idwall's solutions help prevent identity fraud, in which a person impersonates another one by registering falsified documents or illegitimate bank accounts.
For deposits over R$200 (US$36,4) or withdrawals of prizes of over R$1,900 (US346), idwall uses Artificial Intelligence to perform identity analyses of Cartola Express participants, with checks capable of invalidating documents due to suspected fraud, files with problems or illegible files.
To achieve this, the company uses a proprietary OCR (Optical Character Recognition) solution, which automatically extracts data and classifies Brazilian documents. Document scanning is another layer of security for the fantasy game, which uses automated methods as well as human analysis with forensic techniques.
“A huge success among football fans, Cartola Express has always valued the transparency of its platform. idwall is proud to have been part of this project since the beginning, contributing to the process of validating the identity of participants, preventing identity fraud and making the environment safe for everyone,” says Lincoln Ando, CEO and co-founder of idwall.
According to Alessandra Lewit, CEO of Cartola Express, creating a safe environment for users has always been a priority for the company.
“Since the beginning of the operation and reaffirming our commitment to Globo's reputation, Cartola Express has been aware of the importance of offering the best responsible gaming experience, thus avoiding possible fraud in the operation. This was only possible because idwall brought its expertise in technology, delivering robust solutions developed to meet the needs of our market,” she comments.
On the rise, the global fantasy sports market is expected to generate around US$ 30.5 billion by 2027, according to estimates from the trends report “Fantasy Sports Market by Product, Platform and Geography – Forecast and Analysis 2023 – 2027”, developed by global TechNavio.
“Betting Law” and mandatory identity validation
Published in December 2023, Law No. 14,790 covers virtual and physical bets, real sporting events, online games, virtual events of games on the internet and fantasy sports. Among the requirements of the legislation is the mandatory validation of the identity and facial recognition of bettors, with technical requirements established in Ordinance No. 722.
idwall offers a security ecosystem that helps companies in the sector to comply with the law's requirements and delivers data intelligence. The technology company has a variety of tools, including document verification, biometric recognition and searches in public and private databases through Background Check, allowing the detection of risks and the prevention of identity fraud.
More than ensuring regulatory compliance, the platform enables an in-depth understanding of user behavior before and during their interaction with betting operators, providing valuable information that can be accessed throughout the customer journey.
Among its more than 400 clients from different segments, idwall also operates in the fantasy games sector, with Cartola Express, and sports betting, in partnership with Eightroom, Play Brands and Right Stakes, among other players.
idwall is a technology company that provides an 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 with proprietary technology to prevent fraud.
Specially for the financial segment, it offers consulting and personalized services to comply with Joint Resolution No. 6, a regulation of the Central Bank and the National Monetary Council that provides for the sharing of data between institutions in the sector.
Founded in 2016 by Lincoln Ando and Raphael Melo, the company aims to create trusting relationships for the digital age.
Source: GMB
