Curaçao-based online betting operator Pinnacle has teamed up with identity verification platform Sumsub to improve onboarding for users. 

In addition to creating a simpler and faster onboarding process for Pinnacle users, Sumsub’s KYC and AML measures, including biometric checks and source of funds verification, will help Pinnacle protect its users from risks and promote social responsibility. 

The partnership will also give Pinnacle access to tools to combat payment fraud prevention and improve risk management. 

Commenting on the news Legal, Compliance and Regulatory Affairs Manager at Pinnacle, Veronique dos Reis, said:

“The integrity and efficiency of our platform is a part of our success. So, to keep our operational levels high, we needed a solution that could accelerate compliance processes and level-up security. 

“Sumsub’s solution was a great choice for us. We have accelerated the verification of clients, source of funds verification, and have enabled the detection of false chargebacks. It was a great leap forward in terms of the internal organisation of our compliance processes. Overall, we are providing a better onboarding experience for the members of our betting community.”

While Co-founder of Sumsub, Jacob Sever, added:

“Betting companies have to stay compliant with both AML and responsible gambling requirements, which is not an easy task. We are glad to be utilizing our expertise in order to help Pinnacle to become more socially responsible and protect their customers from any possible gaming-related issues.”

AYO.NEWS says:

As we reported last week, despite being well-known as a soft-touch regulatory jurisdiction thus far, Curaçao has announced plans to introduce a new regulatory regime, in coordination with the Dutch government. Though Pinnacle has clearly taken a proactive approach to compliance, it remains to be seen if the bulk of license holders in the Dutch Caribbean territory will put in similar efforts, or simply leave for pastures new. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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