Industry News
Fintech Companies Learn Gamification Techniques from iGaming Industry Leaders
At the recent Forbes Future of Fintech Summit, industry leaders discussed emerging trends within the fintech sector, and how iGaming innovation can help disrupt financial services. One of the key takeaways was the potential for cross-industry application of gamification or motivational engineering techniques, a concept discussed in depth by Soft2Bet CEO Uri Poliavich at the Summit. His insights offered a broader perspective, suggesting that the principles of gamification, while prevalent in iGaming, have significant untapped potential in fintech, financial services, and beyond.
Gamification is often talked about in reference to social gaming, but it is also a key feature in real money gaming and is the feature that has enabled Soft2Bet to grow so strongly in the past year thanks to higher engagement and retention levels leading to sustaining revenue growth.
If the use of gamification in iGaming results in increased engagement, customer retention, and revenue, then applying similar gamification features in the fintech sector could yield comparable benefits. As Poliavich told Forbes fintech contributor Meaghan Johnson during the Summit, the success of Soft2Betâs gamification technology, called Motivational Engineering Gaming Application (MEGA), serves as an example for the fintech sector to revolutionize its own engagement metrics by implementing gamification within its applications and products.
In Johnsonâs article on the subject, Uri explained that, âNow fintech is about neo-banking, customization, and adapting to new technologies that are replacing retail branches. A generation of users prefers to gamify the experience, and this is where iGaming; specifically Soft2Bet, is at the junction of different niches.â
In addition to gamification, several strategies were discussed where fintech companies could learn from the iGaming industry, including localization, personalization, and the use of artificial intelligence to promote a relevant and engaging experience.
Soft2Bet COO Gilad Naim, when discussing the future of fintech, added to Uriâs comments, highlighting Soft2Betâs MEGA innovations as an additional layer of entertainment for players that could seamlessly be integrated into the fintech space. The company even plans to launch a fintech product of its own, a gamified wallet, aiming to capture more user screentime and attention.
âWith MEGA, we have created an additional layer of entertainment for players. The increases in engagement, revenues, and deposits are proof that players will engage if you provide them with the products,â Naim explained.
Industry News
Scientific Games Announces Mike Cardell as Senior Vice President, Americas Systems
Scientific Games announces the appointment of Mike Cardell as the companyâs Senior Vice President of Americas Systems. As the industryâs fastest-growing lottery systems supplier globally, Cardellâs appointment is another example of the companyâs continued investments in people and products to innovate for its customers.
Mike Cardell.jpgCardell is an accomplished business technology leader with more than 17 years of experience and a proven track record in innovating technology-based products and services, including enterprise and consumer-facing applications, transaction processing platforms, large-scale IT conversions, strategic growth and impactful results.
He will lead all aspects of the companyâs Americas lottery system business, driving incremental revenue and expanding product offerings while nurturing existing client relationships to grow lottery profits responsibly. Cardell will also be executing product and business development strategies as well as overseeing central and regional operations, service and contract management.
John Schulz, President, Americas & Global Instant Products, said, âWith a keen understanding of developing strategies for sustainable growth, Mike will be instrumental in growing our systems business and ensuring innovation and operational excellence in our existing system operations. His strategic mindset and leadership experience make him a valuable addition to Scientific Games. We are excited to welcome him to our team.â
Before joining Scientific Games, Cardell spent more than 11 years at Fiserv where he most recently served as the global fintech and payments companyâs Vice President and General Manager of Next Gen Solutions: Signature and Cloud Solutions. In this role, he managed the modernization of legacy enterprise account processing software solutions and cloud transformation solutions for large financial institutions and financial technology companies. He also spent five years managing business development and marketing for Hewlett-Packard.
Cardell holds a B.A. in Public Relations from Texas Tech University.
Scientific Games is a trusted partner to 150 lotteries in 50 countries around the globe, providing games, technologies, analytics and services that responsibly drive maximum returns to their beneficiary programs.
Industry News
Navajo Gaming Honors 186 Team Members for Employee Milestones
This month The Navajo Nation Gaming Enterprise (Navajo Gaming) honored 186 of its total 1200 team members for reaching significant employment milestones including 15, 10, and 5 years of service for the enterprise. The event at Twin Arrows Navajo Casino Resort in Flagstaff, Ariz. showcased the impact and journey of each hard-working team member, with a special highlight for 29 employees who have served for 15 years.
Less than 10 years after Navajo Gaming was created by the Navajo Nation and charged with the mission of creating jobs, increasing revenues, and stimulating incremental economic development within the Navajo Nation, the gaming enterprise created over 7425 direct, indirect and induced jobs with an overall economic output of over a billion dollars.
âNavajo Gaming employs 1200 people, 85 percent of whom are Navajo citizens. The award-winning AAAâs coveted Four Diamond Twin Arrows Casino Resort shares Navajo Culture through architectural nuances and local artists. Each of the property dining eateries feature âNavajo Beef,â and traditional cuisine of the Navajo people, and our invitation to stay, play and relax at one of our four properties or Travel Center is an open welcome to the Navajo Nationâs beautiful scenic transformation,â Matthew Shunkamolah, Interim Chief Executive Officer of Navajo Gaming, said.
Team members recognized for 15 years of services have worked their way up to a wide variety of position within the enterprise from General Manager and Executive Director of Slots, to Director of Security, Food and Beverage Supervisor and Executive Director of Government Affairs.
Industry News
The International Association of Gaming Advisors (IAGA) Announces 2024 International Gaming Summit in Washington, D.C.
The International Association of Gaming Advisors (IAGA) will hold its 41st International Gaming Summit Monday, May 27 through Thursday, May 30, 2024 at The Ritz-Carlton Washington, D.C.
As a premier event that brings together leaders from all global gaming sectors, the Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisor delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.
âWe are looking forward to holding this yearâs 41st Annual International Gaming Summit in Washington, D.C., and are pleased to announce an agenda that includes a specific focus on some of the key sports betting issues the rapidly expanding US market is facing. As part of this focus, we will bring together representatives from global sports betting operators, regulatory agencies, professional sports leagues and other experts to discuss how the industryâs sports betting stakeholders can better work together to ensure a sustainable, responsible sports betting environment that is built on best practices lessons learned from other markets,â John Stawyskyj, President of IAGA, said.
âBeyond our sports betting focus, our diverse agenda includes discussions on other issues of importance including the growing impact of fraud and cyber breaches on regulated operators, a look into the federal and state lobbying process, an update on whatâs happening in other gaming markets outside North America, a deep dive into new technologies and how they might impact gaming and more. I look forward to welcoming our delegates to Washington and participating with them in lively discussions about these critical issues and more,â Stawyskyj added.
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