The iGaming industry is proliferating rapidly, but it is also facing increasing regulatory scrutiny. This has made it more difficult for iGaming start-ups to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Traditional KYC and AML checks can be time-consuming and expensive, and they can also be a barrier to entry for new iGaming companies. This is where decentralized KYC solutions come in.
Dencentralised KYC solutions use distributed technology to create a secure and transparent way to verify customer identities. This can help iGaming start-ups to comply with regulations more easily and quickly, while also reducing costs.
One of the most promising decentralized KYC solutions is Togggle. Togggle uses a combination of blockchain concepts and artificial intelligence to provide a fast, accurate, and secure way to verify customer identities. Togggle is offering One-click KYC powered by decentralized / distributed PII storage infrastructure. Togggle's solution provides a perfect fit for iGaming start-ups due to its user-friendly nature and affordability. It caters to the specific needs of these companies while offering a range of features that aid in regulatory compliance. The following features stand out as crucial components of Togggle's offering:
Automated KYC solution for smooth onboarding.
Automated KYC (Know Your Customer) checks are a cornerstone of iGaming operations. As iGaming companies onboard new customers, they are required to verify the identities of their users to prevent fraud and ensure compliance with legal requirements. Togggle's solution streamlines this process by automating the KYC checks. By leveraging advanced algorithms and data analysis, Togggle can quickly and accurately verify the identity of customers, reducing the burden on iGaming start-ups and enabling efficient customer onboarding.
Advanced automated AML checks & scans
Similarly, automated AML (Anti-Money Laundering) checks are vital for iGaming companies to detect and prevent money laundering activities. Money laundering poses significant risks to the integrity of iGaming operations, as it can be used to disguise illicit funds and compromise the fairness of the games. Togggle's solution includes automated AML checks that scan transactions and customer data to identify suspicious patterns and flag potentially illicit activities. By automating this process, iGaming start-ups can ensure compliance with anti-money laundering regulations and enhance the overall security of their platforms.
One click KYC & re-useable credentials
Furthermore, Togggle's solution simplifies the verification process for users with its 1-click verification feature. This feature enables customers to quickly and easily verify their identities, reducing friction in the onboarding process. By minimizing the effort required for verification, iGaming start-ups can enhance user experience, increase conversion rates, and accelerate the growth of their customer base.
Togggle is here to help iGaming & Gamblin Companies
Togggle's solution can help iGaming start-ups to get up and running quickly and easily, while also helping them to comply with regulations. If you are an iGaming start-up, then Togggle is the perfect solution for you. We even offer a specific start up program to get you going. Here are some additional benefits of using a One-click KYC solution with distributed PI storage for iGaming start-ups:
- Increased customer trust: Decentralized KYC solutions can help to increase customer trust by providing a more secure and transparent way to verify identities.
- Reduced fraud: Decentralized KYC solutions can help to reduce fraud by making it more difficult for criminals to create fake identities.
- Improved compliance: Decentralized KYC solutions can help iGaming companies to improve their compliance with regulations by providing a more efficient and effective way to verify identities.
If you are an iGaming start-up, then you should consider using a decentralized KYC solution. Togggle is a leading provider of decentralized KYC solutions, and it can help you to get up and running quickly and easily.