Compliance Updates
Swifty Global’s New Innovative B2B Gaming Platform Undergoes GLI Certification
Dear Cashmere Holding Company also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products it develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the company’s proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platform.
Swifty Global is pleased to announce that it has started the certification process for its new innovative B2B gaming platform with Gaming Laboratories International (GLI), the gaming industry’s gold standard for testing and certification. Once fully certified, this endorsement will not only affirm Swifty’s ongoing commitment to the highest industry and regulatory standards, but will also underscore the continued exceptional quality of the company’s technology offering.
The newly developed B2B platform sits at the center of the Swifty Global scaling and growth strategy and will unlock a substantial new revenue stream for the business. The platform will operate on a Software-as-a-Service (SaaS) basis, combining a monthly subscription model with a revenue-sharing component and will enable Swifty clients to seamlessly integrate with the company’s state-of-the-art technology via a white-label solution.
‘‘Initiating the process for GLI certification marks a significant milestone for Swifty,’’ commented James Gibbons, CEO of Swifty Global. ‘‘While we’re at the beginning of this certification process for our B2B platform, reaching this stage not only marks the culmination of over a year’s rigorous development of the platform, but it also sets the stage for the next phase of our growth strategy. By securing the GLI endorsement, it will effectively certify our B2B platform readiness for deployment across the majority of European markets and with this in mind we have already taken proactive steps to comply with regulatory standards in key European markets in addition to Gibraltar, Isle of Man, and South Africa,” added Gibbons.
In line with this, Swifty is actively pursuing certification under South Africa’s SANS 1718 standard. Established by South Africa’s gambling regulator, this standard is a crucial step before the platform’s introduction and official launch in the South African market. ‘‘The Swifty team are working tirelessly behind the scenes in order to secure this license before the close of Q4 2023. I am confident this will be achieved and once accomplished, it will mark the expansion of Swifty Global into the lucrative $1.8 billion South African gambling sector,’’ said Gibbons.
Swifty Global anticipates a substantial increase in revenue generation over the next 6 months. This surge in revenue is expected to result from the ongoing international expansion of the company, as well as the introduction of its new B2B offering and the innovative business model through which this will be delivered to customers.
‘‘Swifty is now entering an exciting new phase where the groundwork and technological development of the new B2B platform, which has been underway behind the scenes for the last 12 months, is ready to take center stage,’’ commented Gibbons. ‘‘The introduction of this platform and the Software-as-a-Service (SaaS) subscription model heralds a new era for Swifty, introducing a recurring fee model that targets a fresh set of customers. This approach not only ensures a more predictable and sustainable revenue stream but also enhances our existing revenue model. I have no doubt that this will substantially boost our already impressive revenue and increase the company’s attractiveness even further from an investor perspective,” concluded Gibbons.
Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling is poised to meet the challenges of the newly announced regulations on frictionless financial checks by the UK Gambling Commission and Betting and Gaming Council.
Under the new rules published by the Gambling Commission, operators have until August 30th to implement frictionless checks on all customers making £500 net deposits in any rolling 30-day period. These frictionless checks form part of a new regime designed to protect players at risk of financial harm and replace the current ad hoc approach to affordability checks.
Department of Trust also welcomes the interim voluntary code published today by the Betting and Gaming Council (BGC), the standards body representing over 90% of UK-regulated market operators. This code focuses on how responsible operators should support customers spending above the lower threshold set out by the Gambling Commission.
The supplier’s DoTrust Complete solution offers an integrated suite of frictionless and enhanced financial risk checks with a high level of automation capability -the only such tool built solely for safer gambling – and is perfectly positioned to help businesses navigate the newly regulated waters.
Charles Cohen, CEO of Department of Trust, said: “These important announcements flag the end of gambling’s ‘sus law’ where players faced seemingly arbitrary requests for personal information, operators were placed under a significant burden, and no one won
“We now know that in 120 days, every operator will need to perform frictionless checks on all players with net deposits in a 30-day rolling period of £500. A few months later this will fall to a much lower level.
“If operators want to protect their business, keep their customers and reduce costs, smart automation is the only answer.
