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Prophet Exchange to improve player funnel by replacing KBA with GeoComply’s new KYC authentication solution

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GeoComply Core for Authentication was launched to address the estimated 30 percent user drop-off caused by KBA

October 11, 2023 (Vancouver, BC) – Today, GeoComply Solutions Inc. (“GeoComply”) announced that its latest innovation, GeoComply Core for Authentication (CfA), is now available to streamline cumbersome registration requirements for players and bolster security, helping prevent fraudsters from setting up malicious gaming accounts. 

CfA is a frictionless know-your-customer (KYC) authentication alternative for knowledge-based authentication (KBA). CfA offers the ability to authenticate the user through several data points instantly.  CfA’s user-friendliness and robust security make this new GeoComply solution an essential tool for online gaming operators looking to improve customer acquisition conversion rates and maintain compliance in the ever-evolving regulatory landscape.

The New Jersey Division of Gaming Enforcement (NJDGE) has given the green light to this state-of-the-art solution. CfA is a much-needed alternative to traditional methodologies that often lead to friction during the customer onboarding process. CfA provides an authentication solution fit for New Jersey or any other jurisdiction where regulations require KBA, document verification, or other forms of enhanced KYC due diligence.

Lindsay Slader, GeoComply’s Sr. Vice President of Compliance, expressed her excitement over the NJDGE’s decision: “This approval underscores our dedication to creating industry-leading solutions that meet the highest compliance and security standards. With the introduction of this product, we aim to expand our customers’ player acquisition funnel, while simultaneously ensuring the integrity of the online gaming ecosystem. We appreciate the New Jersey DGE’s commitment to innovation that fosters a secure and player-friendly online gambling environment for the state’s residents.”

Prophet Exchange, the first sports betting exchange in the U.S., operating in New Jersey, will be the first to deploy GeoComply’s new CfA solution. Jake Benzaquen, Co-Founder of Prophet Exchange, remarked: “In the competitive world of sports wagering, ensuring a seamless experience for legitimate users while keeping fraudsters out is paramount. Converting registrations to bettors is also of the utmost importance in this highly regulated landscape. GeoComply’s new product offers precisely that – a blend of ideal player UX and security. We’re thrilled to integrate this solution into our platform.”

If you are attending the 2023 Global Gaming Expo (G2E) in Las Vegas and would like to learn more about this exciting new product, visit GeoComply at booth #4825. 

About GeoComply

GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user’s true digital identity. Trusted by leading brands and regulators for over a decade, the company’s geolocation solutions are installed on over 400 million devices and analyze over one billion transactions every month.

Our award-winning products are based on the technologies developed for the highly regulated and complex US online gaming and sports betting market. Beyond iGaming, GeoComply provides geolocation fraud detection solutions for streaming video broadcasters and the online banking, payments and cryptocurrency industries, building an impressive list of customers, including Akamai, Amazon Prime Video, BBC, BetMGM, DraftKings, FanDuel, and Sightline.

For more information, visit our Awards and Press page or contact:

About Prophet Exchange

Prophet Exchange is a peer-to-peer sports betting exchange where users can set prices for others to bet on, or place bets on the prices already available. Prophet is the first fully regulated betting exchange in the U.S., with its launch market in New Jersey. They are live on iOS, Android and web.

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