With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres.

Kaizen Gaming

The recently re-branded Kaizen Gaming has added to its core management team by welcoming Ioannis Koutrakos as group marketing director, succeeding Chris Tzalavras who is now head of commercial for the Stoiximan brand.

Forming part of the company’s strategic approach to achieving local and international expansion, Koutrakos will be charged with heading-up marketing and communication projects that involve both Stoiximan and Betano brands across all markets.

Panos Constantopoulos, CMO Kaizen Gaming, stated: “We are really excited to welcome Ioannis to Kaizen Gaming family and looking forward to see his wealth of experience incorporated in this key leadership position. I am sure he will thrive in pursuing the company’s great dynamics and values, while developing new, innovative ideas.

“Along with Ioannis, we hope to further enhance our brands’ image across markets. His knowledge and experience in the sector of technology, being in top-tier positions and undertaking big projects, offers great value to our company.”

Paysafe

Payments platform Paysafe has announced the appointment of Jeffry Beene to the position of senior vice president of merchant risk.

Reporting to chief risk officer Richard Swales, and bringing in excess of 25 years leadership experience in risk and payments, primarily in the US market, Beene is to gain overall responsibility for leading Paysafe’s merchant risk function.

In addition to overseeing all merchant risk management globally, Beene will be responsible for monitoring risk across ISO partners, independent software vendor partners, and distributors.

Swales said: “We’re delighted to further strengthen our team with a leader of Jeffry’s caliber and experience. We’re confident that Jeffry, a pioneer in the U.S. payments risk management space, will ensure risk and compliance play an instrumental part in helping Paysafe fulfill its vision of becoming the global leader in specialized payments.”

Mohegan Gaming and Entertainment

Mohegan Gaming and Entertainment has appointed Kevin Lowry as assistant general manager of the operator’s flagship Mohegan Sun Connecticut property.

Working alongside Jeffrey Hamilton, president and general manager of Mohegan Sun, and the leadership team on all major initiatives, Lowry will be responsible for finance, gaming, cashiering, tenant and retail operations at the facility.

“We are pleased to introduce Kevin Lowry as the new Assistant General Manager of our flagship property,” said Mario Kontomerkos, CEO of MGE. “Kevin has been a member of the Mohegan family for more than 20 years and served Mohegan Sun Connecticut faithfully since we opened our doors in 1996.

“We are confident Kevin will guide Mohegan Sun, one of the largest integrated entertainment resorts in North America, on a path of continued growth and success.”

Maxima Compliance

Full-service compliance provider Maxima Compliance has lauded “another major hire,” with María Romero de Alba joining the company as senior business development manager.

Romero de Alba joins Maxima Compliance’s commercial team from BMM Testlabs, and will work across the firm’s client base and Complitech product.

Antonio Zanghi, founder and managing director of Maxima Compliance, commented: “Maxima Compliance continues to expand its team aggressively to consolidate our position as the industry’s leading compliance specialists.

“María perfectly fits the bill and we are confident that her commercial expertise will help take us to the next level.”

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Seminole Hard Rock Support Services

Seminole Hard Rock Support Services, an organisation created to provide support worldwide to hotels, casinos and cafes for Seminole Gaming and Hard Rock International, has unveiled the appointment of Keith Sheldon as the new president of entertainment.

In the role, Sheldon will oversee and direct the entertainment function for Seminole Gaming and the Hard Rock International brand.

Sheldon most recently held the position of executive vice president of programming and development at BSE Global, where he led the development of content opportunities and special events at Barclays Center.

“Keith Sheldon has a proven track record of success and an impressive list of accomplishments from his previous endeavors that will set him apart in this role at Seminole Hard Rock Support Services,” said Jim Allen, chairman of Hard Rock International and CEO of Seminole Gaming.

“We are excited to welcome him to our team and are certain he will continue to leverage his expertise in the entertainment industry to provide unbeatable experiences that our fans will enjoy for years to come.”