“Department of Trust has spent over two years building the leading plug-and-play solution specifically for the gambling industry. Complete already automates over 90% of the processes required in both the new LCCP and BGC code. Now we know what the requirement will be, we are today committing to the goal of 100%. We want every operator and player to have instant assessments and sensible decisions cost-effectively. No one needs to lose sleep over this.”.
The post Department of Trust set to meet challenges of new affordability checks appeared first on European Gaming Industry News.
Swedish gaming giants’ games now available in the province of Córdoba’s newly regulated market
Play’n GO, the world’s leading casino entertainment provider, has today announced their expansion into yet another new regulated market, as the Swedish gaming giant has agreed a partnership with Betsson in the province of Córdoba, Argentina.
Argentina is currently in a process of regulation for online gaming purposes on a province-by-province basis, and the partnership with Betsson sees Play’n GO enter yet another regulated market, keeping up the momentum from 2023 that saw the company expand its global reach.
This announcement sees Betsson’s players in Córdoba gain access to Play’n GO’s entire catalogue of games, including classics such as Book of Dead, Reactoonz, and Moon Princess.
This announcement is a signal of intent from Play’n GO, who reiterate their commitment to be present in every regulated market in the world.
Michele Stefanelli, Sales Leader, LATAM and Southern Europe, Play’n GO said: “Our first foray into a new region is always exciting for us, and we’re looking forward to a successful partnership with Betsson in Córdoba. Players around the world, and especially in the LATAM region, have already shown their fondness for our content, and we’re quietly confident that this new region will be no different. We are on record with our commitment to a safe, regulated industry, and we’re very pleased to see that approach rolled out globally by lawmakers and operators alike.”
Maximiliano Bellio, Managing Director Betsson Argentina, added: “We’re pleased to welcome Play’n GO to the Betsson family here in the Córdoba region, and we look forward to many years of success together. Like Play’n GO, Betsson is committed to a sustainable industry model, so this partnership makes perfect sense for both parties. We’re sure our players will be as excited as we are once they start playing these games that have proven so popular around the world, so let’s get started.”
Play’n GO’s games are already available in the autonomous city of Buenos Aires and Buenos Aires Province within Argentina’s federal system.
Amazon Web Services (AWS)
OpenBet bolsters compliance technologies with the launch of geolocation product, OpenBet Locator™, powered by Amazon Web Services (AWS)
OpenBet Locator
provides a highly flexible, low latency and scalable alternative for global betting and gaming marketplace
OpenBet, a leading content, platform and service provider to the global betting industry, has bolstered its modular product portfolio with the launch of its new flexible and scalable geolocation product – OpenBet Locator.
Built on the backbone of Amazon Web Services (AWS), OpenBet’s strategic cloud provider, OpenBet Locator is a low latency solution that enables operators worldwide to locate, promote to, and monitor customers, remaining fully compliant with regulatory requirements.
The technology strengthens OpenBet’s reputation for market-leading player protection and compliance following the company’s acquisition of Neccton in 2023. With OpenBet’s regulatory reach and multiple licenses, brands will be able to ensure seamless and swift integration of its trusted and compliant technology into their ecosystem.
Initially targeting the North American market, the solution will feature a number of components, such as:
- Fully flexible geo-fence management and high precision location tracking
- Fraud prevention combined with real-time virtual private network (VPN) and location spoofing detection
- Player targeting for customer relationship management (CRM), data analysis and in-venue promotions
- Multi-tenanted solution that supports travelling wallet
- Easy and flexible configuration options to streamline business operations workflows
The product is underpinned by OpenBet’s unrivalled expertise within the global betting industry and is designed to remove the friction of geolocation to the end-customer’s onboarding process.
Jordan Levin, CEO of OpenBet, said: “Introducing OpenBet Locator is an exciting move for us and takes our modular product offering to a new level. Built in-house and leveraging AWS technology, we have developed a strong proposition that can be tailored to meet unique business needs.
“As a pioneer within the global sports betting arena for over 25 years, we have an in-depth understanding of the challenges and opportunities operators face within highly regulated markets. OpenBet Locator is a scalable, compliant and dependable geolocation solution that removes the barriers to operators’ success.”
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