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Sumsub Launches First Full-Cycle Verification and Anti-fraud Solution for the Gaming Industry

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New solution enables gaming operators and platforms to cover the whole player lifecycle in full compliance

MIAMI and LONDON, Nov. 9, 2023 /PRNewswire/ — Sumsub, a full-cycle verification platform, today announces the first integrated solution for user verification, anti-fraud and compliance in gaming enabling both platforms and operators to seamlessly cover the entire player lifecycle and maximize revenue while staying compliant with all regulations and guidelines.

With this launch, Sumsub is the first vendor to provide a holistic verification solution covering player onboarding, gaming-specific fraud prevention, and compliance. The solution’s four pillars to ensure full-cycle verification include:

  1. Fast and secure Player Onboarding in full compliance with 220+ jurisdictions worldwide. It allows gaming platforms to onboard users in less than 30 seconds leveraging KYC/AML, age verification, and proof of address (PoA) checks. Additionally, Sumsub’s Non-Doc Verification provides swift onboarding in selected countries enabling users to only need to enter an ID card number, without scanning any documents.
  2. Fraud Prevention to fight scams such as bonus abuse, affiliate fraud, and account takeover in real-time based on specific rules preventing fraudsters and all suspicious users from making deceitful action, thus reducing reputation risks and fraud-related losses.
  3. Player Risk Profiling and Analytics module, aimed at catching at-risk behavior fast with dynamic scores that flag suspicious activities through “play and spend” behavioral patterns (like deposit frequency or average bet amount) and customizable rules.
  4. Responsible Gaming (RG) Compliance, a first-in-the-market automated solution based on Sumsub’s Transaction Monitoring system and global compliance expertise, offers a set of rules to help gaming operations detect potential addictions and stay compliant with RG requirements.

“Gaming operators are overwhelmed with the need for separate solutions such as verification, bonus abuse prevention and player risk analysis. Often verification and anti-fraud vendors offer solutions initially developed for other industries like fintech. But they do not correspond to gaming companies’ specific needs as they are not tailored to the user profile which is completely different in gaming. So platforms are left with no choice but to develop these solutions in-house,” comments Jacob Sever, co-founder and Chief Innovation Officer at Sumsub. “Now Sumsub launches the first full-cycle verification platform for gaming, providing sets of rules that are fully customized to the industry, player geographies and user profiles in gaming. Player Risk Profiling and Analytics module is incorporated into the solution, further reinforcing our support for gaming operators’ and platforms’ needs in reducing risk. Previously, we launched our automated Responsible Gaming solution to help gaming companies stay fully compliant with RG regulations.”

Sumsub customers’ success stories prove the claimed efficiency of the company’s solutions for the gaming industry: Kaizen Gaming significantly boosted onboarding automation – from 15% to 70%, and increased its overall verification performance by 350%; Yolo Group grew users’ pass rates by 142%; and CopyBet decreased players’ time to value from 24 hours to less than 10 minutes.

To learn more about Sumsub’s full-cycle gaming solution, please go to https://sumsub.com/gambling/ 

About Sumsub

Sumsub is a full-cycle verification platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, transaction monitoring and fraud prevention solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs and protect your business.

Sumsub has over 2,000 clients across the gaming, fintech, crypto, transportation, trading and e-commerce industries including 10bet, Yolo Group, CopyBet, Unlimint, Kaizen Gaming and Chilli Partners. In 2023, Sumsub was recognized as KYC Solution of the Year at SiGMA Balkans Gaming Awards and as the best Software-as-a-Service provider at SiGMA Eurasia Gaming in Dubai.

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VIVOTEK Wins Double Honors for Its Commitment to Sustainability

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TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.

Pioneering Sustainability with Dual Recognition

“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”

Driving Sustainability through AI Innovation

VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.

Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.

In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.

Security Sustainability as a Foundation for Social Impact

VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.

Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.

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To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.

