The report examined onboarding issues that gaming operators face in the UK and abroad. It contains insight from operators which analyses customer drop-offs and why they happen.
The report highlighted the difference in funnel performances between small, medium, and large businesses, as well as how efficient each operator was at KYC.
It showed that on average 86% of UK customers pass KYC at signup; for foreign operators, this figure dropped to 70%.
But 14% of the 80% leave during the onboarding process, while this number rises to 30% for non-UK companies.
The amount of time it took to process KYC was also analysed; on average this took 11 minutes in the UK but for companies abroad this could take half a day.
HooYu found that the majority of customers in the UK and abroad were leaving when asked to provide proof of funds. This could be due to privacy or at times criminal activity.
David Pope, marketing director at HooYu, said: “This research highlights the damage being done across the sector when operators don’t refine their KYC processes.
"For a few relatively low effort changes, operators could be winning thousands more customers with a smooth onboarding journey UI and UX that customers find easier to complete, so they can successfully deposit and get that bet on in time.”
