MF Ordinance No. 722 brought new guidelines for operators, requiring user identification to validate identity, act to prevent money laundering and promote greater transparency.
Through the integration of the Exato Digital solution, bookmakers can ensure compliance with current regulations, preventing minors, public agents with duties related to sector regulation and other restricted people from placing illegal bets.
Furthermore, facial validation technology allows users to verify their identity quickly and securely, reducing the risk of fraud and ensuring a reliable experience for customers.
For Pay4Fun, the first payment institution operating in the sports betting sector to receive authorization from the Central Bank of Brazil, the launch of Exato Digital represents a significant advance in adapting to the regulation of the sports betting market.
“It is extremely important that bookmakers comply with current regulations, protecting users from illegal practices and offering a safe and transparent environment for betting. I believe that Exato Digital's solution will help operators in this diligence," highlights Camila Caresi, risk and compliance director at Pay4Fun.
“With our technology for identity validation and facial validation, we are establishing a new standard of security and reliability, protecting both operators and consumers from risks associated with illicit activities and fraud," says Ricardo Destaole, CSO at Exato Digital.
By implementing these innovative solutions, bookmakers can not only comply with legal requirements, but also strengthen their reputation in the market, offering a safe and transparent environment for users.
Exato Digital is committed to helping companies in the sector face regulatory challenges and build a solid foundation for the sustainable growth of the sports betting market in Brazil.
Exato Digital is a startup founded in 2019 to simplify and democratize data checking/background checking in Brazil, being the only one with a self-service model. The platform helps individuals, small entrepreneurs and startups to large corporations verify customer and partner information so they can conduct business more quickly and securely.
The mission is to popularize background checking so that any person or company can verify customers, suppliers, job candidates, employees, among others in a safe, fast and accessible way.
Source: GMB