Paysafe

Payments platform Paysafe has appointed Afshin Yazdian as CEO of its newly formed US acquiring division, joining the firm on July 1 and being charged with “bringing to life Paysafe’s vision of being the US’s leading payments solutions provider”.

Yazdian boasts more than two decades of leadership experience in payments, and most recently held the position of president of Priority Payment Systems, a Georgia-based payments technology firm.

This latest appointment completes the executive leadership team for Paysafe’s restructured Payment Processing business unit, which now operates as two, distinct customer-focused divisions.

Philip McHugh, CEO of Paysafe Group, commented: “We’re delighted to complete our executive leadership team in payment processing with the appointment of Afshin. The current COVID-19 outbreak poses significant challenges for our direct merchant customers as well as our ISO and Agent partners, and we’re confident that Afshin, with his track record of building and managing high growth organisations, and his laser focus on customer service, will ensure that we all emerge stronger as the market stabilises.”

Alot solutions

Alot Solutions has announced the appointment of Abigail Wahnon as head of legal and compliance. This appointment will support the business as it continues to expand in the B2B and B2C markets providing prize cover, technology and content to a wide range of customers.

Wahnon is lauded as bringing over 10 years of corporate legal experience, having worked in senior management, legal and regulatory positions in Gibraltar, Spain and the UK. She will be responsible for legal, company secretarial and compliance functions at the company and will help to support and contribute to the continued growth of the business.

Michael Carruthers, CEO of Alot Solutions, commented: “Earlier this year Alot Solutions launched to offer our prize cover, technology and content to a diverse range of operators. Having someone of Abigail’s calibre join our team will help us to grow quickly and safely as we power innovation in the lottery, gaming and prize promotion sectors to benefit players, operators and their good causes.”

Hong Kong Jockey Club

The Hong Kong Jockey Club has named Philip Chen as the chairman of the club after being elected by the firm’s board of stewards.

Chen will take over from Dr Anthony Chow, who has stepped down from the HKJC after 18 years as a steward, two of which were as chairman.

In addition to Chen’s appointment, the board confirmed that Michael T H Lee was elected as the new deputy chairman. Lee has been a club member since 1989, a voting member since 2001, and currently serves as director of Oxer Holdings.

Speaking about the chairmanship, Chen said: “It is an immense honour and privilege for me to take up this new role. Our past chairmen, stewards, voting members and management have built a strong foundation for the Club over the decades. In particular, I would like to thank my predecessor, Dr Anthony Chow, who has contributed so much to the Club and to the community it serves.”

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James Elliott, Director of Legal at LeoVegas Group, shared his personal experience with the audience at the Payment Expert Summit in Lisbon, describing the steps he had to take to verify his identity in order to attend the recent event in Portugal.

Elliott wasn’t simply venting about the process – he was one of three speakers discussing the upcoming digital ID framework in the European Union (EU). This framework is designed to address exactly the kinds of issues Elliott experienced, introducing a digital wallet that aims to give all EU citizens access to a secure, unified digital ID by 2030.

This digital wallet will allow individuals to seamlessly verify their identity and obtain important documents, such as driver’s licences or medical prescriptions via a singular platform. The EU’s vision is to create a system where users have control over their ID and personal data, allowing different levels of access depending on the service or interaction.

However, the question posed to Elliott, Charlotta Shelbourg, Director of Product at Kindred and Peter Murray, Director of Strategy for Betting and Gaming at Mitek Systems, was questioned whether this framework presents a significant opportunity for operators in the gaming industry.

Since the framework is identity-based, it is expected to help operators streamline the onboarding process, which has long been time-consuming. Murray noted that this process hasn’t evolved significantly, even with the advancements in technology, but maintains that this framework could be a “fundamental game changer”. 

The panel stated that the benefits of this framework extend beyond operators, as most importantly, it will benefit consumers. This is crucial, as widespread adoption hinges on consumer acceptance, a topic the speakers addressed later in the discussion.

