• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Fantasy Sports Betting Platform Turns to Biometric Mobile Onboarding

April 12, 2021

Fantasy Sports Betting Platform Turns to Biometric Mobile Onboarding

Socure has secured a multi-year contract to provide customer verification technology for DraftKings, the company has announced.

Founded in 2012, DraftKings is a fantasy sports betting platform that revolves around a mobile app on which players can win cash prizes. The company went public last year through a reverse merger with Diamond Eagle Acquisition Corp, a Special Purpose Acquisition Company, or SPAC.

DraftKings is now poised to benefit from Socure’s Intelligent KYC solution, which features the use of biometrics for customer onboarding; as well as its Global Watchlist with Monitoring. In a statement announcing the deal, Socure explained that it was selected as DraftKings’ KYC vendor “after a lengthy evaluation process” in which Socure’s technology enabled “a frictionless auto-approval rate” of 4.5 percent while reducing manual reviews by 14 percent.

“Socure’s Intelligent KYC passively verifies the identities of qualified players online quickly and accurately, while increasing new player conversions and reducing drop-off rates,” explained Socure CEO Johnny Ayers. “Our Global Watchlist solution works alongside our Intelligent KYC product to deliver true continuous monitoring of player eligibility, resulting in uninterrupted compliance with Anti-Money Laundering (AML) and KYC regulations for online gaming providers.”

The deal comes after Socure’s announcement in January that its Socure ID+ KYC platform had become available to support digital gaming in the states of Colorado, Illinois, Indiana, Iowa, Michigan, New Hampshire, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia. At that time, Ayers noted that the online gaming industry was “experiencing unprecedented growth” as more states moved to legalize online sports betting.

The DraftKings announcement also comes after the news that former Auth0 engineering head Rong Cao had signed on as Socure’s new Senior Vice President of Technology, underscoring the company’s growth trajectory.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, biometrics, digital onboarding, DraftKings, Know Your Customer, KYC, online gambling, Socure, Socure Global Watchlist with Monitoring, Socure Intelligent KYC, sports gambling

Related News & Articles

Newly Granted BehavioSec Patents Detail Mobile-based Behavioral Biometrics, Social Engineering Detection

Mobile, IoT, and Cloud Tech Drive HID Global’s 2018 Trends

New Trial of Biometric Cards in Middle East Features IDEX Sensors

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion
  • ‘All Partners Remain Committed’ to Digital Travel ID Project: Transport Canada
  • North Carolina DMV Seeks Political Support for MDL
  • The Road Ahead for Biometrics and Identity Online Summit

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld