Soft2Bet is an innovative software developer providing sports betting sites and online casinos and focused on making the iGaming industry more reputable and responsible. Including support for more than 450,000 live events and over 7,000 games, the company has fast gained a sizable footprint of the market.
Challenges Prior to Automating
Soft2Bet faced a range of challenges before partnering with SEON:
- Manual review processes that are lengthy
- Ubiquitous theft of bonus offers
- Operational inefficiencies
- Transactions with stolen IDs
- High chargeback rates
- Leveraging SEON for Risk Management
For Soft2Bet, implementing SEON into its anti-risk workflows was the game-changer. Using SEON’s dynamic fraud risk scoring, the company was able to automate its risk management to block clear fraudsters in real time, while letting real customers get into the action without delay. At key stages, custom business rules—gleaned from Soft2Bet’s unique insights—were deployed:
- At the Time of Registration: Digital footprint analysis which highlights possible fake accounts.
- At Login: Device intelligence identifies unauthorized login attempts.
- At Deposit: Fake transactions made with the stolen cards are detected and stopped
Outcomes and Operational Response
- Integrating SEON has been hugely beneficial:
- A 40% reduction in manual queries for more complex tasks
- Increased efficiency with a 20% cut in manual review times
Minimized bonus abuse, fraudulent sign-up, chargebacks through enhanced fraud detection at key points.
Easier registration and deposit processes for legitimate players, creating a smoother and more secure experience.
Reflections on Leadership and What Lies Ahead
As the Chief Compliance Officer explained:
“SEON changed the way we think about fraud prevention. This level of automation saves us a lot of time and such consistent effort, enabling us to streamline processes further whilst reinforcing our shared vision of globalising the integrity of iGaming, making it a more reputable and responsible pastime.”
Not only has this strategic partnership streamlined Soft2Bet’s risk management but it’s also set the new paradigm for customer journey protection without hindering operational excellence.
