Conferences in Europe

Viktoria Soltesz: the Online Payments Pro Teaching Us How Money Moves

Published

10 months ago

February 14, 2024

viktoria-soltesz:-the-online-payments-pro-teaching-us-how-money-moves

Reading Time: 6 minutes

Viktoria Soltesz is a Payment Consultant, BusinessWoman of the Year 2023, and now an Author, with her book “Moving Money – How Banks Think”, being published on all Amazon stores since early January 2024.

Viktoria is the founder and CEO of PSP Angels Group – an independent payment consulting firm with a vast understanding of the payment market, and an extended network of banks and financial providers, offering personalized payment consulting services, helping clients operate their business globally.

In her book, “Moving Money – How Banks Think”, she walks the reader through the history of transactions and financial systems, offers a detailed explanation of basic banking principles, and delves deep into payment solutions, requirements, risk policies, and compliance limitations associated with online payments.

European Gaming Congress 2024 (Warsaw, Poland)

Viktoria, congratulations on the publication of your book, and thank you for joining us to share more information about it with our readers! In the Foreword of the book, you introduce yourself, detailing your professional background and your fascinating journey into the world of online payments. Can you please give us a short introduction here as well?

My adventure began in England, where I worked for a well-known accounting software company, witnessing firsthand the globalization of financial practices. My move to Cyprus coincided with the adoption of the Euro, offering me unique insights into the island’s financial dynamics. In Cyprus, I started working in accounting and finance, offering tax planning and managing complex global transactions. When I faced various payment and banking compliance challenges, I determined to understand the payment industry and founded PSP Angels, an independent payment consultancy. My goal with the book is to simplify the payment and banking industry, educate businesses about the importance of compliance, and foster understanding between clients and payment service providers.

Blending personal anecdotes, real time stories and my professional experiences, I describe the challenges businesses face in navigating the evolving landscape of online payments. The book aspires to contribute to making online payments more efficient, secure, and understandable, while encouraging open discussions within the industry.

In the book, you speak of “Financial Literacy” and “Payments Literacy”, and how this fundamental knowledge is not taught in schools. Can you give us a brief summary of the key points that businesses should be aware of and take into consideration when setting up their financial operations? What are the basics of “Financial Literacy” and “Payments Literacy”?

Finance is the language of business and understanding the basics of accounting, taxes, and financial expressions is a must for every business. Financial Literacy is the knowledge to manage money effectively, and plan for future financial goals. Knowing the financial terms and concepts helps businesses to make informed decisions regarding savings, investments, and debt. On the other hand, Payments Literacy is often neglected and misunderstood. The concept of “how money moves” globally is not taught in schools, however today all businesses need to understand how to navigate various payment methods, systems, and processes. Payments Literacy encompasses a range of topics related to financial transactions, including online payments, electronic transfers, and traditional banking methods. It is essential for businesses to understand cybersecurity, the various compliance and regulatory environments, plan banking and payments ahead and source and select the relevant providers for these transactions. All international companies need to be aware of diverse payment methods to align with local customer preferences. Payments Literacy is complementing Financial Literacy and they are both vital for effective business operations.

As you describe your journey into payments and how the problems you encountered lead to understanding, you share instances of complicated structures, early financial compliance attempts and rigid bank processes around the mid ‘00s to 2010s. How has the landscape evolved by now? Would you say that compliance has found its footing, have the banking and payments processes become more clear and friendly to businesses and consumers alike?

I believe that challenges in payment and banking have become more complex and will continue to evolve. With the increasing shift of businesses to online platforms and their expansion into international markets, complexities in payment and banking processes are on the rise for everyone involved. Maintaining transparency, ensuring compliance, and managing the risks associated with uncertain territories and service providers has become a challenging task. The emergence of new technologies, such as crypto payments, and the variety of currency and asset management options add an extra layer of complexity to these challenges. Not to mention the various cybersecurity and data protection requirements, too. Businesses today not only need to be experts in the traditional financial structures but also have to adapt to the dynamic landscape of digital payments, banking, and payment methods. Successfully addressing these multifaceted challenges requires heightened awareness, strategic planning, and a commitment to staying informed about evolving technologies and about the ever-changing regulatory landscapes.

