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GeoComply, a fraud prevention and cybersecurity company, has announced that the New Jersey Division of Gaming Enforcement (NJDGE) has approved its Core for Authentication (CfA) product, which will go live first with Prophet Exchange.
The CfA is part of the Know Your Customer (KYC) process and serves as an alternative for Knowledge-Based Authentication (KBA).
GeoComply has developed the product to verify identity through several different data points to remove friction from the onboarding process.
Jake Benzaquen, Prophet Exchange Co-Founder, said: “In the competitive world of sports wagering, ensuring a seamless experience for legitimate users while keeping fraudsters out is paramount.
“GeoComply’s new product offers precisely that – a blend of ideal player UX and security. We’re thrilled to integrate this solution into our platform.”
The compliance solution will launch on the Prophet Exchange platform, a peer-to-peer sports betting exchange.
Founded in 2018, Prophet Exchange offers a range of US sports betting markets, including the National Football League (NFL), Major League Baseball (MLB), the National Hockey League (NFL) and college football.
Lindsay Slader, GeoComply SVP of Compliance, said: “This approval underscores our dedication to creating solutions that meet the highest compliance and security standards.
“With the introduction of this product, we aim to expand our customers’ player acquisition funnel, while simultaneously ensuring the integrity of the online gaming ecosystem.
“We appreciate the NJDGE’s commitment to innovation that fosters a secure and player-friendly online gambling environment for the state’s residents.”
Only recently, GeoComply partnered with Bet99 for geolocation services in Ontario.
