Biometric Authentication News BAN-049 Release Date : 2018-02-23
Satish: You’re listening to Biometric Authentication News and this is your host, Satish Karry. Today on our show, I have Philipp Pointner, he is VP of product at Jumio. Jumio uses computer imaging technology and machine learning and live application experts to verify credentials like passports, driver’s license, and is issued by over 200 countries. Welcome to show, Phillip. How are you?
Philipp: I’m fine, thank you. How are you?
Satish: Doing good. I did see your report and would like to learn a little bit more about it. So the topic for today is account opening in the online gaming industry, and Jumio recently commissioned Harris Interactive to to survey active online gaming customers and global gaming operators, To discuss this, I have you here, thanks for joining in. Let’s get to the show. Please lay out the online gaming industry for us relatively a little bit different from what we get to see in the US.
Philipp: When we say online gaming here, we’re obviously not talking about video games and these kind of things. We’re talking about sports betting and casino games and horse races, which has become really a large player in entertainment. Especially in Europe, where it’s regulated, but because there’s so much real money in there, all the regulations have kicked in, so anti-money laundering, there’s of course age restrictions for these types of activities. Also, these businesses, they often offer incentives for account opening and so they have to protect themselves from account opening fraud.So because of that, this online gaming has actually become one of the largest industries that needs fully verified users and so it’s a very, very interesting field for Jumio. As you said, we’ve created this report. We’ve talked consumers, but also the operators, many of which are our customers and we wanted to see if they have matching opinions on the critical items.
Satish: Philipp, thanks for that info, and what are the key take aways from the report?
Philipp: So there are three key take aways. Number one I’ll talk about today. Number one is that from the consumer’s side, really everything won and lost on the account openings. So, how easy is it for people to get access to an account and stuff using the services. This very often already includes the identity verification, which is kind of a critical turning point within this kind of broader aspect of account opening that also has other aspects in it. One very interesting point of discussion was how does mobile and especially native mobile on iOS and Android native apps come into play. There we see the forces pulling into different directions between the consumers and the operators.
Satish: Can you share a few details about the customer onboarding? As you suggested, it’s very critical and very important to get that right because you may gain or lose a customer doing the onboarding.
Philipp: Right. So here again, we see a little bit of forces pulling into different directions. While on the one hand, consumers say they wouldn’t necessarily spend more time gambling if the signup processes were more simple, meaning it doesn’t really increase their engagement after the fact. One out of four have said that they had problems opening an account and the way we phrased the question and the report was even strong but we asked if the users have abandoned the process and one out of four said yes, they have already once in their life abandoned an onboarding process. If you and I imagine all the marketing money that is pumped into acquiring those users, then you finally bring them to the website, there is an intention from the user to do the onboarding, but then the process is so cumbersome that people drop out. This is really a painpoint and so the account onboarding is a critical element. There is clear need for improving those processes. This is a task and for me, as a product person, his is where I live. This is a task for product people and experience designers to really step in and see what’s going on there.
Satish: You were alluding to question before. You talked a little bit about it, but mobile users, how is the experience changing? I’m assuming it’s a little bit of a different scenario when it comes to mobile users, wondering if you could give us a few details?
Philipp: So what we found is that most people said they are using the online gaming services either on the weekend or after work. So this basically means people are on the move, they’re not necessarily close to their desktop web machines. They’d be rather on the phone or on a tablet. The account opening kind of always seems a little bit more tricky on the devices that don’t have a full featured keyboard. You have to give a lot of information. You have to provide your documents and so on. This is where actually Jumio can also help and create a better experience for people that are onboarding on the mobile itself. A lot of consumers just said that they’d really rather then consume the services and play within an app experience rather than a mobile website or a desktop web because they are on the move, they want this mobile. Here we see a little bit of a push back from the operators where for various commercial reasons, they don’t wanna invest into having an app in the app store. They also don’t wannashare profits with Apples and Googles of the world.
Philipp: So there is a bit of a tension there between what the consumers actually want and what the operators are looking for.
Satish: Yes, I think that unlike other industries here the revenue goes to Apple or Google. Here, it’s a huge amount of money so it makes sense. How does Jumio handle online and real world identities? That’s an issue most of the world is trying to solve and I think Jumio is at the forefront and also there’s a lot of risk associated with it. How is Jumio going about the process and what have you found out?
Philipp: We’ve seen a lot of interests in all our services. It’s getting more and more and more, the market is really in a state where it’s heating up. What we can do is by combining machine learning and AI with human, we can create a process that is very strong and fraud fighting but at the same time, yields a high conversion rate for consumers, and that’s what everybody is after. You need those high conversion rates. You don’t want the consumers to go through a process again. You don’t want consumers to be rejected wrongly, so we have to prove those people that are good customers and we have to reject the fraudsters that are trying to do market or account fraud, rather, other malicious activities. We have a very high throughput of ID documents that we see on an everyday basis. There’s a couple hundred thousand of ID documents coming through Jumio’s system every day. That helps us really apply that machine learning at a very scale. These algorithms are extremely data hungry, and we are able to feed this beast.
Satish: Thanks a lot, that was very informative. Thanks for being on the show, Phillipp. I appreciate your time.
Philipp: Thank you very much.