How has Fintech played a pivotal role in shaping the evolution of the payment market, and what key contributions or innovations has it introduced over the course of its history?

Fintech became a powerful force reshaping the traditional banking and payment market. Innovations in such a conventional industry was much needed and have significantly improve the efficiency and accessibility of financial transactions. One noteworthy contribution is the introduction of mobile payments, enabling individuals and businesses to seamlessly conduct transactions through their smartphones. This shift to mobile-centric solutions not only simplifies the payment process but also promotes financial inclusivity, reaching individuals who may not have had access to traditional banking services. This has opened up new markets for global trade.

Fintech also brought us the digital wallets and peer-to-peer payment platforms, facilitating fast and secure fund transfers. These innovations have transformed consumer expectations, placing emphasis on speed, convenience, and heightened security in financial transactions. Fintech has driven progress in data analytics, enabling more sophisticated risk assessment and fraud prevention measures. The integration of Application Programming Interfaces (APIs) has played a pivotal role in fostering collaboration between financial institutions and Fintech entities. This interconnected ecosystem has resulted in the creation of diverse financial solutions, ranging from automated budgeting tools to advanced investment platforms.

Speaking of Fintech, in practical terms, how are Blockchain and Cryptocurrencies currently being utilized in everyday applications within the payments system, and what impact are they having on traditional payment methods?

Blockchain and cryptocurrencies, although holding significant promise, currently face challenges in practical application within everyday payment systems. Unfortunately, these technologies have become vulnerable to misuse and scams due to the absence of regulation, undermining their positive potential. Despite their increasing adoption, the tarnished reputation blocks widespread acceptance. In every country, authorities worry that unmonitored transactions may facilitate tax evasion or criminal activities. Although efforts are underway to implement regulations and bring order to the landscape, the current situation remains complex, still providing opportunities for creative individuals to exploit gray areas. The potential benefits of blockchain and cryptocurrencies, such as enhanced security and transparency, are unfortunately still overshadowed by instances of misuse. Achieving widespread adoption necessitates not only technological advancements but also a coordinated effort to address regulatory ambiguities. It is crucial to educate users about the legitimate and responsible use of these innovations. Until a balanced and well-regulated approach is established, the transformative potential of blockchain and cryptocurrencies may be hindered by their association with illicit activities. This underscores the critical need for a comprehensive and carefully regulated integration into mainstream payment systems.

Readers will have the opportunity to meet you and get their book copies signed at the Prague Gaming & TECH Summit, on 26-27 March 2024; you will be participating as an expert speaker in two panels: “Navigating the Future: Integrating iGaming, AI, Fintech, and Advertising with Compliance and Data Privacy”, and “Capital Navigation: Expert Strategies for Securing Investment”. Can you give us a sneak-peek of the key points you will be discussing?

In the upcoming discussion, I’ll be sharing practical tips to help the audience navigate common challenges with banking and payment pproviders and their products, digital assets, and other payment methods, mainly present for the iGaming sector. My focus is on providing valuable insights into more cost-effective and secure banking and payment providers. Unfortunately, the iGaming sector is still facing serious payment and banking challenges, and complexities of global fund transfers. I’ll offer advice on executing these transactions in a safer and more economical manner. The aim is to deliver substantial content value to the audience by offering real-life tips and conducting workshops that empower individuals to navigate the intricacies of financial transactions with confidence.

In ‘Moving Money – How Banks Think, you mention that your goal is to introduce a new approach in both payment planning and execution. What are the key insights that businesspeople and everyday individuals can gain from your book, and in what areas can they seek your professional consultation?

In the book, I’ve distilled years of experience into a practical method outlined in the Strategy section, serving as a step-by-step guide to minimize risk and optimize costs for any online business. My consultancy work aims to bridge knowledge gaps by providing a detailed explanation of basic banking principles and fundamental economic concepts. I assist businesses by offering insights on staying updated about emerging payment and banking trends. My work helps clarifying various aspects and benefits of online payment solutions, positioning for innovation, seizing growth opportunities, exploring global payment methods and their impact on customer satisfaction, acquisition, and retention. I also provide guidance on understanding various regulations and compliance for navigating legal landscapes, ensuring data security and protecting consumer rights. My 20+ years payment and financial experience helps businesses creating effective payment plans for their complex online payment and banking flows. This comprehensive approach is designed to empower businesses with the necessary knowledge and strategic insights to successfully navigate the intricate world of payments.

