KYC And Identity Verification at an Online Casino

Customer identification is an important part of the game at bookmakers and casinos. The check is used in order to make sure that the player’s identity matches the passport data that one provides. It is also imperative for customer comfort and safety.

In this review, we will focus on the process of admitting customers to play at realcanadianslots, as well as how to check the license of a gambling establishment. If you want to rest assured about a quality and safe game at an online casino, then this post is for you.

KYC – Know Your Customer

The KYC procedure obliges all financial institutions, including online casinos, to identify and verify the identity of each client. Moreover, this must be done before one can conduct financial transactions. This protects companies from the risk of dealing with fraudsters and ensures the safety of clients’ assets. Once upon a time, it was only the internal policies of each company, but for about 5 years now, KYC has established itself as a clear legal practice.

Online casinos have the right to determine the stages of verification themselves, but here are the required user data:

  • Full name;
  • Date of birth;
  • Email;
  • Phone number;
  • Country and address of residence;
  • ID (passport, driving license, etc.).

It will not be enough just to provide the data. The phone number must be confirmed with a one-time code from SMS; passport data can be proven with a photo of documents and selfies with them, address of residence, etc.

What Levels of KYC Policy Exist in Online Casinos?

Due to different and vague regulations around the world, there are many KYC levels that are used by different platforms.

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Lack of KYC

Platforms that do not use any KYC procedures. They will not ask you for identification documents, but they may impose severe restrictions or other conditions.

Basic KYC Procedure

Basic KYC will allow you to perform minimal transactions on certain exchanges although you will likely need to provide certain personal information first. This type of KYC usually allows you to use bank cards to deposit and withdraw funds at online casinos, with the payment provider and site sharing your info.

Complete KYC Procedure

By providing complete documentation and KYC information, users usually have full access to the functions of a gambling establishment. These online casinos usually ask for a photo ID along with a utility bill or bank statement issued within the previous 3 months.

Key Performance Indicators

Thanks to KPI (key performance indicators), relevant authorities can track the quality and efficiency of the work done by individual employees or departments. The main KPI is the time to check each verification request. And the results of the work carried out by specialists are conversion, the percentage of accepted customers in general, and the percentage of accepted customers on the first try. Top online casinos constantly analyze the reasons for unsuccessful verifications, improve algorithms, and interface so that customers can clearly understand what is required of them.

Veronica Tucker

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