Latest News
FullCircl Releases 2025 State of Identify Verification Report
FullCircl, a UK-based RegTech uniquely positioned at the intersection of revenue and regulation, today announces the release of its new State of Identity Verification Report. The report exposes the knowledge gaps and missed opportunities currently costing firms an estimated 38% of potential new customers each year.
The key finding of the report is that many regulated businesses still have significant blind spots around customer onboarding, and that these represent wasted opportunities impacting customer attrition, compliance costs, and profitability. The research found the rate of abandoned sign-ups is potentially 2.9x greater than businesses estimate. The most common reason for this appears to be a total focus on regulatory compliance at the expense of customer experience, the study implies that this imbalance could be costing businesses dearly.
To reveal the true state of identity verification (IDV) today, FullCircl, surveyed over 1000 ‘nationally representative’ consumers in the UK, and then compared their opinions and perceptions against a survey of compliance professionals across a range of regulated industries. In total, FullCircl surveyed 1,521 respondents, comprising 464 professionals and 1057 individual consumers.
Of the 15 major findings contained within the report, key highlights include:
· The average onboarding time is 35 minutes, which is 2.8x longer than customers would like.
· 38% of customers have abandoned account opening – much higher than businesses anticipate. In fact, 98% grossly misjudge levels of drop-off.
· User experience tops the poll as the biggest challenge facing compliance, and yet 54% are still not actively grasping this opportunity to cost effectively boost acquisition.
· 53% of customers abandoned the sign-up process because they felt uncomfortable with the IDV process. But when they do experience secure, uncomplicated, and fast IDV it dramatically increases the number completing onboarding processes successfully
. 59% of business still rely on fully manual or mostly manual IDV processes – driving up onboarding time and complexity, whilst driving down customer satisfaction and profitability.
Andrew Yates, CEO at FullCircl commented: “One of the biggest onboarding challenges facing regulated businesses right now is how to successfully walk the tightrope between customer experience and regulatory compliance. Unfortunately, it’s clear from our report that too many organisations still approach these as mutually exclusive issues. Likewise, too many are still employing manual approaches to identity verification which is compounding the problem even further.”
He continued: “It’s clear that a more sophisticated, future-proof approach to IDV is required to both manage risk and compliance and achieve positive customer outcomes. There are bright opportunities for those that get this right – bringing down the cost of acquisition whilst simultaneously driving up the customer experience and enhancing regulatory compliance.”
Industry News
International Accolade for Campaign from the Danish Gambling Authority
At a conference for gambling regulators from all around the world, the Danish Gambling Authority has been awarded “Best regulatory campaign”. The award was given for the Danish Gambling Authority’s campaign “The One-Armed Bandit”, which on social media highlighted the consequences of gambling for young people under the age of 18.
The award was presented by a jury from the International Association of Gaming Regulators, an association of 81 gambling authorities from around the world. Every year, they gather for a conference to discuss current gambling topics across countries. This year, the conference was held in Rome under the heading “Navigate the future of gaming regulation in a transforming world”.
It was a proud Director of the Danish Gambling Authority, Anders Dorph, who received the statuette in front of the 400 participants at the conference gala dinner.
“I am incredibly proud and happy that we have won this award! It is a very special recognition and honour that our colleagues from all over the world have chosen our campaign,” said the Director.
Campaign personifies gambling addiction
Despite the fact that most types of gambling have an age limit of 18, a study by the Danish Gambling Authority in 2023 showed that 15% of young people aged 15-17 have gambled.
To prevent this and to prevent young people from becoming addicted to gambling, the Danish Gambling Authority launched the campaign “The One-Armed Bandit” in December last year, targeting young people aged 14 to 17.
The campaign talks about the potential consequences of gambling in a humorous and exaggerated way.
It does this through the fictional character, “The One-Armed Bandit”, who is the personification of gambling addiction. In videos on social media, the One-Armed Bandit tries to lure young people to gamble in unorthodox ways. He uses humour, sarcasm and provocative language to achieve his goal.
To spread awareness of the One-Armed Bandit among the target audience, the Danish Gambling Authority used influencers, among other things.
“It’s a very different campaign from our previous campaigns. It required completely new approaches and a lot of courage to reach a new and very young target group. The people we wanted to reach are very hard to reach with campaigns, but with “The One-Armed Bandit” we hit the mark and I’m very proud of that,” said Anders Dorph.
International recognition
When the nomination was written and sent to the jury for evaluation, Anders Dorph and the rest of the Danish Gambling Authority were very excited: “It’s one thing for us in little Denmark to think it was an unconventional campaign, but would our colleagues in the rest of the world understand the irony or would they think it was really about being enticed to play?”
The concern was put to rest when Anders Dorph, on behalf of the Danish Gambling Authority, lifted the trophy for the award, which was won in competition with three other countries’ campaigns.
“There was a great diversity in the nominees’ submissions, reflecting our members’ increasing efforts to improve the regulation of the gambling market,” said Sarah Kelly, Vice President of IAGR.
Campaign with impact
Subsequent surveys among the target audience showed that the One-Armed Bandit had actually made them reflect on their relationship with gambling: 44% said the campaign had made them think about how often they gamble and how much money they spend and 41% indicated that they have talked to their friends about how difficult it can be to control their gambling.