Thank you for your time and this riveting interview, Viktoria! We look forward to seeing you at the Prague Gaming & TECH Summit this March, learn more about the exciting updates in the ever-evolving world of payments, and get our books signed!

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Conferences in Europe

EEGS Conference 2024 Wrap-Up!

Published

1 week ago

December 9, 2024

George Miller

Reading Time: < 1 minute

The EEGS Conference, held on November 27-28, 2024, in Sofia, Bulgaria, emerged as a landmark event in the gaming industry, showcasing an impressive lineup of over 50 speakers, more than 450 delegates, and participants from over 35 countries. The conference covered a wide array of topics, reflecting the dynamic landscape of the Gaming sector, including the future of iGaming, e-sports betting, evolving payment methods, the quest for regulatory balance in gaming, etc.

Prominent discussions also centered around critical issues such as restrictions on gambling advertising, cybersecurity in gaming, and the future of regulatory frameworks for land-based casinos and betting shops. The evolving trend of gaming tourism and online player protection was also thoroughly explored, highlighting the conference’s commitment to addressing the key challenges and opportunities in the gaming world.

In conjunction with the main event, the third edition of the Affiliate Conference took place on November 26, 2024, attracting over 100 affiliates, making it the only affiliate conference happening in Bulgaria. The event featured expert insights from notable speakers.

An additional masterclass held on November 25, 2024, attracted 50 attendees, with 65% of participants holding management positions from 15 different companies. This session focused on the critical topic of “The Role of the Employer in Gambling Prevention Among Employees,”

All events were hailed as top-notch, providing valuable insights and fostering networking opportunities among industry professionals. The EEGS Conference 2024 has undoubtedly set the stage for future dialogue and collaboration across the gaming sector, reinforcing Sofia’s position as a hub for Gaming innovation and excellence.

The post EEGS Conference 2024 Wrap-Up! appeared first on European Gaming Industry News.

Conferences in Europe

HIPTHER Announces Agenda Draft for Prague Gaming & TECH Summit 2025

Published

2 weeks ago

December 3, 2024

George Miller

hipther-announces-agenda-draft-for-prague-gaming-&-tech-summit-2025

Reading Time: 2 minutes

HIPTHER is thrilled to announce that the agenda draft for the highly anticipated Prague Gaming & TECH Summit 2025 is now ready! Scheduled for March 25-26, 2025, the summit will once again take place at its home, the Vienna House Andel’s Prague. This year’s conference, themed “The A-Flutter of Innovation,” promises an immersive exploration into the future of gaming and technology.

One Agenda, Two Knowledge Hubs

The Prague Gaming & TECH Summit 2025 continues HIPTHER’s commitment to covering the full spectrum of hot topics in the Gaming and Technology industries. This year’s program features two concurrent conference Knowledge Hubs packed with groundbreaking sessions:

● Compliance & Operations Hub at Conference room 1: (OPAL + TOPAZ)

● TECH Trends, Innovation & Marketing Mastery Hub at Conference room 2: (QUARTZ + SAPPHIRE)

60+ Expert Speakers Already Confirmed!

Over 60 industry leaders and innovators from iGaming, esports, compliance, VR, and more have already confirmed their participation. Among the distinguished speakers:

Dmitry Starostenkov – CEO At EvenBet Gaming
Max Sevostianov – Chief Operating Officer At Betbazar
Filip Sosnowski – CEO At SB Software
Damir Hasaković – SLOT Manager At Luckia Croatia And Board Member At Croatian Gaming Association
Ivana Flynn – SEO Igaming Expert
Gal Ehrlich – CEO At BETER
Tom Jang Lemke – CEO And Founder At SavageTech
Joerg Hofmann – Partner At MELCHERS LAW
Jakub Kolomicenko – Senior Compliance Officer At Kaizen Gaming
Gustaf Hoffstedt – Secretary-General at the Swedish Trade Association for Online Gambling
Asif Akram – Co-Founder At Tristratus Ltd
Becky Liggero Fontana – Reporter, Producer & Host

…And many more! Stay tuned as even more renowned experts will be announced in the coming weeks.

