The Money Factory is an online social casino operating legally across 44 states in the United States. The platform offers a fully compliant sweepstakes-based gaming experience, allowing players to enjoy casino-style games while redeeming winnings. Designed for secure gameplay and entertainment, The Money Factory provides a responsible and engaging user environment.
The Challenge
As a social sweepstakes casino, The Money Factory has to meet strict regulatory compliance requirements while preventing fraud. With high user volumes and the need for instant approvals, manual verification was never an option. The company sought a fast, reliable, and scalable solution that could automate identity verification, detect fraudulent activity, and ensure seamless KYC compliance without creating friction in the onboarding process.
Why Sumsub?
The Money Factory chose Sumsub for its comprehensive verification suite, ease of integration, and advanced fraud detection capabilities. Sumsub’s global coverage and adaptability to evolving regulatory requirements also set it apart from other solutions.
Trevor Pope
CEO of The Money Factory
Unlike other platforms, Sumsub provides a robust combination of AI-powered identity verification, liveness checks, and document authentication, reducing manual reviews and speeding up approvals. Its ability to verify social security numbers, detect fraudulent accounts in real time, and ensure compliance across multiple jurisdictions made it the ideal choice for us.
By integrating Sumsub, The Money Factory aimed to:
- Streamline user onboarding while maintaining high-security standards
- Prevent fraud by ensuring only verified users can participate in sweepstakes
- Comply with legal and regulatory requirements across all operating states
- Minimize user drop-offs related to verification and improve conversion rates
- Scale verification processes efficiently as the user base continues to grow
The Solution
The Money Factory has implemented Sumsub’s advanced verification solutions to create a secure onboarding and prize redemption process.
When users sign up on the website, ID Verification and Liveness confirm their identity and prevent fraud. Credit Card Verification ensures legitimate transactions, reducing chargebacks and unauthorized payments. When users request prize redemptions, Non-Document Verification (SSN Checks) is conducted to confirm eligibility and ensure compliance with regulatory requirements.
By optimizing its verification process, The Money Factory has achieved:
- Faster onboarding with minimal friction
- Improved fraud prevention, ensuring only real users gain access to the casino
- Full regulatory compliance through automated KYC and AML checks
Implementation
The entire setup was completed within a few weeks, allowing The Money Factory to start verifying users with minimal downtime.
Trevor Pope
CEO of The Money Factory
Implementation was smooth and hassle-free. Sumsub’s API and well-documented integration process made it easy for our development team to connect it to our platform. The intuitive dashboard and automation features also meant our team required minimal training to get started.
The Results
Since integrating Sumsub, the company has reduced verification time to just 12 seconds and increased the pass rate to 88%. The automated system ensures rapid onboarding with minimal drop-off, allowing for an efficient user experience.
Sumsub has also contributed to revenue optimization by:
- Strengthening user trust and retention by delivering a fast and secure verification experience
- Reducing onboarding friction, leading to more completed sign-ups
- Preventing fraudulent activity and minimizing chargebacks and unauthorized transactions
Future Plans
Trevor Pope
CEO of The Money Factory
As we are expanding into Australia, Canada, and many other international markets, we need a verification provider that can adapt to regional regulatory requirements, and Sumsub’s global reach makes it a perfect fit. We also plan to introduce new payment methods and faster prize redemption options, where Sumsub’s fraud detection will be critical in preventing abuse.