For consumers, the digital ID framework promises significant benefits by granting them enhanced control over their personal data. Individuals will have the power to determine what information is shared, with whom and when, ensuring that their privacy is safeguarded. 

This approach not only looks to bolster security by minimising the risks associated with sharing sensitive documents through traditional means, but it also accelerates transactions, making them quicker and more efficient. 

With a unified digital wallet, users can verify their identity across various services and jurisdictions in an instant, eliminating the lengthy processes of the past. Ultimately, this system aims to empower consumers to take charge of their information and take the power from third-party companies.

Trust, security and adoption

However, while this framework sounds promising on paper, there are still concerns and challenges that need to be addressed. One of the most significant worries, especially in light of recent discussions about fraud in the UK, is the risk associated with having all personal data stored in a single wallet.

Elliott said: “I think (digital IDs) are also potentially very vulnerable because if you’re putting all of that info in one place we’ve got to make sure the person providing that has got security because that will be the biggest target for hackers and identity crime.”

The speakers mentioned that, in addition to implementing top-notch security measures, it is crucial to reassure customers about the safety of their data. This reassurance stems from a foundational level of trust – something that is essential between the customer and operator.

Operators have observed that players are often reluctant to share their personal data when placing bets, particularly with the rise of Open Banking. Shelbourg highlighted that this hesitance is partly due to the perception that it feels “intrusive” to provide such extensive information for a small wager.

Shelbourg and Murray discussed that a solution to this problem alongside education will be branding, making sure that your company’s brand is trustworthy and reliable. 

Demographics were also a significant topic of discussion regarding the challenges to adoption. Similar to many emerging technologies, older generations tend to be more cautious about using them, and in some cases, their apprehension is justified. This observation aligns with statistics reported by various industries concerning Open Banking adoption rates.

These rates will vary based on demographics and the influence of other organisations adopting these systems. Shelbourg pointed out that if large state-owned banks and institutions embrace the digital ID framework, the rollout will happen “quite easily.” However, if only gambling companies are involved, it will likely take significantly longer to achieve widespread acceptance.

In addition to improving the onboarding process for operators, the panel discussed several other areas where the digital ID framework could have a positive impact, such as enhancing fraud prevention – particularly regarding bonus abuse – and addressing the contentious issue of cross-border jurisdiction.

Since this framework will be managed by the EU, it presents a unique opportunity for standardisation. This is particularly significant for the gambling industry, which typically faces a landscape of varying rules and regulations across different markets.

However, this technology may open the door to standardisation discussions, which Elliott believes won’t have much influence on the gambling sphere. 

He said: “You rarely get a Spanish player in a Spanish location wanting to go and play on an Italian gaming site”, adding that this also isn’t allowed by many operators.

One significant shift this framework could bring to the gambling industry is the impact on identity companies and third-party providers, such as Murray’s Mitek Systems. These companies may need to consider offering similar solutions, but they’ll be competing against a free option provided by the EU.

“If you’re a current identity provider, you’ve really got to have your eye on this. It might be five years, it might be 10 years, but if you’re doing nothing your business model is fundamentally under threat,” Murray concluded.

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Mobile payments have seen significant growth within a range of African markets, with Ecobank Mobile, MTN Money Mobile and M-Pesa leading the charge. There is still however much more gambling operators can do to provide a true unified payments approach. 

During a panel discussion at SBC Summit‘s Payment Expert Summit in Lisbon, this topic was broadly analysed by leaders in both the payments and gambling sectors to outline some of the solutions operators can provide to its user bases. 

Andria Evripidou, CEO of crypto gambling payment processor XDA.io, believes that there is a new thirst for more payment methods to be introduced by emerging market residents and exemplifies the need for more. 

She said: “We know that emerging markets have struggled with their payments, but I think we are hoping that they leapfrog from heavy cash usage. Within the time span of five years they have jumped to mobile payments, and now they are jumping into the adoption of cryptocurrencies. 

“So it really does show something about their thirst for innovation and unified payments is exactly that innovation they are after.”

