After signing a new agreement with Sumsub, an identity authentication network that encompasses the KYC, KYB and AML compliance disciplines, Pinnacle would strengthen its commitment to social responsibility.
Sumsub will assist the operator through the new agreement in streamlining its onboarding customer procedures to meet key enforcement criteria across various jurisdictions, as well as helping to protect their users from excessive gambling risks.’
Pinnacle’s Legal, Compliance and Regulatory Manager, Veronique dos Reis, commented: “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.”
A suite of verification methods such as biometric checks and AML screening will benefit Pinnacle. Furthermore, Sumsub will ensure precise verification of the source of funds so that customers of Pinnacle do not spend more than they can afford.
In addition, legal chargeback security mechanisms will be supplied to Pinnacle, improving its compliance with responsible gambling standards.
For more than 700 digital solutions worldwide, including BlaBlaCar, Yandex, PaySend and Xena Exchange, Sumsub serves as the lead onboarding client.
Jacob Sever, Co-founder of Sumsub concluded: “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.”
Compliance in betting is a tricky business. However, @Pinnacle now has the solution that will unite all necessary checks with built-in expertise and a powerful no-code management system to enable compliance on the fly!https://t.co/Q2vUIUZqfB
— Sumsub (@Sumsubcom) November 18, 2020