In the rapidly expanding realm of online gaming, establishing trust between platforms and users is paramount. A key component of this trust is the Know Your Customer (KYC) process.
As Marvin Miao, regional director of Jumio, emphasized, “KYC is the step to make people trust the platforms.” He explained that before gaming platforms can generate revenue from players, they must first convince users that their funds are secure.
During a panel discussion at the ASEAN Gaming Summit on March 19th, Miao provided insights into the core purpose of KYC, underscoring its role in verifying user identities remotely. “Essentially, the question I want to ask is, how do I trust that you are who you say you are? Because I can’t see you, and that’s the whole concept of verification. It’s all about building trust,” he explained.
Krizia Cortez, PR director of the Philippines online casino platform PlayTime, discussed KYC’s strategic value from a business perspective. “From a business standpoint, the information you get from KYC is essentially the first data we have to understand who our customers are,” she stated, noting its importance in improving services and marketing strategies.
The panel also addressed concerns about user reluctance to provide personal information. Miao argued that strong KYC measures can actually boost user confidence. “If I’m a player and I log onto a platform, and I see that the platform is asking for my ID and perhaps some additional information about myself, I feel more confident because I know the platform is taking steps to protect me and my funds,” he said.
Cortez observed that attitudes in the Philippine market are evolving. “Right now, people in the Philippines are becoming more accustomed to providing information when signing up for games. It’s growing, and they’re starting to understand that it’s part of regulations and operator requirements,” she explained.
The discussion also examined the challenges posed by advancing technologies like AI and deepfakes. Miao outlined Jumio’s strategies for combating fraud, emphasizing the need for continuous adaptation. “It’s a constant battle,” he admitted.
Cortez stressed the importance of balancing AI with human verification. “The reason we combine both is that some sign-ups may bypass automated systems, so adding a layer of human oversight ensures greater security,” she noted.
The unique challenges of the Philippine market, including limited access to primary identification, were also discussed. Cortez described PlayTime’s strategy of partnering with platforms that have established verification systems to address this issue.
Miao acknowledged the diverse regulatory landscapes across different regions, commending the Philippines for its adaptable approach. He stated that Philippine regulators are “very open-minded.”
