KYC, AML, and AI — these are the acronyms shaping many of today’s discussions in the igaming space. Following a panel discussion, we took the opportunity to speak with LeoVegas Group’s Head of Product, Charlotta Shelbourg, to tap into her KYC expertise and get the latest insights on this evolving and dynamic topic.
Where do you see the biggest challenges in KYC and how do you address them?
“It’s definitely the need for localised solutions – for several reasons. Firstly, every market is unique: information that’s considered sensitive in one market may not be in another. This makes a strong local understanding essential. Secondly, continuing on the theme of localisation, you need to offer the payment methods that customers expect to use. For example, in Sweden you need BankID, while in Denmark you need MitID. And thirdly, it’s crucial to ask the right questions at the right time – because if you don’t, you can’t expect to get an answer!”
How do you find the right balance between smooth KYC and compliance?
“This is a complex question, and I’m not sure we’ve found the answer yet as an industry — we’re still searching. I believe we’ll reach a better balance when we become even more effective at taking customer behaviour into account. Suspicious behaviour should trigger more thorough KYC processes, while normal behaviour shouldn’t require overly detailed questioning. This would ultimately give customers a smoother experience. I also believe we need to collaborate closely with regulators to highlight when well-intentioned player protection regulations may unintentionally push players towards the black market, ultimately putting them at greater risk. We must work together to ensure that unnecessarily complex KYC processes don’t push customers towards unlicensed operators.”
Looking ahead, what developments will shape the future of KYC?
“Adoption rates of e-IDs will continue to increase in the near future. In markets such as Italy, I believe the CIE solution (Carta di Identità Elettronica) will gain substantial market share given the new regulations and market guidance. In the UK, the widespread adoption of open banking should pave the way for a solid e-ID solution to be implemented sooner rather than later. Beyond that, a pan-European ID is on the horizon — we’re already seeing the eIDAS regulations creating a path for it. While I don’t think it will materialise very soon, it’s certainly something we need to stay aware of and monitor closely — it could be a real game-changer for companies like ours.
In addition, I’m confident that the use of AI will simplify much of the tedious KYC work. We’ll likely see many innovative KYC providers integrating AI into their products in the near future.
However, our golden rule will always be to offer the solutions and journeys our customers prefer — there’s no one-size-fits-all KYC provider.”