What the growing appetite for new payment methods means for operators in the gambling space is how to successfully implement them. 

Merchants and operators alike within emerging markets are seeking these payment integrations but the capabilities are, more often than not, too challenging to find. This is also particularly even more challenging when seeking to adopt more niche payment methods. 

Galina Bineva, Commercial Director for OKTO, believes that not only does this integration process needs to become more streamlined, she also highlighted additional benefits to adopting some of the more unknown methods. 

“Card payments could be reviewed in one market as a predominant payment method, which could help make for great adoption,” said Bineva. 

“I believe not only that the main and vital payment methods can enter the market is the first component for acceptance, but also the niche methods that have yet to see great adoption as there needs to be greater focus on this area. 

“These aspects also go a long way for other aspects such as compliance, KYC, loyalty, and a whole range of features that can be enabled by integrating various payment methods.”

From an igaming perspective, what more can operators do to better facilitate a more seamless payment process for those who are underbanked in these emerging markets, who predominantly still interact with traditional financial services. 

George Haralabopoulos, Head of Payments Product at Kaizen Gaming, believes that igaming companies should first consider what are the market preferences for such payment methods, placing a heavy emphasis on localisation. 

“it all depends on the maturity of the market”

Tom Chandler, Payments Director at Flutter

He shared: “What an igaming platform should do in the case of an emerging market with limited resources, it should first consider alternative payment methods, which are increasing more and more. 

“We have seen this in a big number of markets showing they can make a difference. Also, implementing local payment providers is something that can definitely help in the right direction to give the customer options that they are familiar with, but by also integrating these local rails, this can also help attract customers.”

When it pertains to payments in localised, emerging markets, igaming operators are increasingly viewing this aspect of a player’s experience on their platforms as vital for customer retention and loyalty. 

If a player can not perform a deposit or receive money in their preferred payment method, more often than not they will decide to leave that platform in search for another operator that will cater to their payment needs. 

For Tom Chandler, Flutter’s Payments Director, he believes that how mature a market is becomes essential for a company like Flutter when it comes to knowing which payment methods and processes to implement. 

When discussing how igaming and betting companies can overcome these challenges, he proposed a more unified frontend approach, if that can be attained. 

He said: “If you have a multitude of methods on a unified frontend, obviously from an access aspect it is a lot easier. If you look at markets that are more mature, sometimes it can work in a way that can work a lot faster when you look at Open Banking products.”

“But it all depends on the maturity of the market and also, what would you define as an emerging market? Is it regulated yet and has it become accessible for commerce?”

Relating back to a previous panel session at the Payment Expert Summit, defining what exactly a mature market is to many payments and gaming companies is a non-starter. 

Even if you were to look at one of the most perceived mature payments and gambling markets, the UK, even this country is embarking on new regulations on both fields that will change the trajectory of its landscape. 

However, a shining example of an emerging market that has sufficiently prepared for the enormity of gambling payment processing it is about to endure is Brazil, and its instant payment rail PIX. 

PIX accounts for more than 90% of all monthly transactions in Brazil and is only active in its native country for the time being. All gambling operators will almost certainly be implementing PIX to gain a headstart in the potentially lucrative Brazilian online sports betting market. 

But for those operators seeking to further expand into different territories, if the market does not have a predominant localised method like PIX, education and knowledge of the payments landscape in said country will go a long way in being able to thrive as a platform that players will no doubt return to again. 

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Das was speaking to Payment Expert ahead of the Payment Expert Summit in Lisbon, as he explained that without adequate data sharing across departments it is ‘ hard to spot the bad guys from the good’.

In today/s highly digitized and tech driven world, response teams need to be enlightened and multifaceted when it comes to tackling sophisticated fraudsters. 

The need for mature and effective strategies comes at a time when the digital evolution accelerates and online transaction volumes continue to grow. 

