Latest News
TrueLayer launches Payouts, a new way for operators to issue instant refunds and withdrawals
TrueLayer, Europe’s leading open banking platform, today announced the launch of Payouts, a new solution to tackle the issues of slow withdrawals and refunds. Payouts is already being used by TrueLayer clients, including the UK’s leading online car retailer, Cazoo, to instantly pay customers when they sell their car via the platform.
Today, customers expect payments that arrive in their account in seconds. The five days it can take for card or Bacs payments to appear frustrates customers and leads to a lack of loyalty. This is made worse when operators, as part of their due diligence, need to verify new user’s payment details and identity before issuing a payout, stopping customers mid-flow and making the process even slower.
Traditional payout methods require managing multiple reports, endless rows of data, and manually tracking each payment, creating inefficiencies, input errors and complaints from customers whose payouts were never issued.
TrueLayer has tackled the issue of fragmented and slow payout processes by combining open banking verification and the fastest payment rails available to ensure players are paid to the right account, right away. The open banking-powered verification process works by matching the name provided by the customer with what’s on file at their bank to confirm the details are correct. Results are returned in seconds. Gone are the days of asking customers to upload bank statements for compliance teams to review, or using micro-deposits that can be cumbersome for users to confirm.
With the player’s details pre-populated and verified, payouts are then automatically issued through TrueLayer’s robust infrastructure, connected to thousands of banks in the UK and across the EU through a simple API integration.
“Businesses today are laser-focused on customer experience, and the post-purchase experience involving customers requesting refunds or users withdrawing their funds, is critical to build loyalty. We built Payouts to take the pain out of these transactions and enable operators to create a compelling value proposition for their entire customer base – withdraw your funds or receive refunds instantly,” commented Murtaza Bootwala, Head of Payments at TrueLayer. “It is designed with iGaming in mind, where customers are growing increasingly frustrated by the poor experiences they have to endure as a result of outdated infrastructure. In 2021 it shouldn’t take days, sometimes over a week, to receive a payment.”
TrueLayer is the only provider that can deliver account verification, powered by open banking, with Payouts to deliver payments for operators that:
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Increase retention and encourage service-switching: granting instant access to funds that settle in seconds, 24/7, without having to go through lengthy verification processes, players get what they want – their money instantly – compared to five days that cards or Bacs can take.
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Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.
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Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.
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Streamline due diligence: using open banking verification, TrueLayer crosschecks the name provided by the end-user during registration with what’s on file at their bank to confirm that the details entered are correct. This helps businesses to minimise money laundering risk.
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Improve the customer experience: no don’t need to remember account details, or manually fill any forms. With a simple redirect to their bank they can authenticate their account details using fingerprint or Face ID.
“TrueLayer is leading the charge to ensure payments processes that truly work for the customer and the business, ditching outdated methods to deliver the best possible payments experience,” added Bootwala. “By verifying the account details before paying out, you can say goodbye to the days of failed or lost payments, and reduce the strain on customer support. And by offering instant payouts, iGaming operators can build players’ trust and encourage others to switch over to your service.”
The launch of Payouts continues the expansion of TrueLayer’s solutions built on top of its market-leading open banking network in 2021, following the launch of PayDirect in January.
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FairPlay Sports Media, the fan and AI-powered global sports media network, has launched Teammate, the industry’s first sports AI assistant on its WhoScored.com brand.
Teammate translates natural-language commands from sports fans and bettors, powered by a Google Gemini partnership, and redirects them to relevant betting opportunities, forecasting insight, and sporting data, to help enhance the user experience of football stats enthusiasts, as well as help level the playing field against the sportsbook, using text and data visualisations as communication.
Utilising the FairPlay network’s 25+ years of sports data assets, and its recent integration of a cutting-edge deep-learning neural engine, Teammate is the most advanced, AI-powered and fan-first tool which will allow the increasingly stats-hungry sports audience to go deeper into the numbers to enhance both their pre-match and live engagement and betting decisions.
