Experts: Trust, Localisation Key for Brazil KYC
Highlights
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Strict KYC rules pose challenges for operators, especially in Brazil’s newly regulated gambling market.
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Increasing reliance on third-party KYC suppliers for the smooth functioning of the business and platform.
The stringent KYC rules have caused major concern for operators in Brazil since the beginning of the regulated gambling market.
These challenges were also addressed at SBC Summit Lisbon last week, citing that these extreme measures had hampered the operator’s initial success in the regulated sector. The gambling industry experts at the event also agreed that trust and localisation are the keys to a successful KYC process.
So, the best option for Brazilian gambling operators is to work with local KYC providers. Some operators have also supported this idea, stating that many things are still unknown, so focusing on their core business and delegating the technical KYC aspect to third-party suppliers is the ideal solution.
Education among users is crucial for operators to have a successful KYC process. Operators must be well aware of the process to educate their players better. This significantly reduces the overall complexity of the process.
For more information, Refer Here!
These challenges were also addressed at SBC Summit Lisbon last week, citing that these extreme measures had hampered the operator’s initial success in the regulated sector. The gambling industry experts at the event also agreed that trust and localisation are the keys to a successful KYC process.
So, the best option for Brazilian gambling operators is to work with local KYC providers. Some operators have also supported this idea, stating that many things are still unknown, so focusing on their core business and delegating the technical KYC aspect to third-party suppliers is the ideal solution.
Education among users is crucial for operators to have a successful KYC process. Operators must be well aware of the process to educate their players better. This significantly reduces the overall complexity of the process.
For more information, Refer Here!
