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TrueLayer launches Payouts, a new way for operators to issue instant refunds and withdrawals

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TrueLayer partners with leading bookmaker William Hill for instant pay-ins and payouts
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TrueLayer, Europe’s leading open banking platform, today announced the launch of Payouts, a new solution to tackle the issues of slow withdrawals and refunds. Payouts is already being used by TrueLayer clients, including the UK’s leading online car retailer, Cazoo, to instantly pay customers when they sell their car via the platform.

Today, customers expect payments that arrive in their account in seconds. The five days it can take for card or Bacs payments to appear frustrates customers and leads to a lack of loyalty. This is made worse when operators, as part of their due diligence, need to verify new user’s payment details and identity before issuing a payout, stopping customers mid-flow and making the process even slower.

Traditional payout methods require managing multiple reports, endless rows of data, and manually tracking each payment, creating inefficiencies, input errors and complaints from customers whose payouts were never issued.

TrueLayer has tackled the issue of fragmented and slow payout processes by combining open banking verification and the fastest payment rails available to ensure players are paid to the right account, right away. The open banking-powered verification process works by matching the name provided by the customer with what’s on file at their bank to confirm the details are correct. Results are returned in seconds. Gone are the days of asking customers to upload bank statements for compliance teams to review, or using micro-deposits that can be cumbersome for users to confirm.

With the player’s details pre-populated and verified, payouts are then automatically issued through TrueLayer’s robust infrastructure, connected to thousands of banks in the UK and across the EU through a simple API integration.

“Businesses today are laser-focused on customer experience, and the post-purchase experience involving customers requesting refunds or users withdrawing their funds, is critical to build loyalty. We built Payouts to take the pain out of these transactions and enable operators to create a compelling value proposition for their entire customer base – withdraw your funds or receive refunds instantly,” commented Murtaza Bootwala, Head of Payments at TrueLayer. “It is designed with iGaming in mind, where customers are growing increasingly frustrated by the poor experiences they have to endure as a result of outdated infrastructure. In 2021 it shouldn’t take days, sometimes over a week, to receive a payment.”

TrueLayer is the only provider that can deliver account verification, powered by open banking, with Payouts to deliver payments for operators that:

  • Increase retention and encourage service-switching: granting instant access to funds that settle in seconds, 24/7, without having to go through lengthy verification processes, players get what they want – their money instantly – compared to five days that cards or Bacs can take.

  • Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.

  • Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.

  • Streamline due diligence: using open banking verification, TrueLayer crosschecks the name provided by the end-user during registration with what’s on file at their bank to confirm that the details entered are correct. This helps businesses to minimise money laundering risk.

  • Improve the customer experience: no don’t need to remember account details, or manually fill any forms. With a simple redirect to their bank they can authenticate their account details using fingerprint or Face ID.

“TrueLayer is leading the charge to ensure payments processes that truly work for the customer and the business, ditching outdated methods to deliver the best possible payments experience,” added Bootwala. “By verifying the account details before paying out, you can say goodbye to the days of failed or lost payments, and reduce the strain on customer support. And by offering instant payouts, iGaming operators can build players’ trust and encourage others to switch over to your service.”

The launch of Payouts continues the expansion of TrueLayer’s solutions built on top of its market-leading open banking network in 2021, following the launch of PayDirect in January.

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NetBet Partners with Greentube

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NetBet Partners with Greentube
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NetBet COM is thrilled to announce a dynamic new partnership with Greentube as a new game provider! This exciting news means that all the top games from Greentube will be available to play for our gamers through the NetBet website.

Greentube, the NOVOMATIC Digital Gaming and Entertainment Division, is an industry-leading integrated iGaming supplier and operator. The company’s omni-channel technology allows the convergence of online, mobile and land-based games.

Greentube delivers tailor-made, quality gaming content and solutions. The product portfolio includes classic slots, social casino gaming, server-based gaming and more.

NetBet prides itself on high quality partners and working with industry leaders. That’s why everyone from the NetBet team is ecstatic to have Greentube on board. With yet another top provider available, NetBet boasts some of the very best in online entertainment.

