In 2024, Caf launched Bet ID, a complete solution for bettor authentication and compliance with the new rules. The solution offers a platform in the code, which facilitates implementation and makes the process of adapting to the regulations much faster for companies.
The solution encompasses a specific combination of technologies that together create a user validation flow for bets and allows frictionless onboarding, with access to the data necessary for bettor validation.
These technologies include facial recognition analysis and AI-based proof of life — essential in sectors with high fraud rates, such as gambling, the latest version of Caf’s document scrutiny (document identification and validation) capable of delivering greater accuracy and approval rates, and automated background checks for complete KYC (Know Your Customer) of bettors.
In addition to the databases already used by other industries, the Bet ID solution provides access to information on “Persons Restricted from Betting” that ensures compliance with Law 14,790/23, identifying restricted individuals, such as sportspeople, partners of bookmakers and employees of the Ministry of Finance.
“Bookmakers with simple and effective KYC processes can provide a better customer experience, revenue and gain a competitive advantage,” highlights Caf CEO Jason Howard.
“This ensures that legitimate users are not overwhelmed, which is important for customer retention. In this sense, Bet ID is able to offer a comprehensive and efficient solution, ensuring not only user security, but also optimizing the user experience during onboarding and transactions.”
In terms of the KYC process, Bet ID also offers continuous monitoring of users, allowing the detection of suspicious behavior and prevention of fraud, such as contact appropriations.
Other important features include:
- Digital identity: cutting-edge technology for identity verification, ensuring that users are authenticated in a secure and reliable manner. This contributes to preventing fraud and ensuring the integrity of the betting environment;
- Data protection: with a growing concern for privacy, Bet ID works with strict data protection measures, complying with national and international standards and regulations. This measure will reinforce user trust and ensure compliance with current laws;
- Prevention of money laundering: ensures anti-money laundering monitoring and continuous compliance checks that cross-reference data with databases of discovered frauds and check lists of PEPs (politically exposed persons) and assessments.
Founded in August 2019, Caf offers innovative solutions for identifying and protecting users in the digital environment. Specializing in facial identification and recognition, the company creates security solutions for banks, fintechs, marketplaces, transport companies, 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 names such as Magalu, Cora, OktoPay, Asaas, Winlink and Aiqfome in its client portfolio.
Source: GMB