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2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters” Successfully Concluded

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GUIYANG, China, Dec. 26, 2024 /PRNewswire/ — To fully implement the spirit of “carrying forward China’s cultural heritage” and “promoting the creative transformation and innovative development of fine traditional Chinese culture”, the 2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters”, organized by the Publicity Department of the CPC Guiyang Municipal Committee and hosted by www.huanqiu.com, has successfully concluded on Dec.16. The contest drew thousands of teenagers from both China and abroad, who used cultural empowerment and innovative designs of Chinese characters to narrate and promote Guiyang.

At the “Colorful Guizhou • Literary Plateau” Farming and Reading Event, 59 outstanding works from 26 countries, along with 21 representative pieces from various countries and regions, were showcased. According to the organizing committee of the Global Youth Design Contest on Chinese Characters, “This exhibition serves as both a lasting commemoration of the event and a report to all those who care about the inheritance and promotion of Guiyang and Chinese culture.”

In their submissions, the teenagers selected Chinese characters or phrases they believed best represented Guiyang and reimagined them through innovative designs. Outstanding designs incorporated Guiyang’s iconic architecture and cultural landmarks into Chinese characters to present the city’s urban landscape and historical culture. Some works spotlighted Guiyang’s distinctive cuisine, offering a glimpse into the vibrant and diverse local culinary culture. Some other designs drew inspiration from martial arts villages in Guizhou and featured dragon motifs to symbolize the depth and vitality of Guizhou culture.

Saison from Tajikistan was among the participants in this year’s Global Youth Design Contest on Chinese Characters. Speaking about his design of the Chinese characters, he shared that his design sought to merge the beauty of Chinese characters with the charm of Guiyang. “Guiyang is a captivating place, known for its beautiful scenery, delicious food, and diverse ethnic minorities. I tried to incorporate the beauty of Guiyang into my Chinese character design, hoping to convey the city’s charm and the wonders of Chinese characters through my work.”

The contest officially opened for submissions on September 30. In an effort to boost public engagement and participation, a “cheerleading campaign” was organized for shortlisted works from November 22 to 29. Following expert reviews, 80 outstanding works were ultimately selected for public exhibition.

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Markets Show Resilience Ahead of End-of-Year Options Expirations: Bybit x Block Scholes Crypto Derivatives Report

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DUBAI, UAE, Dec. 26, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released the latest Crypto Derivatives Analytics Report in collaboration with Block Scholes, highlighting the muted market volatility despite major options expirations on Friday. BTC and ETH’s realized volatility has increased, but short-term options haven’t adjusted to this change. This indicates that while spot prices are fluctuating, the options market is not fully reacting to these shifts, although BTC and ETH volumes have displayed slightly different patterns.

With more than $525 million in BTC and ETH options contracts expiring on Dec 27, 2024’s end-of-year options expiration looks set to be one of the biggest yet, yet expectations for volatility have remained subdued. The report highlights an unusual inversion in ETH’s volatility structure, but BTC has not mirrored the reaction. Additionally, a change in funding rates—sometimes turning negative as spot prices drop—signals a new market phase. Notably, BTC’s volatility structure has been less responsive to changes in spot prices, whereas ETH’s short-term options are exhibiting more noticeable fluctuations.

Key Findings:

BTC Options Expirations:

In the past month, BTC’s realized volatility has been higher than implied volatility on three occasions, each time reaching a relatively calm equilibrium. Open interest in BTC options remains high, contributing to potential increased volatility as we near the end of the year. Around $360 million worth of BTC options (both puts and calls) are set to expire soon, which can affect price movement.

ETH Options: Calls Dominate

Despite a mid-week inversion, ETH’s volatility term structure has flattened, maintaining levels similar to those seen over the past month. In the final week of 2024, calls overwhelmed puts in open interest in ETH options, although market movements and trading activities are more on the put side. 

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 24, 2024)

#Bybit / #BybitResearch

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About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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