BetVictor recently affirmed its commitment to security with two-factor authentication that seeks to strengthen player protection in a continually evolving technological climate.
We spoke to Jonathan De La Rosa, Chief Technology Officer at BetVictor, about the importance of compliance and security, as well as how the betting industry can lead the way when it comes to security innovation.
SBC: In the current technological climate, can you further detail the importance of betting operators placing a deeper focus on player security and data breaches?
JDLR: Cyber-attacks frequently exploit the challenges involved in ensuring the authenticity of users and their account movements. A common type of cyber-attack is credential stuffing, which consists of sensitive user data such as usernames and passwords being stolen from one website or system to gain access to the user accounts on other websites. Therefore, it is vital that operators have the highest levels of security and are continually looking at improving their defences against such attacks.
According to estimates by the Centre for Strategic international studies, cybercrime costs the global economy over $400 billion per year. All businesses with an online presence are at risk, and gaming operators with digital footprint, too, are responsible to ensure their customers’ data is safeguarded.
Could you tell our readership more about BetVictor’s new technology and overall strategy when it comes to safeguarding players?
The recent launch of our in-house built two-factor authentication (2FA) service is another step forward towards protecting our customers’ account details and reducing the risk of fraud or identification theft. With online crime and internet fraud more frequent than ever before, as a customer-centric business we’re always working on new and effective services and tools to enhance the customer experience.
We are continually working to reduce the risk of such attacks against our customers’ accounts and developing our own in-house technology is the best way to stay ahead of the game as we can quickly respond to emerging trends. For example: we monitor behaviour of how our customers interact with us and if we see an abnormal pattern then we will automatically take defensive measures to ensure the security of our customers’ account.
How significant is a multi-factor authentication when it comes to stopping potential security breaches?
Multi-factor authentication is critical to protecting the security of customers. A significant number of cyber-attacks involve passwords, so it’s vital gaming companies take every measure to ensure the sign-up and log-in processes for customers are as secure as possible. By integrating our in-house 2FA software we are able to offer our customers increased levels of security and this is something we will continue to improve.
Could betting apps lead the way with regards to sign-in innovation, utilising alternative methods other than standard passwords?
The gaming landscape is ever-evolving and industry regulators continue to respond to the rising demands to provide operators with a strategic direction focused on players, and we’re fully supportive of this. This undoubtedly helps the industry lead the way in innovations that can be used in many other online industries.
At BetVictor, we have a culture of compliance and this is reflected in all areas of our business, from CRM to Product Development. The recent 2FA integration and email verification are examples of the steps we are taking to enhance the security of our customers’ data.
How can you ensure that you find the perfect balance of an efficient and safe sign in process for your players?
The security of our customers’ accounts is of paramount importance, as is customer experience. By developing our technology in-house we are able to ensure that the safe sign-in process is as seamless as possible. We are able to bring these developments to our customers quickly and we believe that it is this speed-to-market and agility within technology delivery that sets us apart from almost all of our peer group.