Google Gemini has led the AI assistant charge of recent years, mastering creative and productivity tools, advanced reasoning and complex tasks, and engaging content delivery, all powered by its various advanced LLMs. Using this sophisticated platform, Teammate will access the same, well-known UI, while adapting its design and responses for those related to sports data.
Teammate, live now in beta mode, will revolutionise how sports fans find information, whether they’re a die-hard fan, a fantasy strategist, or lining up a bet builder, with its front-end designed to fit seamlessly as a white label into partner apps and websites, increasing brand stickiness and offering monetisation opportunities for those hosting the sports lifestyle tool.
Stuart Simms, group CEO at FairPlay Sports Media, said: “AI has integrated rapidly into our day-to-day lives, but there’s not been a truly bespoke assistant service that suits the needs of sports bettors and data-hungry fans. Teammate, which combines our prowess in delivery of sporting insight, with Google Gemini’s ability to serve users with natural, conversational conveyance of information, offers just that.
“Whether you need betting inspiration, you’re looking to find the best value that backs up a gut betting pick or want to explore betting opportunities around a player’s recent run of form, Teammate will point you in the direction to find the best bets and the most relevant markets, alongside forecasted tips and associated statistics and data.”
The post FairPlay Sports Media Launches Football AI Stats Assistant ‘Teammate’ appeared first on European Gaming Industry News.
World leading slots innovator, Nolimit City, has partnered up with the newly announced slots studio, Sneaky Slots.
Nolimit City have licensed out their trademarked xMechanics to Sneaky Slots, for use in their future game portfolio.
The two have agreed to feature Nolimit City’s proprietary xMechanics across several of Sneaky Slots new and yet to be announced slots roadmap.
Nolimit has always prided itself in creating a brand with a rich foundation and a loyal following thanks to its relentless innovation. Boasting over 19 in house xMechanics, Nolimit’s trademark mechanics will be featured on the new studio and promise to feature some of Nolimit’s most beloved mechanics, such as xNudge®, xWays®, xBomb® and several others. Players can experience several of these mechanics on classic titles, such as Brute Force, San Quentin xWays® and Fire In The Hole.
There’s not much to be said about Sneaky Slots as of yet, the mysterious studio seems to have a lot in store.
The post Nolimit City extends xMechanic licensing deal with Sneaky Slots appeared first on European Gaming Industry News.
Swing from the vines, exploring the jungle and its dense foliage for unimaginable riches! Various jungle animals join you in your quest to find gold, where each spin gives you plenty of opportunities.
ELA Games presents its newest release: Legacy of Lost Gold. Are you ready for the adventure?
The Heroes of the Jungle
Legacy of Lost Gold’s crown jewel is its Hold & Win Bonus Game. Here, various jungle companions and heroes show up in the special top row, each bringing their unique power-up to help players on their quest:
- Collect all visible coins for an instant payout
- Boost every coin by +1
- Upgrade the reel below by +1 to +5
- Multiply the reel below by x2
Additionally, respins will continue as long as new symbols land on the main bonus grid, giving players even more chances to stack their treasures high. Each time a hero arrives, the game’s intensity rises as the chance of juicy rewards increases!
ELA Games’ Latest Expedition
Legacy of Lost Gold is an example of the studio’s approach to game development: high-energy gameplay, visually-rich aesthetics, and engaging mechanics so players can have constant fun from the first spin to the last.
Yaroslav Soloshenko, ELA Games’ Business Development Team Lead, commented on the new release, “The team loves looking for new ways to keep players engaged and invested… not just in winning, but in the journey itself. Legacy of Lost Gold adds to the immersion with characters that help along the way, creating an experience that players resonate with. In this game, you’re not just chasing the next win; you feel like the main character, where each spin could be impactful.”
Play Now!
The gold is out there… just waiting for someone to swoop in and take it. It’s not going to find itself! Play Legacy of Lost Gold today and see if you can discover the hidden riches.
The post Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release appeared first on European Gaming Industry News.
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