iDenfy, an AI-powered identity verification, compliance and fraud prevention solutions provider, has partnered with Confindo, a leading provider of IT solutions specialising in customer relationship management (CRM) tools for group companies and external partners. This collaboration will help Confindo manage third-party risks and ensure proper fraud and breach prevention while building a seamless and secure verification experience.

The rise in digital transactions has made robust security measures more critical than ever. With security challenges like forged documents and synthetic identities, particularly in the financial and lending sectors, companies increasingly seek advanced solutions to protect their customers. Spending on information security and risk management products and services is expected to grow by 14.3% this year, reaching more than $215 billion. However, many companies operating in the financial sector see fraud as a top priority on the list, where even a single breach can have significant legal and reputational consequences.

Confindo, a dominant player in the consumer lending market since 2018, recognised the importance of securing its platforms against potential threats. Brands under the “Confindo” name, like Lenders, Bancovo, Comparar Prestamos mainly serve as intermediaries for consumer lending services. Consequently, the business is best known for representing over 20 banks and creditors in Lithuania and processing more than 10,000 inquiries monthly. As the business experienced a high volume of requests and new registrations, it required a new trusted Know Your Customer (KYC) vendor to help safeguard its operations, especially in this expansion stage across Europe.

According to Confindo, its recent operations in Latvia and upcoming launches in two new markets also showed a need for extra automation measures in its customer onboarding process. Before partnering with iDenfy, the IT and financial service provider aimed to build a conversion-optimised verification workflow that could remove the hassle around the application onboarding process. Among several identity verification providers, Confindo selected iDenfy for its reliable and efficient identification verification solution. The new software, already trusted by other platforms under Confindo’s management, stood out for its smooth integration with existing systems and provided a comprehensive global document base for more efficient scaling into new markets.

iDenfy’s ID verification solution is designed to automatically recognise, verify and extract information from over 3000 identity documents across 200 countries and territories. This comprehensive approach helps Confindo ensure that all possible safety measures are in place to prevent fraudulent loans, a key concern in the rapidly growing consumer lending sector.

It is worth mentioning that iDenfy is ranked as the top 1 identity verification solution in customer satisfaction on G2, boasting an average of 4.9 stars and over 70 reviews in 2024. This recognition underscores iDenfy’s commitment to providing high-quality, reliable services and prioritizes online user identification security.

“We chose iDenfy because their solution is not only trusted and tested but also perfectly aligns with our commitment to ensuring the highest level of security for our customers,” said Eitautas Bartuškevičius, CEO of Confindo.

Domantas Ciulde, CEO of iDenfy, said: “We’re thrilled to collaborate with Confindo in their mission to enhance security within the consumer lending space. By integrating our ID verification solution, we’re helping them create a safer, more reliable platform for their users across multiple countries.”

The online gambling industry has seen significant growth across Europe, and Latvia is no exception. In recent years, online casinos have become increasingly popular in the country, driven by various factors, including technological advancements, evolving consumer behavior, and a regulatory environment that promotes safe gambling.

This article explores the current state of online casinos in Latvia and uses plainenglish.io as a source. The text discusses about the trends shaping the industry, the regulatory landscape, and the future outlook for this rapidly expanding market.

The Rise of Online Casinos in Latvia

Latvia, a digitally connected nation in the Baltic region, has witnessed a remarkable rise in online gambling. The widespread availability of high-speed internet, which reaches over 90% of the population, has been a crucial enabler of this growth. As internet access has become nearly universal, more Latvians are turning to online platforms for their entertainment needs, including gambling.

Technological advancements have further fueled this trend. The proliferation of smartphones and mobile technology has transformed how people engage with online casinos. Today, many Latvians prefer to play casino games on their mobile devices, enjoying the convenience of gambling anytime, anywhere. This shift towards mobile gaming has been particularly pronounced among younger generations, who are more inclined towards digital forms of entertainment.

Navigating Latvia’s Regulatory Landscape

The success of online casinos in Latvia is closely linked to the country’s robust regulatory framework. The Latvian government, through the Lotteries and Gambling Supervisory Inspection (IAUI), oversees and regulates the gambling industry, ensuring a safe and secure environment for players.

Online casinos operating in Latvia are required to obtain a license from the IAUI. This licensing process is rigorous, and designed to ensure that only operators who meet high standards of fairness, security, and responsible gambling can legally operate. This regulated environment has not only protected players but also contributed to the legitimacy and growth of the industry.

Taxation plays a significant role in the regulation of online casinos. Both operators and players are subject to taxes, with licensed operators paying taxes on their gross gaming revenue (GGR) and players being taxed on their winnings. The income generated from these taxes supports various public services and social programs, highlighting the broader societal impact of the online gambling industry.

Moreover, the Latvian government places a strong emphasis on responsible gambling. Licensed operators must implement measures to prevent problem gambling, such as self-exclusion programs and deposit limits. These measures aim to protect players from the potential harms associated with gambling, reflecting the government’s commitment to fostering a healthy gambling environment.

To maintain market integrity, the IAUI actively monitors and blacklists unlicensed online casino operators. These blacklisted sites are blocked from operating in Latvia, ensuring that players are not exposed to unregulated and potentially fraudulent platforms. This vigilant approach helps maintain a level playing field for licensed operators while safeguarding consumers.

