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ZignSec Unveils TrustPath at SiGMA Malta 2023

Published on
December 11, 2023

SiGMA Malta this year was an particularly important event for the ZignSec Group as we introduced KYC TrustPath to the wider market. However, this conference was more than just the launch of a new product; it highlighted the ZignSec Group's focus on enhancing customer verification in the industry. In addition, our booth was a doubtless success, helping cement the ZignSec brand and acting as a hub for conversation.  

Industry Insights from SiGMA

Customer Retention Challenges: Online gambling platforms are focusing on strategies like behaviour analysis and optimised advertising to improve customer retention.  

Growth in APAC: The APAC region is seeing a surge in online gambling, but the lack of stringent KYC processes among some operators is a challenge.  

LATAM and Chinese Companies: Many companies are expanding in Latin America but face hurdles with local regulatory compliance.

Regulatory Shifts in Peru and Chile: While broadening their horizons, businesses encounter unique challenges in complying with regulations. This is particularly evident in Peru and Chile, where both countries are moving towards regulated online gambling, emphasising the need for compliant KYC processes like TrustPath.

Cryptocurrency and Online Gaming: The growing link between these two areas, with the emergence of smart contracts, is enhancing transaction security and transparency of outcomes.

A Step Forward in Global KYC Solutions  

At SiGMA Malta, ZignSec Group's presentation of KYC TrustPath garnered attention, underscoring the industry's need for efficient KYC solutions. Feedback from both ex isting and potential clients proved that TrustPath could play a crucial role in tackling challenges faced by online gambling platforms.  

We have recently developed a new product in response to requests from our existing customers. Address Verification, an in-house built Automated AI-powered service for collecting and verifying Proof of Address documents. This includes Utility Bills and Bank Statements, ensuring compliance with AML requirements for customer address verification. Leveraging AI-trained machine learning models and categorisation AI, Address Verification extracts and structures data for matching against customer information, ensuring document recency. Address Verification is a part of TrustPath, but also can be offered as a stand-alone product.

During the event, ZignSec Group also emphasised their support for clients looking to expand into global markets. Aligning with our goal of providing secure, compliant KYC processes worldwide, we have focused on developing our product more independently, reducing reliance on aggregators. We met with many current clients and demonstrated our solutions on the floor.  

It is important to note that TrustPath is a huge step forward in terms of further automating and integrating our product offerings, however, prat of its value is the enhancement of our current portfolio. We received a positive response from key clients and look forward to sharing more about this evolving innovation as we will continue adding features and capabilities to TrustPath in the coming periods.

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