“It’s fantastic to be able to say that we have made a difference,” said Anders Dorph, who is also aware that the great results are a contributing factor to the authority being able to take home the international award from Rome.
He is joined by Sarah Kelly from IAGR: “The winners stood out for their commitment to improving standards to regulate the gaming market for the benefit of both industry and consumers.”
The agency Advice, in collaboration with the Danish Gambling Authority, is behind the campaign, which features comedian David Minerba in the role of the One-Armed Bandit.
Latest News
ICE World Gaming Forum secure former President of Mexico as keynote
The former President will headline the World Regulatory Briefing taking place on Monday 20 January where he will address the topic of ‘Regulation and Revitalisation’ and the requirements needed to balance economic growth with community protection.
A critic of the populist movements sweeping the region, he will outline his business-centric approach to the development of Mexico, and the opportunities which exist for operators in the region.
Previewing the keynote, which reflects the importance of Latin America as a leading voice in the global gambling industry, international broadcaster and Chair of the 2025 ICE World Gaming Forum Nadine Dereza, whose career has seen her interview politicians including Kofi Annan, Condoleezza Rice, Ban Ki-moon and Gerhard Schröder said: “As the President responsible for rationalising Mexico’s complex gambling framework in the early 2000s, Vicente Fox paved the way for easier gaming legalisation, going on to grant the overwhelming majority of the current 763 licenses in the market.
“The former President has previously gone on the record as favouring casinos as a tax benefit to reduce Mexico’s dependence on unpredictable oil income, and for growing the local tourism industry, while emphasising the need to ensure they operate in a controlled and supervised manner”
Providing insight to the dynamics of the market, Clarion Gaming Senior Conference Producer Damien-Ashton-Wellman added: “With online sports betting predicted to be worth $1.24bn this year alone, and with a projected annual growth rate of 8.45% by 2029, Mexico is one of the hottest markets in Latin America after Brazil.
“The latest election has put it front and centre of the gaming industry after the country’s Supreme Court ruled that the outgoing President Andrés Manuel López Obrador’s ban on slot machines was unconstitutional. This landmark ruling not only challenges the existing restrictions on slot machines but also opens the door for the introduction of roulette and dice games in Mexican casinos.
“President Fox’s attendance at ICE adds to the event’s industry-defining reputation for bringing together key-decision makers and for providing a gateway to Latin America. He will also participate in an exclusive invite-only roundtable meeting of iGB Executive, Clarion Gaming’s new annual C-level membership community.”
A charismatic reformer and noted economist, Vicente Fox is credited for playing a vital role in Mexico’s democratisation, and with strengthening the country’s economy after having previously served as CEO and President of Coca-Cola in Mexico.
After leaving office in 2006, President Fox and his wife Marta founded Centro Fox, an education non-profit dedicated to discovering, exercising, and harnessing the leadership qualities in the Global South. The non-profit is now housed at the Vicente Fox Centre of Studies, Library, and Museum in San Cristobal, Mexico. He has also served as Co-President of Centrist Democrat International, the umbrella organisation for global centre-right political parties.
Industry News
ECA Announces Winners of Diversity and Inclusion Scholarship to the EDP 2024
The European Casino Association (ECA) has announced the winners of its esteemed Diversity and Inclusion Scholarship for the Executive Development Programme of the Universities of Las Vegas and Reno.
“Our jury has made their selection, and we extend our heartfelt congratulations to: Siham Makrache, Director of Marketing & Communications at Grand Casino Brussels, Belgium and Vesna Goričan Čač, Marketing Manager, Mond, Resort & Entertainment, HIT Universe of Fun, Slovenia,” the Association said.
Now in its landmark seventh year, ECA’s initiative continues to champion diversity and inclusion within the European casino industry by offering two scholarships annually to ECA member employees, providing fully-funded participation in the renowned Executive Development Programme at Lake Tahoe, USA.
The Executive Development Programme (EDP), a partnership between UNLV International Gaming Institute and the University of Nevada, Reno, stands as the pinnacle of gaming leadership education. This intensive 8-day professional development programme, now in its 35th year, is tailored for future C-suite executives in the gaming industry. With over three decades of excellence and more than 1600 alumni worldwide, the EDP focuses on developing leadership, management, and strategic thinking skills. It emphasises strategic issues in casino gaming while providing global networking opportunities, offering participants a unique chance to establish lasting professional relationships with industry peers.
ECA Board Member Tiina Siltanen underscores the importance of this initiative, stating, “Promoting diversity and inclusion in the land-based casino industry remains a cornerstone of the ECA’s mission. These scholarships play a pivotal role in fostering these values, providing opportunities for underrepresented groups to rise in the industry and bring unique perspectives to decision-making roles.”
The ECA firmly believes that a diverse and inclusive environment enhances employee engagement and satisfaction. The scholarships awarded to the Executive Development Programme are instrumental in nurturing these values within the land-based casino sector, creating pathways for currently underrepresented groups to ascend in the industry and contribute their unique perspectives to decision-making roles.
The ECA extended its sincere gratitude to its partners – Clarion, AGEM, and the Universities of Las Vegas and Reno – for their unwavering support and commitment to this transformative scholarship programme. Their ongoing dedication ensures that all costs, including travel, accommodation, and the training programme, are covered for the scholarship recipients.
This initiative not only enhances employee engagement and satisfaction but also propels the European casino industry towards a more diverse and inclusive future.
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