KYC: The invisible obstacle that can take away your victory in Brazilian iGaming

In iGaming, where every second matters, the KYC (Know Your Customer) process can be compared to a pit stop in a high-performance race. While essential, if this process is slow, it can compromise the entire operation, leaving your platform off the podium.

Investing in marketing, technology, and new games won’t solve the problem if identity verification is slow. The result? Lower conversion rates, frustrated new users, and, of course, lost revenue.

The ripple effect: How a slow KYC process hurts your entire operation

When KYC fails to be fast and efficient, the entire operation suffers. Identity verification is the first point of contact with the customer, and delays in this process can create a ripple effect that impacts multiple areas.

• First Impact: Users take longer to start playing, reducing conversion rates.
   
• Secondary Impacts: Delays in KYC can lead to platform abandonment, resulting in lost potential depositors.
   
• Final Impact: Investments in marketing and advertising may be wasted as users fail to complete registration.

As a result, frustration caused by a slow KYC process can even create a negative brand image. Dissatisfied users are likely to share their negative experiences, damaging your reputation in the market.

The cost of slowness: How every extra second in verification reduces your revenue

Every second lost in the verification process has a price. When KYC is slow, waiting times increase, and with them, the risk of customer abandonment.

Studies show that conversion rates drop significantly with verification delays:

• Conversion Rate: A slow KYC process can reduce new user conversion rates by up to 30%.
   
• Abandonment: The longer the verification process takes, the higher the chance users will give up before completing it.
   
• Financial Impact: Every extra minute in the process means lost potential depositors, directly impacting revenue.

Furthermore, delays in verification directly affect marketing strategies and customer acquisition. The speed of KYC is directly linked to your platform’s success, as a continuous flow of new depositors ensures steady growth.

Performance optimization: Turning your pit stop into a competitive advantage

Legitimuz: Turn your pit stop into a competitive edge in iGaming

Imagine a pit stop as fast as a Formula 1 car. Legitimuz makes this a reality by transforming your KYC process into a competitive advantage with fast and efficient verification solutions.

This is possible because the platform offers:

• Real-time verification: The process takes less than 30 seconds, allowing new users to complete verification quickly.
   
• 99% approval rate: The platform guarantees the highest conversion rate in the market. Of the 80% who complete the process, 99% are approved.
   
• High performance on older mobile devices: Works well even on older phones, ensuring accessibility for all users.
   
• Acceptance of various digital documents: Allows multiple document types, making the process agile and flexible.

These factors are essential in a competitive market like Brazilian iGaming, where optimizing KYC means reducing costs and increasing operational efficiency.

With over 100 brands in the federal regulated market and more than 60% market share in Brazil, Legitimuz stands out for its efficiency, security, and compliance.

It automatically adapts to demand, scaling as needed without manual intervention, ensuring continuous availability with no interruptions.

Additionally, Legitimuz simplifies integration with other platforms. When a user completes KYC on a partner platform, they don’t have to repeat the process on others.

They only need to send a selfie to confirm their identity, making the process even faster and more convenient.

Click here to learn more.

Source: Legitimuz