KYC onboarding provider HooYu has released survey results showing that up to 30 percent of customers are abandoning sign-up processes with gaming operators.
The report examines the onboarding problems faced by gaming operators in the UK and abroad. In the UK, abandonment is lower at 14 percent but doubles to 30 percent for non-UK onboarding journeys. The report also examines differences in funnel performance between small, medium and large operators and examines how long it takes operators to perform KYC.
Customer onboarding and KYC is a significant point of loss for every operator. Having enticed customers to the top of the funnel with advertising and bonus offers and affiliate programs to get them through the door, if the industry is failing to convert traffic to customers, then marketing spend, and potential revenue is being lost.
The HooYu report contains insight from operators that shares why and at what stage drop-off occurs. Isolating and solving the reason for customer drop-off could see drastic improvements to the KYC journey and result in tens of thousands more successful sign-ups.
David Pope, Marketing Director at HooYu, said: “This research highlights the damage being done across the sector when operators don’t refine their KYC processes. For a few relatively low effort changes, operators could be winning thousands more customers with a smooth onboarding journey UI and UX that customers find easier to complete so they can successfully deposit and get that bet on in time.”