Have you exceeded your annual volume checks already?
May 1, 2019
The changes to the LCCP from the UK Gambling Commission take effect on 7th May – but are you already exceeding your usage for verification checks with your verification provider?
As mentioned previously (here), there are a number of changes that operators need to be complying to. Ultimately, the result of these changes will see operators needing to verify and authenticate a higher volume of consumers before they are able to use their services.
Operators are going to be seeing higher volumes, meaning higher costs – but what about when operators inevitably exceed their current verification check limits with current providers?
What’s going to happen?
Currently, operators are giving their current verification providers a database of existing customers that they need to re-verify in order to be compliant with the new LCCP rules. What these operators are then discovering is that they have already exceeded their annual usage, in the first 4 months of the year, with their current verification providers – how can operators get around this?
If the operators have to turn to a ‘pay as you go’ model with their providers, this will increase their costs by up to 40% – with this, there is no guarantee that the identities of their consumers will be verified.
So, what does this mean?
This means that operators are going to endure a significant rise in their costs to their current suppliers, without the guarantee that they will get the results that they are hoping for. Without having all of their consumers’ identities and ages verified, they won’t be able to use the operator’s services – costing the operator even more money and the risk of losing the consumer altogether.
Not only does this mean an increase in costs, but also an increase in the number of consumers that will need to be verified. Current providers may not be able to cope with the additional high volumes of consumers that need to be put through their systems. Can operators truly afford these additional costs?
All in all, operators will be taking on high costs and high volumes, but may not necessarily be able to verify their consumers as required.
How can Acuant help?
Our solutions can handle the high volumes of consumers whilst ensuring a smooth customer experience with our cost-effective global answer to verification in the Gambling industry.
We provide operators with a robust, accurate and global solution which allows them to verify not just age and identity but also address and location within just a few seconds.