In terms of adapting to new challenges, Das stated: “The first challenge is to frame the nature of fraud: PSD2 means that payment transactions are authenticated/challenged, so chargebacks are at all-time lows, but that doesn’t mean there’s no fraud. 

“We are seeing an uptick in impersonation fraud, as syndicates try to deploy the personal data stolen from genuine individuals to create accounts to exploit acquisition bonuses.

“It’s an arms-race against the syndicates, who are well-trained, technically capable, and of course motivated – operators need to deploy new technologies, payments methods, and masses of analytics resources to identify the patterns of abuse and close it down.”

He continued by emphasizing that there are key lessons that can be learnt from the financial sector, specifically in terms of the user experience offered by challenger banks. 

“The fintech sector has also helped make consumers more comfortable with verifying their identity electronically (e.g. biometric video checks on top of document capture and using/sharing data via Open Banking). Operators can benefit from this consumer familiarity and deploy new technologies with a little less worry now.

“For example, 3D Secure is ubiquitous after the PSD2 rollout – gone are the days when ‘walkaways’ and ‘cart abandonment’ were a major worry. Now, we see an uplift in acceptance rates when 3D Secure is enabled.

“This is a tricky one and very quickly lands up in a ‘build vs. buy’ discussion. While Payments are a source of success for a business, it’s not really core to the business model from a technology perspective. 

“This is possibly where my views diverge from a lot of my peers – if we have five developers assigned to a payments workstream to work on improving the user experience, I think it’s money well spent. 

“But if they are instead working on updating SDKs and APIs to the latest iteration from a PSP – with no discernible uplift to the user experience/fraud rate – then it’s best to outsource it and hand the developers over to the Gaming or Sportsbook teams.” 

Rahul Das is one of many key payments and betting stakeholders speaking at the The Payment Expert Summit, part of the upcoming SBC Summit, at the Feira Internacional de Lisboa from September 25-26. 

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In addition to going into deep detail regarding how the company’s USPs deliver much needed distinction within an increasingly saturated space, sights are also cast towards a core ambition of all similar such group’s on the market. That being international expansion.

For Champion, which boasts a presence in 24 countries worldwide, with a focus on Europe, Latin America, and Central Asia, the outlook is a simple one. The globe is awash with opportunity.

“Our existing footprint is strong, but our ambition doesn’t stop here,” he says. “We are committed to not only maintaining but also strengthening our position in these key markets, which will naturally propel further expansion.

“The feedback from our players has been overwhelmingly positive, and this is what fuels our expansion strategy. If our games aren’t available in a particular region, we see it as an opportunity to bring our unique gaming experiences to those players. 

“By strengthening our position in the markets where we already operate, we are creating a robust platform that will support our continued global growth.”

“This inclusivity allows players from diverse linguistic backgrounds to fully engage with our games”

However, to achieve such lofty ambitions is certainly no mean feat. When faced with such intense competition, and therefore a multitude of options when looking at things from a player perspective, the complexities of being truly unique are vast.

Continuing the conversation, Chumel was pressed on just why Champions bills itself as a “provider that delivers best user experience for each player”, and just how the company plans to ensure that it lives up to this mantra.

To not just live up to but surpass this motto, a four fold multifaceted approach was elaborated on in enabling the group to continue a commitment to deliver the best user experience.

“Multilingual support ensures our platform is accessible to a global audience,” Chumel comments. “This inclusivity allows players from diverse linguistic backgrounds to fully engage with our games.

“Multi-currency payments facilitate seamless transactions by supporting payments in multiple currencies, including cryptocurrencies. This flexibility ensures that players can easily deposit and withdraw funds in their preferred currency, enhancing their overall experience.

“Every game starts with a unique concept that is tailored to meet both market trends and player preferences”

“Multi-platform access guarantees that our games are optimised for a variety of devices, including laptops, mobiles, and tablets. This ensures that players can enjoy a consistent, high-quality experience regardless of their device.

“We also prioritise the visual and immersive aspects of our games. Our in-house development team creates rich, engaging graphics and animations, and builds game characters from scratch, making each game a visually stunning experience.”

