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Compliance Updates

The importance of agile tech in a rapidly evolving market

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The importance of agile tech in a rapidly evolving market

 

Compliable’s licensing platform enables sportsbooks and iGaming businesses to obtain employee, entity, vendor and other businesses licenses across multiple states in the US, ensuring speed to market which is crucial as regulation in the region evolves. We caught up with Chief Regulatory Officer, Justin Stempeck, on how Compliable stays agile, adapting its solution to support an industry with increasing regulatory demands.

How has the ever-changing gambling regulation in the US had an impact on your offering since you launched three years ago?

The nature of the industry we are in forces us to constantly think ahead to be prepared for any changes to existing regulation or new markets opening up. Since we launched our solution, we have built on it to ensure we can offer our clients the support they need, and this has been driven by how the sector has developed in the US over the last few years. Our product offering now includes multiple modules to support any type of license that gambling companies need to enter regulated US states. The regulatory landscape is complex, but our platform removes a big hurdle for the industry, helping companies quickly apply and manage their key, employee, vendor, and entity licenses across many states.

As a tech start-up, we are always looking at ways to strengthen our platform and ensure we stay ahead of our competition. We work closely with our clients and partners to understand their requirements and incorporate this into our product development, and we also have a close dialogue with regulators. We have repeatedly worked with customers to understand their licensing workflow and customize our product to best fit their existing methods to offer them the most value.

What advantages does Compliable’s platform have over its main competitors in the market?

What sets our solution apart the most is the degree of completeness that it offers as it finalises applications fully, entering all data and documentation where it needs to be. The simplicity of using our platform is a huge benefit to anyone who goes through what is often a complicated application process.

The user journey is therefore important, and offering a streamlined and simple process as people navigate through the platform is something we have worked hard on. We have extensive FAQs and a live chat available, further improving the user experience and the support we can offer. The US is a market we know extremely well and as experts in licensing and compliance, we want to offer more than just a tech solution.

Our job is never done at Compliable as we are always challenging ourselves to do more. With the modern tech our solution is built on, we have the possibility to continue to innovate compared with other legacy products on the market.

What role has reg tech played in the expansion of the US gambling markets and could more be done in this space?

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It has been tremendously important for many companies who are smaller as they might not have the resources to handle it themselves. While hiring outside counsel to handle licensing applications has long been the norm for many companies, we instead empower the company itself to effectively complete the work in a time/cost efficient and thorough manner.

The reg tech space has evolved quickly over the years and there are so many areas where innovation can truly help gambling companies focus on what matters most to grow their business. Employee and entity licensing are an often-forgotten piece of the equation where using our solution can really make a difference. Our platform makes licensing much more approachable for people and we will continue to build out the functionality to ensure the license management process is as efficient and intuitive as possible.

Compliance Updates

JCM Global Receives Approval to Operate in West Virginia

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JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.

“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.

JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.

In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.

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Compliance Updates

SYNOT Games Officially Certifies Over 140 Games in Brazil

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SYNOT Games has announced that more than 140 of its games have now been officially certified in Brazil.

“We are delighted to announce that more than 140 of our games have now been officially certified in Brazil. This significant achievement allows us to expand our reach and introduce a diverse selection of games to this dynamic market. Brazil represents a key opportunity for growth, and we are committed to delivering exceptional gaming experiences to the Brazilian audience,” the Company said.

“We are thrilled to introduce our portfolio in Brazil, offering innovative and engaging gameplay that promises to captivate and entertain players,” Martina Krajci, CCO at SYNOT Games, said.

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Compliance Updates

Delasport Now GLI-Certified for Sports Betting in Brazil

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Delasport Now GLI-Certified for Sports Betting in Brazil

 

Delasport has just become one of the first suppliers to obtain a GLI certification for its sportsbook in Brazil, two weeks before the historical regulation comes into effect.

Continuing its global growth, Delasport is bringing several operators on board in Brazil. In order to complete the process, operators that are applying for a new Brazilian license have 30 days to provide all relevant platform certificates from the moment that they are notified by the regulator that their initial submission has been accepted. This is also the moment that they can pay the license fee. Still, failure to provide platform certificates will result in the application being placed on hold.

Delasport turned to Gaming Laboratories International (GLI) for the certification of its sportsbook against Brazilian technical standards. The historical partnership with GLI was further strengthened by the news, a few months back, that GLI had become the first laboratory to achieve the local accreditation to certify for betting systems, live game studios, and online games by the Secretaria De Prêmios e Apostas (SPA) in Brazil.

Delasport has successfully met all technical requirements for providing its sports betting solution to the largest country in South America. The certificate is evidence of the team’s experience, expertise, and determination to lead the way in key jurisdictions.

Obtaining a GLI certification for Brazil is a step towards cementing the trust players and operators have for Delasport’s products. This serves to show that the award-winning supplier is capable of meeting even the strictest industry standards for integrity and fairness.

“When we learnt that providing platform certificates to the regulator was on our partner operators’ critical path for obtaining the license, we immediately prioritized submitting the system to GLI for testing”, Delasport’s Chief Compliance Officer Filippo Ferri said. “Needless to say, GLI did a tremendous job of working with us to conduct the tests in record time, to match the submission deadline of some of our clients. I am also very proud of how our internal departments worked together to obtain this certificate, and of how they continue to push forward with the delivery of a datavault system that complies with SIGAP requirements.”

Operators that plan on entering the newly regulated Brazilian market will now have numerous advantages if they partner with Delasport. They will be able to provide their players with personalization features like My Sportsbook, My Event Builder, and My Combo that skyrocket revenues and retention.

Furthermore, Delasport’s KYC and AML provider is a market leader that guarantees the highest level of compliance for all operators that choose to go on this route.

Also, Delasport has already partnered with numerous local payment system providers and offers a real-time AI-powered Responsible Gambling system which can easily adapt to local regulations.

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Last, but not least, operators will feel Delasport’s support from the get-go all the way to establishing themselves as a market leader. Delasport is knowledgeable of cultural and regional differences and can address all localization needs from the early stages of engagement.

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