Special Focus on the Americas: LATAM & North America

The Prague Gaming & TECH Summit 2025 bridges industries and breaks barriers, offering unparalleled insights and networking opportunities in Central and Eastern Europe – and beyond! This year’s agenda includes two special panels focusing on the Americas:

North America’s Regulatory Landscape: Lessons from the Latest Markets

This panel will examine the latest developments across key markets, highlighting lessons learned from new and maturing jurisdictions. Industry leaders will share insights into navigating compliance requirements, fostering responsible gambling, and leveraging market-specific strategies to ensure sustainable growth in this ever-evolving region.

Navigating the Maze: iGaming Compliance Across LATAM

The LATAM iGaming market is a land of immense opportunity but also significant regulatory complexity, with diverse frameworks and economic landscapes across countries like Brazil, Colombia, and Mexico. This panel will explore best practices for navigating fragmented laws, addressing taxation challenges, and fostering trust with local regulators, ensuring sustainable growth in this dynamic region.

A Word from HIPTHER

HIPTHER’s Co-Founder, Zoltan Tuendik, stated about the Agenda and the Summit:

“The future of gaming and tech isn’t just about following trends—it’s about creating them. HIPTHER, often imitated but never truly replicated, invites you to the Prague Gaming & TECH Summit 2025, where innovation takes center stage and the next leap forward begins.”

Explore the Agenda and Register Now!

The full agenda draft is now live! Visit hipther.com/events/prague/agenda/ for details and secure your spot today. Stay tuned for more updates as the event approaches!

The post HIPTHER Announces Agenda Draft for Prague Gaming & TECH Summit 2025 appeared first on European Gaming Industry News.

Conferences in Europe

The Power of Data in Esports Betting: An Exclusive with DATA.BET’s Head of Sales Otto Bonning

Published

2 weeks ago

December 3, 2024

George Miller

the-power-of-data-in-esports-betting:-an-exclusive-with-data.bet’s-head-of-sales-otto-bonning

Reading Time: 4 minutes

The European Gaming Congress 2024 concluded with resounding success, attracting nearly 200 participants who benefitted from premier learning and networking opportunities. In this exclusive Q&A, we’re proud to feature Otto Bonning, Head of Sales at DATA.BET, our Badge, Bracelet & Networking Break Sponsor, discussing the power of data and how DATA.BET leverages it to create innovative esports tools.

Otto, thank you for sitting with us for this interview! Could you start by sharing a bit about yourself and your experience at the European Gaming Congress 2024 from moderating the panel on “The Future of Esports: Opportunities and Challenges”?

The European Gaming Congress 2024 left a lasting impression on me, standing out for its particular format and engaging atmosphere. The event’s structure seamlessly blended educational panels packed with industry insights and an open, relaxed environment that encouraged meaningful interactions with both leaders and potential partners.

During the panel discussions, Lasha Kupatadze, CPO at Atlaslive, a leading B2B software provider, focused on key aspects such as personalization and the evolution of sportsbook tools to meet user demands. I appreciated Lasha’s emphasis on adapting products for operators, as these are critical discussions that align with the challenges the industry is actively navigating

SavageTech CEO and Founder Tom Jang Lemke, a former semi-pro esports player, recalled starting out by managing trading manually for his sportsbook while analyzing streams. He delivered a compelling B2C perspective on esports opportunities and overcoming challenges. What I particularly appreciated was how the panel’s topic was explored from different viewpoints, creating more value for all congress participants and sparking meaningful discussions.

DATA.BET places a strong emphasis on leveraging official data for developing new tools. Could you explain how official data contributes to enhancing user experience and driving revenue growth for your clients?

Official data is fundamental to DATA.BET’s approach in esports, where precision and reliability are paramount.

Firstly, official data from trusted sources like Bayes Esports and GRID, who work directly with tournament organizers, ensures the highest accuracy in betting, reducing errors and enhancing the overall user experience. Combining all that with our own trading and models makes for an industry leading esports product.

Also, official data has allowed us to expand our content offerings significantly. For example, the number of CS markets has increased by 33%, and betting lines now remain open twice as long compared to platforms without official data, providing players with a broader range of options.

