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IDnow publishes Regulatory Handbook for FinTechs

George Miller

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Demand for AI-based identification grows in 2020
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IDnow has published its first handbook for FinTechs: The “Handbook FinTech Regulations 2020 – How to balance customer experience with increasing AML requirements”. As an expert in regulatory matters and a leading supplier of Identity-Verification-as-a-Service solutions, IDnow works for more than 250 customers, including numerous FinTechs such as N26, Solaris Bank, Fidor, Wefox and Bitpanda.

The regulatory requirements for FinTechs in the field of KYC (Know Your Customer) differ greatly. In addition to geographic differences, there are also numerous industry-specific idiosyncrasies within legal provisions. To give companies in all subsectors and countries an overview, IDnow has published the “Handbook FinTech Regulations 2020.”

“FinTechs find themselves in a unique situation in terms of regulations”, said Alexis Segovia, Head of FinTech Relations at IDnow. “There are different business models across different sectors, but in most cases the same rules apply as for traditional financial institutions. Dedicated legislation for FinTechs does not yet exist. This sometimes makes it complicated.”

IDnow works with customers in all areas of the FinTech industry and is familiar with the complexities these companies face: “The handbook aims to give companies from the entire FinTech ecosystem an overview of which regulations apply to them and which possibilities of a digital KYC solution can be used in their home and target markets. We at IDnow want to support these companies with our wealth of experience, because we know how complex regulatory requirements are in this specific market”, elaborated Alexis Segovia.
Since 2014, IDnow has been operating in the European market and is an expert in KYC solutions. With their Identity-Verification-as-a-Service platform, IDnow offers companies from different industries secure and simple solutions for identity verification.

Download “Handbook FinTech Regulations 2020” here

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Fruit Million a “Shapeshifter” Online Slot by BGaming

Niji Narayan

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Fruit Million a “Shapeshifter” Online Slot by BGaming
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Fruit Million, a traditional-style fruit slot released in the middle of December, has quickly become one of the most successful games in BGaming’s line-up.

It has become one of the top eight slots of a major casino in just 10 days. The slot with 100 paylines and features such as extended wilds and a gamble round surprises casino lovers with its simplicity and generosity. Furthermore, it is designed in a way that keeps players involved and entertained.

Thousands of players all over the world have plunged into the festive Christmas atmosphere of the Fruit Million slot, but it is now time to revert its skin to the standard look. Its attractive design and convenient interface will also excite both newcomers and experienced players.

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Compliance Updates

Stats Perform Receives IBIA Data Standards Accreditation

Niji Narayan

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Stats Perform Receives IBIA Data Standards Accreditation
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Stats Perform has become the first betting data provider to be awarded the International Betting Integrity Association’s (IBIA) independently audited Data Standards Accreditation for the collection and distribution of sports event data for betting.

The award represents the highest mark of betting data quality and integrity available and is assessed by expert independent auditors, eCOGRA.

“I am delighted to announce that Stats Perform is the first company to meet the data standards protocols IBIA published in October 2020. In passing the independent auditing process, Stats Perform has demonstrated secure and robust internal procedures for the collation of sporting event data for betting and may now utilise the Data Standards Kitemark,” Khalid Ali, CEO of IBIA, said.

“Stats Perform met every requirement set out in the data standards protocols. The company was well-prepared for the auditing process, and the evidence that was reviewed was representative of a company culture that is in line with the core principles of IBIA’s data integrity standards and committed to continually improving upon them,” Shaun McCallaghan, CEO of eCOGRA, said.

“This accreditation is thanks to tireless quality and integrity efforts from our sports data operations teams over the past 15 years and, whilst we’re grateful for the recognition, we know our efforts don’t stop here. We continuously search for new threats and assess opportunities to improve our sports data processes, people and technology,” Andrew Ashenden, Chief Betting Officer at Stats Perform, said.

“Stats Perform’s RunningBall and Opta sports data is chosen by the world’s leading rights holders, sportsbooks and pricing providers to power exceptional in-play betting experiences for millions of global sports bettors,” Andrew Ashenden added.

“Our priority at Stats Perform is the integrity of the betting markets and of the competitions upon which they rely. Effective risk management of our data supply chain involves ongoing investment, collaboration and commitment across numerous expert teams who live and breathe the quality of our product. We are very proud to be recognised by the IBIA for our dedication to quality and integrity,” Jake Marsh, Global Head of Integrity at Stats Perform, said.

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INTRALOT pick Algosport to provide innovative Bet Builder products

George Miller

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INTRALOT pick Algosport to provide innovative Bet Builder products
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Innovative UK based sportsbetting technology company Algosport are pleased to announce that they have signed an agreement to provide Bet Builder products to industry giant INTRALOT.

Under the terms of the deal, current and future INTRALOT customers will benefit from market-leading Bet Builder products initially for pre-match football, but with the ability to expand to include In:Play betting options across a wide variety of sports, with Cashout supported as standard. Unlike some other providers, Algosports proprietary technology will be housed within INTRALOT’s current platform infrastructure, increasing accuracy and robustness, plus reducing the latency and other problems seen with some API or feed-based solutions.

Leigh Herdman, CEO at Algosport, said, “This is a really exciting deal for Algosport, and we are really pleased to be working with INTRALOT, who are one of the biggest names in betting and gaming”

Alongside traditional same game multiples for sports such as soccer and basketball, Algosport are also continually enhancing the service and recently added innovative products for handball and snooker betting markets. In addition,
Algosport recently became one of the first providers to offer Bet Builder products for eSports titles such as FIFA 2020. These innovations have proved incredibly popular with operators, as eSports betting replaced some of the revenue lost due to Covid-related reductions in the sporting calendar.

Leigh Herdman, CEO at Algosport, concluded: ‘The signing of this deal, alongside the recently announced supplier agreement with EveryMatrix, makes for a really exciting time at Algosport and we look forward to providing INTRALOT clients around the world with our innovative products. 2020 has obviously been a particularly challenging year for the gambling industry, however we have big plans for Algosport in 2021 that will see the launch of exciting new products and services for our existing customers, as well as bringing aboard numerous new clients”

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