Subsequently, all roads led to the discussion point of game development; notably the overarching approach taken by Champion in aiming to achieve all of the above.

In elaborating on the perceived crucial steps that must be taken to ultimately deliver success, Chumel outlines a strategic three point plan:

• “Conceptualisation: Every game starts with a unique concept that is tailored to meet both market trends and player preferences.
• “Design and development: Our in-house team meticulously designs and develops each aspect of the game, from characters to mechanics, ensuring a seamless and immersive player experience.
• “Testing and feedback: Rigorous testing phases allow us to fine-tune the game based on player feedback, ensuring it meets our high standards before launch.”

“This diversity ensures that we captivate both nostalgic players and those seeking new, innovative experiences”

As the conversation drew towards a close, talk once again reverted back to the fundamentals of Champion that not only establish the company as a worthy contender, but one that can rise above competitors, surpass client expectations and appeal to players.

This sees Chumel touch on what USPs of the company and its range of titles ensure that they are sufficiently different from the overwhelming wave of games currently on the market and consistently continuing to flood it.

“Champion stands out in a crowded market due to several USPs,” he says. “Original storylines and characters see each game we develop feature its own unique storyline, characters, and avatars, all meticulously crafted by our in-house team. This originality sets our titles apart from the plethora of generic games flooding the market.

“Our diverse gaming catalogue includes a mix of classic and modern games, appealing to a broad spectrum of players. This diversity ensures that we captivate both nostalgic players and those seeking new, innovative experiences.”

To bring things full circle, the issue of geographies once again reared its head as the conclusion loomed over the horizon.

“The ambiance created by our games … is tailored to appeal to different cultural nuances”

In closing out the discussion, Chumel chose to look at just how Champion makes sure that titles appeal to players across geographies, and the difficulties that differences in regulations have on the company.

“Champion’s titles resonate with players globally through various strategies,” he concludes. “A localised content strategy sees some games gain popularity because they incorporate elements familiar to specific countries, whether through game mechanics, cultural references, or thematic elements.

“The ambiance created by our games, including music and overall vibe, is tailored to appeal to different cultural nuances, enhancing their global appeal and fit for every type of player preferences.

“In addition, certain games are designed to resonate with specific seasons or events, further increasing their appeal across different regions.”

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Mina Mitkova, Finance Incorporated Limited’s Chief Operating Officer emphasised that Paymix Pro, which is part of the Finance Incorporated Group, they seek to be a true alternative to traditional banks. 

Key to this is the offering of a range of services, including corporate accounts, IBAN and corporate e-wallets, corporate cards for online and offline payments and acquiring and processing services, as it deepens ambitions to being a true alternative to traditional banks. 

Mitkova also detailed that an additional service PaymixPro provides is crypto incoming solutions, a functionality that has become increasingly pivotal for igaming operators seeking to engage a wider demographic of player. 

Having this connected functionality, Mitkova explains, also provides an ease to its clients as they are not required to go through another account opening procedure with a crypto provider and reduces the processing times greatly. Rather than going through the same account opening and transaction monitoring processes in both institutions, clients can get an all-in service from Paymix Pro.

Mitkova continues: “Clients can simply log in into the Paymix Pro corporate portal and generate a one-time crypto account for each of their transactions  Such, for example, can be shared with the sender who needs to pay Paymix Pro client an invoice amounting to €20,000 and the funds can be sent to that wallet directly. We work with third-party licensed providers who will exchange the crypto into Euros and credit our clients’ account with Euros in a spontaneous manner after the crypto is duly received.”

Providing these alternative solutions requires an intense knowledge of the intricacies of the igaming market. Paymix Pro has dedicated  a decade to the industry, which has long been one of the most active industries within its portfolio. 

Mitkova highlights that the igaming industry has been one of the key focuses of the company, and it will remain so for the foreseeable future.

“We have a keen understanding of the industry and because of this, we can provide better service, faster processing of payments, and create further synergy between the companies.” 

