LexisNexis Risk Solutions announced that the Nevada Gaming Commission and Nevada Gaming Control Board granted it a license to provide identity verification, authentication and geolocation services. Nevada gaming companies can now select LexisNexis Risk Solutions to help them comply with gaming regulations, build robust anti-money laundering (AML) compliance workflows and thwart underage gambling.
To date, the U.S. gaming sector has been fined hundreds of millions of dollars for AML deficiencies. Online gaming companies need world-class patron identification processes to operate efficiently and profitably while complying with state gaming regulations and avoiding fines. Gaming companies have to balance multiple and, in some cases, conflicting objectives. Their overarching goal is to provide a great customer experience to drive brand preference and loyalty while at the same time complying with stringent Know Your Customer requirements.
The stakes are high. If the process of opening an online gaming account is cumbersome, the customer leaves and goes to the competition, which affects the bottom line. Therefore, gaming companies want identity verification products that are capable of identifying as many customers as possible. Furthermore, if the patron identification process is unreliable, there is a risk of approving patrons who present fictitious or stolen identities, which creates a serious compliance problem.
“Patron identification and geolocation tools are essential components of gaming operations,” explained Rick Trainor, CEO, business services, LexisNexis Risk Solutions. “Workflow integration is key to operational efficiencies. Our identity management products are integrated with our gaming solutions that address the AML compliance needs of online and land-based gaming operators in the U.S. and worldwide.”
Global data coverage is another crucial element because even domestic gaming operators need international data. They serve international customers in Las Vegas and elsewhere. Now Nevada gaming licensees have access to the same identity management products used by some of the world’s largest banks and other businesses that depend on LexisNexis Risk Solutions tools to help them meet AML compliance obligations and prevent fraud.
Today’s gaming companies want to identify as many customers as possible without compromising gaming integrity while delivering a smooth customer experience. This reality is why more and more companies choose LexisNexis Risk Solutions. Its expansive data, analytics-based linking and advanced technology enable online gaming companies to leverage its data assets to verify a broader set of the population without compromising the strength of verification or quality of customer experience. LexisNexis identity verification and geolocation tools enable growth for the new and dynamic online gaming market in Nevada.
These tools are also available to land-based casinos that face similar challenges. As a global tourist destination, Las Vegas attracts visitors from all over the world, and the robust global LexisNexis data coverage allows its clients to meet KYC requirements for domestic and international customers.
LexisNexis Risk Solutions has deep experience and a rich history of providing services to the gaming industry. It has been advising and creating solutions for brick-and-mortar gaming companies for more than a decade, helping casinos stay in compliance with complex industry regulations. In addition, global gaming companies turn to LexisNexis Risk Solutions to gain assistance with credit decisioning and customer data management.