Socure: Streamlined onboarding processes will help operators gain competitive advantage in the US

Operators must ensure that they employ the most accurate onboarding processes when looking to expand into the US gaming market. That’s according to Michael Goonan, Account Executive Director of Online Gaming at Socure.

Speaking to SBC Events ahead of this week’s SBC Digital Payments 2021, he explained how he expects to see an increase in fraud risk and regulatory oversight across the post-PASPA market before touching upon Socure’s plans to showcase its comprehensive identity verification suite that includes market-leading fraud, transaction risk, AML and document verification products.

SBC: What are you looking forward to at SBC Digital Payments 2021? 

As the online gaming industry continues to grow exponentially in the U.S., we are excited to meet with leaders in the industry to learn about forward-looking initiatives. In particular, we are interested in discussing cashless for land-based casinos, a continued focus on omnichannel user engagement, and the evolving regulatory landscape. SBC has done an outstanding job of bringing together the industry leaders that are shaping this new market.

The Socure team is looking forward to sharing the value we are bringing to the gaming market, with a specific focus on improving responsible growth through increased auto-approvals for identity verification, including KYC, compliance, fraud and AML.

SBC: What are your predictions for the gaming industry in 2021? 

First and foremost, I expect we’ll see continued growth in the number of new players as the footprint for legalization in the U.S. expands with more states seeing the benefits of allowing online gaming.

That said, competition is going to heat up due to the large sums of capital investment raised by gaming operators and service providers as they look to grow their presence in the digital space. The same can be said of the influx of capital flowing into European and Asian operators as they look to gain market share in the U.S.

This enormous amount of new capital will enable operators to significantly scale marketing spend to further fuel adoption of online gaming by a much higher percentage of U.S. consumers.

With this growth and increased player adoption, we expect to see an increase in fraud risk and regulatory oversight while operators with the most accurate onboarding solutions will drive a competitive advantage vs their peers.

SBC: What are you promoting at SBC Digital Payments 2021?

Top operators in the U.S. like DraftKings are leveraging Socure to drive player growth by auto-accepting more new players across a broad range of demographics using our Intelligent KYC and AML. We will be showcasing those products along with our comprehensive identity verification suite that includes market-leading fraud, transaction risk, AML, and document verification products.

SBC: What industry innovation will capture the most attention in 2021? 

The convergence of land-based operations and their newer digital offerings, and a continued focus on establishing a holistic view of the player relationship across all channels. The digital environment enables operators to safely scale to meet the significant growth we are experiencing in the U.S. and provide innovative services to those players over the lifetime of their relationship.

SBC: Which parts of the conference agenda have caught your eye? 

As we work together as an industry to harness the enormous growth in the U.S. market, the panels that discuss improving the customer journey and payment options while addressing the rising bar for compliance, AML, and fraud risk will provide important new insights.

SBC Summit Europe: What does a successful regulated market look like?
29 Oct | SBC Summit Europe | Ellis Davis
'SBC Summit Europe | 19-21 April 2027 | RAI Amsterdam Channelisation: Keeping players in the regulated...
Read more
7 European Markets that everyone should be watching in 2027
28 Oct | SBC Summit Europe | Ellis Davis
'SBC Summit Europe | 19-21 April 2027 | RAI Amsterdam How We Defined “Opportunity”Finland: Europe’s Next...
Read more
SBC Summit Europe Strengthens Dutch Industry Engagement Through Strategic CasinoNieuws Partnership
28 Oct | SBC Summit Europe | Ellis Davis
'Multi-year partnership will see CasinoNieuws become SBC Summit Europe's exclusive Dutch gambling media partner, expanding the...
Read more
SBC Summit Europe: Is Europe's Regulatory Environment Too Fragmented?
27 Oct | SBC Summit Europe | Ellis Davis
'SBC Summit Europe | 19-21 April 2027 | RAI Amsterdam One Continent, Multiple LicencesTax Can Change...
Read more
SBC Summit Europe: The Home of European Gaming
26 Oct | SBC Summit Europe | Maria Tsnompilantze
'Why Europe's regulated gaming industry needs a meeting place of its own, who it is for,...
Read more
Know Your Player: Turning behavioural insight into responsible growth
21 Oct | Webinar | Scott Fulton
'How can operators use player behaviour data to make better decisions? Are we able to turn...
Read more
SBC and VNLOK Announce Strategic Partnership to Strengthen Licensed Operator Participation at...
19 Oct | SBC Summit Europe | Ellis Davis
'Multi-year partnership will bring Dutch licensed operators and industry leadership to Amsterdam, strengthening dialogue on regulation,...
Read more
SBC Summit 2026 Closes Record Lisbon Week with 40,000 Attendees as Event...
16 Oct | SBC Summit | Cosmo Teare
'SBC Summit 2026 concluded its third edition in Lisbon with more than 40,000 attendees, but the...
Read more