“We have B2B providers, affiliate marketing companies, and B2C operators working with us, and they can also settle internally within the platform by utilising the spontaneous wallet payment feature. Hence, if two companies who both have an account with us transact, it’s an instant settlement.”

Mitkova notes that one of the key challenges for payments in the igaming space in 2024 is the compliance and regulatory requirements across different markets. She outlines that, while the firm will always remain compliant with regulations and laws, it is more often than not a case of “compliance ruling the business rather than the business ruling compliance”. 

“We collect the necessary due diligence and understand the business of the client,” she elaborates. “We usually prefer to meet the client to understand what’s going on because sometimes just ticking boxes or collecting documentation is not the most efficient way to deal with such a complex industry. 

“We prefer to hear the client and understand their business activity. From there, we can make the most accurate assessment of the business of the client, which then helps smoother processing through the partnership.”

It is this rigorous due diligence process that earns Paymix Pro its reputation among igaming clients. The understanding of the industry as well as the sometimes-complex regulations, Mitkova notes, helps it to earn even more trust with clients compared to traditional banks.

“Banks are a bit conservative or have a bit of a pessimistic approach towards the sector, whereas since we understand the industry in detail, we are able to eliminate the challenges and service selected players,” says Mitkova. 

“Our clients, operating in a high-risk industry, usually have more understanding of regulations, and abide by stricter compliance rules. So initially, what we were seeing as a challenge, then becomes an advantage since we are able to select the good clients from the industry.”Paymix Pro will be exhibiting at SBC Summit 2024 in Feira Internacional De Lisboa on September 24-26, located at Stand E230.

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Warhaftig was speaking to Payment Expert ahead of SBC Summit in Lisbon where he will be participating in the Payment Expert Summit. 

When asked about what developments the gambling sector should most look to tap into from the financial sector, Warhaftig outlined the importance of advanced payment options. 

He said: “The most promising financial innovations for the betting experience are instant payments and digital wallets. These technologies offer faster and more secure transactions, which significantly enhances the overall user experience. Digital wallets, such as PayPal or Apple Pay, provide quick and easy deposit options, drastically reducing transaction times.” 

He also underlined that it is crucial for compliance frameworks and KYC strategies to keep pace with technological advancements to avoid security vulnerabilities and regulatory breaches. 

“AI and machine learning, for instance, can strengthen KYC processes by rapidly detecting fraudulent activities and verifying user identities in real time”, added Warhaftig.

“This proactive approach not only helps maintain regulatory compliance but also safeguards companies and their customers from potential threats.”

In terms of the adoption of tech, he added that there are lessons to be learnt from the financial sector, specifically pinpointing the evolution of AI and blockchain. 

“By integrating similar technologies, gaming operators can enhance their security measures and improve customer trust. 

“For example, using AI to monitor transactions in real-time can help detect suspicious activities quickly, thereby preventing fraud and ensuring a safer gaming environment.

“AI and machine learning are critical innovations for gambling compliance. They can detect unusual patterns and behaviours indicative of fraud or money laundering much faster than traditional methods. 

“For instance, these technologies can analyse vast amounts of data in real-time, identifying potential risks before they escalate. Implementing these tools can streamline compliance processes, making them more efficient and effective.”The Payment Expert Summit, part of the upcoming SBC Summit, will be held at the Feira Internacional de Lisboa from September 25-26. Secure your spot with the Early Bird ticket offer, which provides access to all three core days of the event, including the exhibition floor, conference sessions and evening networking parties, all for the discounted price of just €400.

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Speaking to Payment Expert, Christian Reinheimer, Group Director of Payments Product and Technology at LeoVegasGroup underlined that there is more clarity in mature markets as to how they can ensure players benefit from a smooth user experience. 

However, he added that “there is still a lot of room for interpretation, which can be the basis for innovation and provide a competitive advantage. 

