Baltics
OlyBet bolsters IBIA’s leading global betting integrity network
Olympic Entertainment Group’s (OEG) sports betting brand OlyBet has joined the International Betting Integrity Association (IBIA). OlyBet is the leading online gaming and sports betting brand in the Baltic region, and through its continued growth and expansion, it has become a comprehensive sport, gaming and entertainment platform throughout Europe. The operator recently secured a partnership with the DP World Tour and Euroleague Basketball and is also the official sports betting partner for the National Basketball Association (NBA) and National Hockey League (NHL). Olybet joins nearly 50 companies and over 120 leading sports betting brands in IBIA, further strengthening the association’s position the world’s leading operator-run integrity monitoring body.
Corey Plummer, the Chairman and CEO of Olympic Entertainment Group and OlyBet Group said this about the step :“Protecting the integrity of sports and defending sports betting against corruption and criminal activities are two sides of the same coin. Together with other responsible and regulated betting operators and through a trusted and professional party such as IBIA we can take further steps to protect sports and sports betting.”
Khalid Ali, CEO of IBIA, said: “IBIA is delighted to welcome the OlyBet brand into our association. The operator brings a wealth of knowledge and experience of the sports betting market, notably in the Baltic region where it is a leading player. We intend to work closely with Olybet to harness that important regional knowledge base to protect our global network from corrupt betting practices linked to match-fixing. Olybet’s decision to join IBIA demonstrates its commitment to maintaining the integrity of sport and the operator’s desire to utilise the best integrity protection available globally for its sports betting product.”
The International Betting Integrity Association is the leading global voice on integrity for the licensed betting industry. It is run by operators for operators, protecting its members from corruption through collective action. Its monitoring and alert network is a highly effective anti-corruption tool that detects and reports suspicious activity on its members’ betting markets. The association has longstanding information-sharing partnerships with leading sports and gambling regulators to utilise its data and prosecute corruption. It represents the sector at high-level betting integrity policy discussion forums managed by the IOC, United Nations, Council of Europe and European Commission.
IBIA recently announced its Q1 alert figures, which included 40 incidents of suspicious betting, covering nine sports across 22 countries and five continents identified by IBIA’s global monitoring network. That network utilizes detailed customer-account data that is only available to IBIA and its members and covers nearly 50% of all regulated commercial online betting activity. By harnessing our members’ collective resources, IBIA is able deploy a protective shield around its operator members, resulting in fewer attempts to corrupt our members’ markets compared to non-members.
Baltics
Lithuania to Ban Gambling Ads
The Lithuanian parliament on Tuesday approved restrictions on gambling advertising, set to take effect from next July.
The amendments to the Gaming Law, passed with 73 votes in favour and one abstention, will introduce a ban on gambling advertising starting in July 2025. Exceptions will apply to sports competitions and events, as well as sports sponsorships and broadcasts of sports competitions, which will have a transitional period until January 1, 2028.
Next year’s budget for the Media Support Fund earmarks an additional 4 million euros to compensate media organisations for lost advertising revenue.
Among other things, MPs backed a proposal from the parliamentary Committee on Budget and Finance to have a transitional period until the end of 2027, allowing up to three betting ad spots of under 15 seconds each per hour on television, radio and online between 06:00 and 18:00 and up to two per hour between 18:00 and midnight.
For online media, betting ads without a direct link to the gaming operator’s website will be limited to 20% of advertising space from 06:00 to 18:00 and 10% until midnight.
Baltics
Genome launches SEPA instant payments, adding another valuable feature for iGaming companies
Genome (UAB Maneuver LT) has introduced SEPA Instant Transfers for all its clients. Companies can now make instant euro payments within seconds to optimize cash flow and improve operational efficiency across the Eurozone.
Additionally, SEPA Instant Transfers can be used for batch Transfers, making mass payments even more effective for companies, particularly the iGaming businesses.
“SEPA Instant Transfers enable quick payments in the Eurozone, improving cash flow and scheduling flexibility for business partners – a very crucial feature for modern-day companies that conduct operations online,” explained Genome’s CEO, Daumantas Barauskas.
SEPA Instant Transfers will be priced the same as regular SEPA Credit Transfers, ensuring users enjoy the convenience of instant transactions without any additional costs.
The feature has gone live shortly before the SiGMA Europe conference that Genome’s team will be attending. Businesses can learn more about SEPA Instant Transfers and other iGaming services Genome provides at booth #3102 or by booking a meeting.
“SEPA Instant Transfers is not the only service Genome offers iGaming companies. For one, they can streamline their financial operations with our API for mass payouts and B2C2B payments. We are currently developing the incoming payment notifications service via API (API for pay-ins). This feature will notify iGaming companies about client pay-ins in real-time. We also provide contactless physical and virtual Visa Business cards for media buying and other corporate expenses, with the added convenience of Google Pay, Apple Pay, and Garmin Pay compatibility. Additionally, a dedicated IBAN account simplifies B2B transactions, and the Genome iOS and Android apps ensure real-time financial management anytime, anywhere,” concluded Daumantas Barauskas.
Baltics
iDenfy Partners with Confindo to Enhance Security and Prevent Loan Fraud
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.”
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