Moreover, official data minimizes risks by providing precise and consistent information, allowing operators to build assurance and offer a transparent betting experience. When used effectively, official data enhances platform reliability, expands market opportunities, and improves user retention – ultimately driving higher revenue and profitability for operators.

DATA.BET’s Data Feed combines Odds Feed, Live Score Feed, and in-house Risk Management. How do these elements work together to create a seamless experience for operators and their users?

DATA.BET’s premium Odds Feed, Live Score Feed, and in-house Risk Management are all powered by official data from our partners. With a low latency of 50-200 milliseconds and official data sources, our feed delivers unmatched speed and reliability.

Operators benefit from extensive coverage of 30+ disciplines and dynamic markets, including Player Props and in-game events, while integrated Risk Management ensures balanced exposure and maximized profitability.

Our official data allows us to keep an open betting line twice as long as competitors. Also, the synergy between our highly qualified traders, who possess deep expertise in their disciplines, and the advanced mathematical models developed and regularly updated by our Data Science team enables us to deliver exceptional value to operators, enhancing their performance and profitability. For example, over the past year, our clients have experienced up to 90% GGR.

Your risk management system is an integral part of your product offering. What sets DATA.BET’s Risk Management apart from other solutions on the market?

DATA.BET’s Risk Management system distinguishes itself by combining the expertise of our dedicated in-house team with advanced automated tools, providing operators with risk mitigation and platform security.

Our team of experts thoroughly analyzes betting patterns, particularly those of potentially fraudulent players. With a deep understanding of behavioral tendencies and statistical insights, our specialists identify reliable and unreliable players, proactively anticipate possible issues, and vigilantly monitor for fraud. This data-driven approach enables them to define user profiles based on in-game actions, creating a nuanced view of player behavior that enhances risk assessment.

They also work closely with the Trading team, providing them with a broader, more detailed perspective on user activity. This collaboration is precious when suspicious actions are detected, as our team’s in-depth analysis helps evaluate groups of players, assess risks, and make informed decisions on appropriate next steps.

Given the rapid growth in the esports industry, what future trends do you foresee in how data-driven solutions will impact the betting market?

Firstly, as modern UI takes central stage in sportsbooks, platforms must offer advanced personalization options, letting operators adapt seamlessly to their branding and customer preferences. Our new Single Page Application (SPA) is designed to meet these evolving needs, with features that prioritize flexibility, speed, and a seamless user experience.

Secondly, we expect to see more features from traditional sports adapted and enhanced for the esports environment. This trend will bring proven engagement tactics into esports, tailored to its audiences’ specific dynamics and preferences. For instance, Bet Builder enables users to combine multiple markets into a single bet, offering a tailored and interactive experience that appeals to savvy bettors. Operators benefit through increased stake sizes, broader market utilization, and valuable data insights for tailored marketing efforts.

Furthermore, as there is still demand for casual, fast-bet options, betting solutions will incorporate features inspired by casino gaming, adapting them to esports’ individual tempo and appeal.

Lastly, what advice would you give operators looking to stay competitive by incorporating Esports data feeds and risk management systems?

Operators aiming to stay competitive should choose providers with a full range of offerings, including official data, strong trading teams, reliable data feeds, and versatile tools like Bet Builder, ensuring optimal profitability and player engagement.

Official data from trusted sources will be vital as it ensures accuracy, minimizes risks, and builds user confidence, which is crucial in the fast-paced, highly competitive esports market. Beyond speeding up processes, it enables operators to maximize profitability by offering more reliable options, keeping betting lines open longer, and reducing errors that can lead to financial losses.

Lastly, to succeed in esports, it’s essential to understand your audience’s behavior and stay informed about industry trends. Keep track of tournaments and invest in learning how to promote effectively. While implementing progressive features can enhance your platform, generating significant revenue from esports without a solid marketing strategy is challenging. Numerous examples exist where operators leverage marketing activities to promote major esports tournaments in their projects. It provides an additional boost to the events and drives substantial revenue.

Special thanks to Otto Bonning for expertly moderating the insightful panel “The Future of Esports: Opportunities and Challenges”.

The post The Power of Data in Esports Betting: An Exclusive with DATA.BET’s Head of Sales Otto Bonning appeared first on European Gaming Industry News.