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Grace Media Integrates ClearStake’s Seamless Financial Data Request Solution

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ClearStake’s technology set to boost player retention for service provider’s clients

ClearStake, a leading supplier of smart financial data requests, has been selected by service provider Grace Media to strengthen its turnkey iGaming platform through the offering of fast and accurate due diligence checks.

Grace Media, founded in 2020, offers services including CRM, compliance, payments and fraud prevention as well as high-quality gaming content. Its clients include O’Reels, Hot Streak and SlottySlots.

The partnership will empower Grace Media’s clients to make financial data requests quick and easy for players, meaning higher retention levels, with ClearStake’s technology providing a fully configurable, easy-to-integrate solution built on Open Banking.

Operators can make income validation, affordability and AML decisions with confidence almost instantaneously with the data provided tailored to fit companies’ own compliance policies.

This new partnership with ClearStake will enable Grace Media’s clients to benefit from a fast and accurate due diligence process that will help reduce player drop-off and drive sustainable revenues.

ClearStake has been proven to significantly increase player opt-in with the data sharing process taking less than 30 seconds. One operator reported the solution delivered a 160% increase in players completing enhanced due diligence checks compared to traditional documentation requests.

“We’re thrilled to welcome Grace Media as a ClearStake customer as both of our organisations understand just how important it is to solve the challenge of financial data requests to protect revenues and comply with regulatory requirements,” the Chief Executive Officer for ClearStake, Martin Burt, said. “I look forward to building on the successes we have seen with other operators with this new partnership.”

“A central element of Grace Media’s product is our support for ancillary services including compliance,” the Chief Operating Officer for Grace Media, Charlie Noble, said. “With ClearStake, we will be able to make compliance journeys involving financial checks significantly smoother, which will help our own clients retain a higher number of players as a result.”

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DGA: Danes’ Gambling Spend Increased in February 2024

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Denmark’s gambling regulator Spillemyndigheden has reported an increase in gambling spend for February 2024. The total gambling spend on betting, online casino, gaming machines and land-based casino amounted to DKK 587 million in February 2024. This corresponds to an increase of 18.3% compared to February 2023.

The total increase in the gambling spend is due to increases in all four gambling categories. Among other things, the spending on betting increased by 32.5%. The growth in betting may be explained by a lower RTP in February 2024 compared to February 2023.

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Industry News

IDnow Bridges the AI-human Divide with New Expert-led Video Verification Solution

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IDnow, a leading identity verification provider in Europe, has unveiled VideoIdent Flex, a new version of its expert-led video verification service that blends advanced AI technology with human interaction. The human-based video call solution, supported by AI, has been designed and built to boost customer conversion rates, reduce rising fraud attempts, increase inclusivity, and tackle an array of complex online verification scenarios, while offering a high-end service experience to end customers.

The company’s original expert-led product, VideoIdent, has been a cornerstone in identity verification for over a decade, serving the strictest requirements in highly regulated industries across Europe. VideoIdent Flex, re-engineered specifically for the UK market, represents a significant evolution, addressing the growing challenges of identity fraud, compliance related to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) processes and ensuring fair access and inclusivity in today’s digital world outside of fully automated processes.

As remote identity verification becomes more crucial yet more challenging, VideoIdent Flex combines high-quality live video identity verification with hundreds of trained verification experts, thus ensuring that genuine customers gain equal access to digital services while effectively deterring fraudsters and money mules. Unlike fully automated solutions based on document liveness and biometric liveness features, this human-machine collaboration not only boosts onboarding rates and prevents fraud but also strengthens trust and confidence in both end users and organisations. VideoIdent Flex can also serve as a fallback service in case a fully automated solution fails.

Bertrand Bouteloup, Chief Commercial Officer at IDnow, said: “VideoIdent Flex marks a groundbreaking advancement in identity verification, merging AI-based technology with human intuition. In a landscape of evolving fraud tactics and steady UK bank branch closures, our solution draws on our decade’s worth of video verification experience and fraud insights, empowering UK businesses to maintain a competitive edge by offering a white glove service for VIP onboarding. With its unique combination of KYC-compliant identity verification, real-time fraud prevention solutions, and expert support, VideoIdent Flex is a powerful tool for the UK market.”

Whereas previously firms may have found video identification solutions to be excessive for their compliance requirement or out of reach due to costs, VideoIdent Flex opens up this option by customising checks as required by the respective regulatory bodies in financial services, mobility, telecommunications or gaming, to offer a streamlined solution fit for every industry and geography.

Bouteloup added: “Identity verification is incredibly nuanced; it’s as intricate as we are as human beings. This really compounds the importance of adopting a hybrid approach to identity – capitalising on the dual benefits of advanced technology when combined with human knowledge and awareness of social cues. With bank branches in the UK closing down, especially in the countryside, and interactions becoming more and more digital, our solution offers a means to maintain a human relationship between businesses and their end customers, no matter their age, disability or neurodiversity.

“VideoIdent Flex is designed from the ground up for organisations that cannot depend on a one-size-fits-all approach to ensuring their customers are who they say they are. In a world where fraud is consistently increasing, our video capability paired with our experts adds a powerful layer of security, especially for those businesses and customers that require a face-to-face interaction.”

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Australia

VGCCC Fines BlueBet AU$50,000 for Gambling Advertising Breaches

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BlueBet has been fined AU$50,000 by the Victorian Gambling and Casino Control Commission (VGCCC) for breaching gambling advertising regulations.

The company was found guilty of 43 charges related to displaying gambling advertisements on or above public roads, contravening the Gambling Regulation Act 2003.

The charges stemmed from an investigation initiated by VGCCC, following a complaint from a member of the public. The breaches occurred over a two-week period in August and September 2022, with BlueBet’s gambling advertisements appearing on digital billboards at various locations, including Point Cook, Laverton, Rockbank and Ravenhall.

Magistrate Greg Thomas, overseeing the case, expressed scepticism about BlueBet’s defence that it was unaware of the breaches, given the strategic placement of the billboards to target males aged 15-54 years old. While no conviction was recorded, Magistrate Thomas noted the high degree of negligence exhibited by BlueBet.

VGCCC CEO Annette Kimmitt AM said: “Gambling advertising has no place on public roads where it is readily visible to children and other vulnerable groups. These places are especially difficult to avoid as part of day-to-day activities. This decision sends a clear message to wagering providers that flout these protections for our community.”

Although Magistrate Thomas considered imposing a higher fine and recording a conviction, he took into account BlueBet’s guilty plea, cooperation with VGCCC and measures taken to prevent future breaches. BlueBet has implemented changes to prevent similar incidents and has cooperated with VGCCC throughout the process.

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