Current Trends in the Latvian Online Casino Market

The online casino market in Latvia is dynamic, reflecting both local preferences and global developments. One of the most notable trends is the increasing popularity of live dealer games. These games, which feature real dealers conducting games in real time, have captured the interest of Latvian players who appreciate the social interaction and authenticity they offer. Live dealer games bridge the gap between online and physical casinos, providing a more immersive experience that resonates with many players.

Cryptocurrency gambling is another emerging trend in Latvia. As digital currencies become more widely accepted, some online casinos have started to accept cryptocurrencies as a payment method. This development is particularly appealing to tech-savvy players who value the privacy and security that cryptocurrencies offer.

Localization is also becoming a key strategy for online casinos in Latvia. Many platforms are offering content tailored specifically to the Latvian market, including games in the Latvian language and customer support services that cater to local players. This focus on localization enhances the user experience and helps operators build a loyal customer base in the region.

Furthermore, the rise of eSports has opened up new avenues for online casinos in Latvia. Many platforms now offer eSports betting, allowing players to wager on popular video game tournaments. This trend is particularly popular among younger players, who are avid eSports fans.

The Future of Online Casinos in Latvia

Looking ahead, the future of online casinos in Latvia appears promising. Innovation in game development is expected to continue, with new technologies such as virtual reality (VR) and augmented reality (AR) poised to transform the online casino experience. These technologies have the potential to create more immersive and engaging games, attracting a broader audience to online gambling.

As mobile gambling continues to rise, online casinos are likely to further optimize their platforms for mobile devices. This will include the development of dedicated mobile apps and improvements in user interfaces, ensuring a seamless and enjoyable gaming experience for mobile users.

On the regulatory front, the Latvian government may introduce stricter regulations as the online gambling market matures. These regulations could include more rigorous licensing requirements and enhanced responsible gambling measures, aimed at further protecting players and ensuring fair play.

The success of the Latvian online casino market has also attracted the attention of international operators. As more global brands enter the market, competition will increase, leading to better promotions, more diverse game offerings, and improved services for Latvian players.

Conclusion

Online casinos have established themselves as a popular and growing form of entertainment in Latvia. The combination of a tech-savvy population, a strong regulatory framework, and emerging industry trends has created a thriving online gambling market. As the industry continues to evolve, players in Latvia can look forward to an exciting and secure online gaming experience. However, it will be crucial for operators, regulators, and players alike to navigate the challenges and opportunities that lie ahead to ensure the sustained growth and success of the online casino industry in Latvia.

HIPTHER, the organizer of renowned conferences in the Gaming and Technology industries and the parent brand of GameTech media, is thrilled to announce the dates for the 2025 MARE BALTICUM Gaming & TECH Summit. Mark your calendars for May 27-28, 2025, as the event will take center stage at the prestigious Radisson Blu Hotel Lietuva in Vilnius!

In this edition of the MARE BALTICUM Gaming & TECH Summit, the “Symphony of Innovation” will echo through the Baltic and Nordic regions. This summit continues its legacy as the region’s premier boutique-style gathering for leaders in technology, gaming, and beyond.

Since its inception in 2018, the MARE BALTICUM Summit has been at the forefront of industry transformation, offering a unique platform for C-level executives, compliance specialists, and government leaders to converge, share insights, and foster strategic partnerships. This year’s theme, “The Symphony of Innovation,” perfectly captures the essence of the event—a harmonious blend of tradition and cutting-edge advancements across diverse sectors.

Attendees can look forward to an immersive experience, exploring the seamless integration of industries such as iGaming, Fintech, Blockchain, Artificial Intelligence, Virtual and Augmented Reality, FashionTech, Mobility, Climate Change, and EdTech. The summit promises to be a fertile ground for idea exchange, collaborative ventures, and a deep dive into the trends that are shaping the future of these industries.

Key Highlights of the Summit:

• Unparalleled Networking Opportunities: Connect with top decision-makers and influencers from across the globe in an intimate, boutique-style setting.
• Insightful Keynotes and Panels: Learn from industry experts leading insightful discussions on the latest innovations, challenges, and opportunities in the gaming and tech landscapes.
• A Harmonious Fusion of Industries: Discover how diverse fields are coming together to drive forward-thinking solutions and create new avenues for growth!

Zoltan Tuendik, Head of Business and Co-Founder at HIPTHER, stated about the 2025 edition of MARE BALTICUM: “Going back to Vilnius for the third time feels like returning to a place where innovation meets tradition, where every street echoes with memories of past conversations that shaped new ideas. There’s something special about this city – its warmth, its spirit, its ability to host brilliant minds from across the globe. I’m excited to once again walk these streets, knowing that this time, the ‘Symphony of Innovation’ will play louder and more harmoniously than ever. Each time we return, we don’t just revisit Vilnius – we build upon its legacy, creating new stories and connections that push our industry forward.”

Join Us in Vilnius: Each year, the MARE BALTICUM Summit celebrates and honors a Baltic capital, and in 2025, we invite you to experience this transformative event in beautiful Lithuania as spring breathes new life into the city. The MARE BALTICUM Gaming & TECH Summit is more than just a conference – it’s a vital forum for shaping the future of technology and innovation.

Register today – Super Early Bird Tickets Available: secure your spot at the 2025 MARE BALTICUM Summit and be part of the symphony of groundbreaking ideas that will resonate throughout the industry.

For more information and to register, visit hipther.com/events/vilnius.