Callcredit on regulatory compliance

Share this article
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Specialists in regulatory compliance, Callcredit, speaks about how igaming firms can meet the demands of an ever more complex matrix of standards.

 

All igaming operators will be aware that regulation is not what it once was. As the volumes of the igaming rule book continue to grow the need to outsource methods of compliance grows with it.

Callcredit Information Group is attending ICE Totally Gaming for another consecutive year, and invites interested parties to speak to them about how an innovative use of data can help firms meet their regulatory requirements. From Know Your Customer to responsible gambling, age verification and anti-money laundering, Callcredit’s expertises enables operators stay on the right side of regulators without disrupting the customer’s journey.

It’s been a year of quite rapid change in the iGaming sector, especially with a spate of new anti-money laundering initiatives and regulation. As this has changed so has the demand for Callcredit’s services.

“In previous years when engaging with iGaming operators the main interest has been in light touch identity verification (focus on high acceptance rates) and payment verification.,” said company CEO Mike Gordon. “Due to the increased level of regulation relating to AML practice operators have begun to increase the scrutiny of their checks. This has driven an increased demand for further customer information.”

Gordon explained that at a basic level this has meant operators have implemented more robust checks on high risk players; looking at identity verification through more data sources, but also considering multiple negative warnings, such as PEPS and Sanctions.

“At a more advanced level operators are looking to understand more about their players to aid them making a risk based decision. This often involves looking at a range of further information including types of account holdings, residency, affluence and negative public information.”

Looking forward, Gordon expects these trends to continue and the need for assistance with compliance to become more complex, and firms struggle to adapt to plethora of independent regulatory regimes.

“The continuation of increased compliance costs due to independent regulation for specific jurisdictions is likely to continue to influence the industry. The theme of mergers and acquisitions is going to continue. Further to this operators may begin to further focus their operation in specific jurisdictions and pull out of others, similar to what was seen in the Danish market when it brought in its own regulatory act. Marketing is likely to become more focused as operators move away from blanket marketing techniques and begin to implement bespoke approaches which will hopefully cut costs and increase efficiency.”

Gordon also cited European jurisdictions moving towards adopting the practices initiated by the UKGC in licensing and advertising, implemented in 2014, which he also predicts will lead to an increase in AML regulation.

“We’re experts in enhanced due diligence,” added Gordon, ‘helping to improve your business’ efficiency and reduce the need for manual intervention whilst providing you with a clear audit trail, so you’re trusted by your customers. We can give you the tools to help profile your players and protect vulnerable groups all while improving your match rates. With more data for 18-25 year olds than our competitors, we can help you verify younger players with a thin credit file, increasing your customer base.”


Share this article
  •  
  •  
  •  
  •  
  •  
  •  
  •