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William Hill introduces new KYC standards

By Rebecca Latios - Contributor
1 year ago

One of the most popular betting companies, William Hill, has teamed up with Accuity, the leading global provider of financial crime screening, payment services, and Know Your Customer (KYC) solutions, to establish “new efficiency standards.”

Accuity’s main task will be to transform William Hill’s customer screening approach by using AI techniques. William Hill has already chosen Firco Insight, a platform developed by Accuity’s specialists that combine account screening intelligence with high-performance processing and scoring capabilities.

Due to the new platform, the sportsbook will be able to screen customers against special watchlist, increase the accuracy of screening results, and streamline the entire process. The platform will also flag the high-risk customers and reduce the false positives on lower-risk customers by combining name matching, risk scoring, and big data.

“AI technology will never replace AML decision making, but it can certainly improve it. By minimizing false positives, we will be able to reallocate resources rather than managing an excess of false-positive flags,” said Steven Armstrong, Group Director of Anti-money Laundering at William Hill.

William Hill is the first gambling firm to adopt this solution as it seeks to uphold the same standard of financial crime screening as global banks.