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Playing by the Rules

How can companies maintain compliance without damaging the gaming experience for their users?

The global online gambling market is experiencing unprecedented growth, anticipated to double in size from 2016 to more than 94 billion U.S. dollars in 2024. Such rapid evolution of the sector provides an ideal environment for criminal operations and money-laundering. Henceforth leading to a global shift to tighter regulations. With the ever-evolving local and international regulatory landscape, companies are continuously adapting their procedures relating to Anti-Money Laundering, the Combating for Financing of Terrorism (AML/CFT) and Know Your Customer (KYC) measures to cope with regulatory compliance requirements. So much so that the regulatory and compliance spend is projected to be over €100B annually across service providing sector. First and foremost, this is due to the rising fines for lack of compliance. Furthermore, companies are incurring additional costs to develop internal capacity that can manage compliance-related tasks.

The question is, how can companies maintain compliance without damaging the gaming experience for their users?

The real challenge is presented in the form of improving compliance during customer onboarding and monitoring on an ongoing basis. Companies in the online gambling and gaming industries are legally obligated as per the most recent regulatory updates, to verify user identity, age, location, and source of funds among other categories in order to protect their users and platform from bad actors and fraud. Effective KYC procedures are integrated into the initial customer registration process and function on an ongoing basis.


As a user’s risk profile can change over time carrying out KYC checks on re-activated players is also good practice. KYC is an essential element in the daily operations of gaming operators and is monitored by industry regulators. When companies have a robust KYC system in place it ensures they have a clean database of users and safeguards their license. It provides peace of mind by preventing customer fraud which can have a devastating effect on the liability of a company. However, with the toughening of regulations, customer onboarding time are becoming lengthier and more tiresome. In the age of on-demand services and the impending extinction of face-to-face interactions, customers expect faster transaction times and the ability to interact with service providers on a remote basis.

While human intelligence and intuition will always be at the center of a robust compliance program, it is inevitable that Artificial Intelligence will become the default way to solve highly repetitive and data-centric tasks, thereby enabling compliance professionals to focus on making final decisions.

Daniel Grech, a co-founder of Wyzer (a Malta-based fintech company founded in 2017, specialising in Artificial Intelligence and Blockchain technology) believes that in the long run, as Blockchain technology continues to be adopted, new networks of trust between regulators and regulated entities will emerge. The adoption of such technologies will result in a compliance landscape that is human-centric but technology-driven: a landscape where information is processed intelligently, shared securely and used effectively.

It is becoming increasingly evident that the best approach for companies to tackle the inefficiency and high costs is to invest in regulatory compliance technologies that automate and manage processes from front to back office. When asked to comment on how technology is paramount to launching a new era of regulatory compliance, Mr Grech stated the following: “Many see compliance as an unnecessary additional cost. What they fail to realise is that noncompliance costs nearly three times as much as compliance does. In order to survive, institutions must develop strategies that keep down costs but still allow them to maintain robust compliance programs. This can only be achieved through the use of new technologies that have the potential to substantially augment the ability of compliance professionals. The harnessing of such technologies will be crucial in solving many of the current challenges, reducing costs and better managing risk.”

Compliance with Compli+ from Wyzer

So how do companies digitise client management processes without compromising on compliance, risk and customer experience? The solution lies in automated onboarding and compliance software-as-a-service (SaaS) products. Wyzer has launched a SaaS product, called Compli+, that aims to bridge the gap between the expectations of regulators and the implementation of regulations by subject persons.


Compli+ is a Software as a Service (SaaS) solution that allows you to digitise and automate interactions with your customers and regulators. Through the integration of a number of sophisticated capabilities, the product enables for automated customer onboarding and ongoing monitoring while integrating a broad range of regulatory obligations.

● Comply with FIAU guidelines - Advanced customer screening features including; public sanction and PEP lists checks.
● Improve time to revenue - Automated customer identification and validation process by utilising elements of AI technologies.
● Onboard clients in matter of minutes - Fully-digital Customer Onboarding using customisable onboarding processes.
● Extract reports - A sophisticated reporting engine by which regulatory and operational reports may be exported.
● Optimise client management processes - Ongoing monitoring of Know Your Customer data as well as integrated risk scoring mechanisms.
● Reduce risk of illegal or non-compliant activities - Features to support Customer Due Diligence and Enhanced Due Diligence procedures.

How can Compli+ increase the efficiency of online gaming customer onboarding.

First and foremost, the system aims to prevent identity fraud. In non face-to-face customer interactions, there is a high threat of identity theft. iGaming companies could benefit from introducing identity verification solutions to ensure that the users in their systems are legitimate and protect the personally identifiable information (PII) of their users. There is an increase in scamming occurring in many online gaming platforms, where cybercriminals gain access to user accounts and steal their identity information. For many users, this can be detrimental. The cloud-based system protects user identity information and decreases identity theft and fraud.

At Wyzer, we are convinced that gaming services can be delivered in a safe and sustainable way. The tool can assist gaming operators with tracking player data, detecting risk patterns, changes in behaviour and to flagging signs of problem gambling.

Furthermore, Compli+ can allow operators of online gaming systems to gain critical information about user identities by utilizing the integrated identity verification solutions. Age verification is a key component of our identity verification. Where In online gambling scenarios, it is illegal for minors to play. Online casinos are responsible to uphold these laws and make sure they are enforced, in order to avoid heavy fines for noncompliance with underage gambling laws.

You can find Wyzer at the Sigma Summit 2019, Malta, where we'll be exhibiting at stand 23. You can also get in touch with us (hello@wyzer.ai) for more information on how Compli+ can streamline compliance for your business.

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