MIRACL has recently announced Bulbet Bulgaria as their first betting customer for the ‘MIRACL-Trust’ solution that was launched earlier this month. MIRACL-Trust is a customized binary proof ID solution, which the company has developed for the increasingly diverse compliance needs of the igaming/betting sector.
In securing Betbul as their first betting industry client, MIRACL will become the lead provider of ID provisions and player authentication services for the Bulgarian betting firm. Betbul is currently seeking to meet European PSD2 transactional codes and standards.
Ask for comment on this new deal, Bulbet Chairman Graham Martin says: “Dealing with thousands of transactions on a daily basis--both Social and Real Money--it’s essential that Bulbet is using the very best technology for authentication. MIRACL delivers this with its zero-knowledge proof technology that is easy to implement and seamless to manage. In some ways the requirements for Social were even harder, no other solution out there could provide the security we need at a price point which made sense.”
In an update to their stakeholders, Martin, along with the rest of the Bulbet management, backed MIRACL, saying the company offers the most business-flexible ID verification. The deal is expected to significantly expand Bulbet’s KYC protocols. Among other things, the benefits point to the fact that MIRACL-Trust solution does not hold stored user data with customers using a standard 4- to 6-digit PIN to access domains. This indicates that MIRACL effectively minimizes user data liabilities and cybersecurity threats.
For his part, MIRACL CEO Rob Griffin has this to say: “Available for desktop browser and app, MIRACL-Trust authentication is ideal for all gaming sites. It’s very simple to implement yet provides security for authentication like no other. With pressure building for safer gambling and highest levels of compliance--both for gaming licenses and PSD2, MIRACL-Trust is the perfect solution. What’s more, its PIN-style activation completely eliminates over 90% of all attacks. We’re thrilled to be working with Bulbet. They look set to be the most popular gaming site in Bulgaria and with the best content so we’re honored to be part of the launch.”
MIRACL develops specialist ID verification software for highly-regulated market incumbents. Their MIRACL-Trust solution offers true two-factor authentication using the lates zero-knowledge proof (ZKP) technology. This does away with such outdated security passwords as passwords, push notifications, SMS texts, and even key cards.
The solution’s usability is paramount, and is perhaps the primary reason for Bulbet to choose MIRACL-Trust over other authentication solutions. There is no need for additional user enrolment steps. All a user needs to do is authenticate and sign in with a simple PIN. There is no requirement for hardware, and no need for fiddly second steps.
Both MIRACL and Bulbet expect users to appreciate the simplicity of the authentication process, and MIRACL assures organisations that they will come to appreciate the reduction in support and maintenance required. The PIN authentication also eliminates any risk of credential stuffing, a fact that is good news not only for users, but also for gaming operators, as they could face fines if customer data is hacked on their platforms.