FinCrime Analytics, a financial technology firm focused on risk evaluation and financial misconduct within the iGaming sector, has partnered with WagerWise Advisory, a top firm offering regulatory compliance guidance to gaming companies. Their objective? To simplify the frequently unwieldy and intrusive procedure of validating a player’s wealth origin.
By merging their knowledge with open banking solutions, they intend to establish a more seamless journey for players while guaranteeing gaming companies fulfill all legal obligations. This is particularly vital in the current environment where operators face growing demands to combat money laundering and champion responsible gaming practices.
Head of WagerWise, Kirsty Caldwell, emphasized the detrimental effects of existing verification techniques. Soliciting bank records and salary slips for even small affordability evaluations introduces friction for the player and can be perceived as a breach of privacy. This can result in revenue loss for operators as players might opt to spend their entertainment budget elsewhere.
Armalytix Chief Executive, Richard McCall, stated that their partnership with Betsmart has yielded a client experience that integrates diverse revenue streams and affordability assessments. These evaluations are smoothly woven into various points of the wagering procedure to eliminate any needless obstacles for the user.
He further stressed that Betsmart was the ideal collaborator for Armalytix because of their comprehensive grasp of regulatory adherence and their steadfast dedication to ethical gaming practices.