NetBet’s PR Manager Claudia Georgevici said: “We welcome Greentube and their team to the NetBet family. They are a provider we have been excited about adding for some time and it’s great to finally have them involved with NetBet. We look forward to continued collaboration moving forward and can’t wait for our players to immerse themselves in some of their thrilling games!”

Amongst the array of top games and cutting edge titles, players can now enjoy:
Piggy Prizes™ Wand of Riches™, Sizzling Hot™ deluxe and Book of Ra™ deluxe 10. These games provide an experience like no other with revolutionary graphics, soundtracks, and features to keep players enthralled for spin after spin.

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Jovana Popovic Canaki signs up as iGP Deputy CEO in latest stage of expansion

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Jovana Popovic Canaki signs up as iGP Deputy CEO in latest stage of expansion
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Mrs. Popovic Canaki is a highly experienced iGaming industry professional and will play a key role in supporting expansion into new markets and delivery to iGP’s existing customers

iGP, a creator and provider of iGaming solutions, is delighted to welcome Jovana Popovic Canaki as Deputy CEO, who joins to support the company’s ongoing expansion drive.

Jovana, who will report to iGP CEO Giovanni Paticchio, is a respected iGaming professional, boasting a proven track record in leadership positions within the industry.

With 17 years of diverse leadership experience in both B2B and B2C sectors, Jovana brings a wealth of knowledge and expertise to her role. Most recently, she served as VP Partner Success at Aspire Global, part of NeoGames. This followed a spell as Managing Director and CEO of Masterpiece Gaming. Jovana also spent eight years at Bragg Gaming, where she rose to the position of Director of Business Unit iGaming Platform and Services.

This is the latest step in iGP’s senior management restructure as it continues to grow into new iGaming verticals and geographies, beyond its core platform solution. iGP will call upon Jovana and the incumbent team as they ensure high-quality and efficient delivery of services for all customers, including both existing partners and new ones. This will also assist with the development and release of new iGP products, such as the company’s Crypto Casino solution.

Jovana Popovic Canaki said: “I am thrilled to join iGP as the new Deputy CEO. I eagerly anticipate working with our talented team to drive innovation and unlock the full potential of our products, while exploring opportunities to enter new markets for our fantastic clients.

“I have always been determined to contribute towards growth in all my previous roles in the iGaming industry, and it excites me when a company begins to make headway in the market as iGP are currently doing. I am proud to be a part of iGP’s journey and look forward to getting started.”

Giovanni Paticchio, iGP CEO, said: “We are absolutely delighted to welcome Jovana to the team here at iGP. With her magnificent depth of experience in the iGaming industry, her expertise will be incredibly valued by us and this is a very important addition to assist with the next stage of our expansion.

“We have welcomed a number of first-class executives to our senior management team this year, and with Jovana on board, this gives us additional depth and capacity to drive the business forward faster and further. It’s an exciting time to be leading this business.”

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REEVO Announces New Partnership with 7Mojos

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REEVO, a leading B2B content and aggregation platform dedicated to transforming the iGaming industry, announced a new partnership with 7Mojos, an innovative gaming company based in Varna and Sofia, Bulgaria.

This strategic alliance aims to deliver an enhanced gaming experience by combining REEVO’s diverse portfolio of high-quality casino games and cutting-edge aggregation solutions with 7Mojos’ next-generation entertainment offerings. Known for their comprehensive portfolio of live casino and slot games, 7Mojos has built a reputation as one of the iGaming industry’s most promising emerging content providers.

Stefan Enchev, Chief Commercial Officer of 7Mojos, said: “We are strengthening our network of partners and demonstrating the dedication to provide a wide range of products to players by joining forces with REEVO. We are excited for the opportunity with REEVO and anticipate a fruitful relationship that will benefit both businesses.”

Daniel Cuc, Head of Account Management at REEVO, added: “We’re thrilled to partner with 7Mojos, known for their innovative gaming content. This collaboration enhances our portfolio and enables us to offer unparalleled entertainment to our clients and players worldwide.”

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