“Our job as payment experts is to provide the most convenient yet safe customer experience, and that can be done in many different ways. The methods that appeal to our customers the most will also create the most loyal customers.”

Picking out specific elements of innovation that could be crucial for the igaming payment journey moving forward, he added: “From my perspective, it currently is artificial intelligence. But not generative AI, which is the hot topic right now. AI for pattern detection that supports personalisation plays a far bigger role. 

“This personalisation can take many different forms, from knowing customer preferences without them explicitly telling you (pattern detection), to identifying risk and effectively mitigating it, and improving payment transaction success rates. All of these areas can benefit from AI. 

“The more effectively these areas are handled, the better customer experiences we create and the more scalable products we build. A couple of percentage points of improvement in dropped-off cashier journeys will significantly impact your top line. Anticipating preferences and only burdening risky customers with friction to keep the business and its customers safe can provide these benefits.

“Apart from that, there is (slow) movement in reviewing and improving the actual networks our money is being moved on – the very infrastructure that enables payments in real-time across country borders in a safe way. Lots of opportunities, but also new challenges, come with that.”

Open Banking has also been touted as having a key impact in the space, yet reaching its full potential is not something that has been achieved. 

“For us, it’s an area of strategic importance as it opens up opportunities for innovation and new products in an area that has a substantial share of payment volumes”, stated Reinheimer. 

“Now, after seeing a lot of old and new providers working with the bank APIs, there are some quite sobering results, especially when it comes to data quality via the APIs exposed by the banks. 

“So far, I have not seen any good product that can provide a high-converting KYC solution based solely on Open Banking-sourced data. From what we see, there always needs to be a level of normalisation and data enrichment from other sources besides the Open Banking APIs, or else the products are not good enough. In this regard, it is a bit disappointing to see what came out of the PSD2 initiative, which came with a lot of hope for new solutions in the space.”

In terms of KYC, he also detailed that there are key lessons to be learnt from the financial sector.

“Many challenges faced by the financial sector are quite similar to ours in the areas of AML and KYC. Given those similarities, it is quite interesting that there isn’t more collaboration between the sectors. A casino operator acts like a bank, taking in money and paying it out. 

“We, just like a financial institution, have to monitor that activity to identify potentially risky behaviour, not only in the area of AML but also in RG and, of course, fraud mitigation. The methodology and technology used for that can be very similar. Quite a few providers we talk to in this area are also working with financial institutions to help them be more effective at detecting anomalies.

“Given these challenges, our sectors’ interest in effectively, but with low friction, identifying a customer is also quite similar. Hence, if you sign up for a new bank account with Klarna or Revolut, the procedures there will feel quite familiar compared to what we see with gaming operators in regulated markets.”

The Payment Expert Summit, part of the upcoming SBC Summit, will be held at the Feira Internacional de Lisboa from September 25-26. Secure your spot with the Early Bird ticket offer, which provides access to all three core days of the event, including the exhibition floor, conference sessions, and evening networking parties, all for the discounted price of just €400.

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According to SBC Noticias, Legislator Daniela Reich’s proposal covers “bingo halls and casinos, slot machine rooms, racetracks or any public area in which bets are made for money or any other means of payment”.

Reich stated: “Considering the immediate availability of money as a concrete action that encourages compulsive gambling, we propose that the prohibition be through a law, with concrete and temporary effect, so that the executive branch can comply with its effective implementation within a period of two months.”

The proposal to prohibit ATMs at casinos follows a measure taken by Governor Axel Kicillof in 2022 which enabled electronic payment methods, repealing a 2016 decision of the previous administration which removed them from gaming halls.

However, the 2022 measure was reversed by Resolution 693, which was published in the Official Gazette on April 20 that same year.

Back then, the authorities decided to “suspend the application of the scope of RESO-2022-447-GDEBA-IPLYCMJGM, signed on March 16, 2022, until the authorised Gaming Rooms in the Province of Buenos Aires resolve the operational issues involved in its implementation, based on the factual and of law set forth in the preceding recitals.”

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