Latest News
EGT Digital Enters into Strategic Partnership with IRIS Solutions
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EGT Digital has entered into a strategic partnership with IRIS Solutions, an innovative company that provides business solutions for open banking. Thanks to the services provided by IRIS Solutions, EGT Digital will be able to offer to part of its clients one more way for more personalised and secure payments, as well as will minimise the time for depositing funds.
IRIS Solutions is the trusting supplier of open banking solutions in Southeast Europe. The company is licensed by the Bulgarian National Bank as a European Payment Service Provider (PSP), in accordance with the Second EU Payment Services Directive (PSD2), and has more than 60 integrated banks and payment institutions in its portfolio. IRIS Solutions offers a variety of products – from Account aggregation, Data analysis and processing, to Payment initiation, API Monitoring and Account Information services.
Open banking is a process in which banks provide secure and reliable access to financial information from their databases to third-party financial service providers (Third Party Providers or TPP). This is done only with the user’s consent through standardised and secure APIs. This new opportunity allows licensed fintech companies to offer products related to Payment initiation and Account information services. For the end user, this means new financial solutions and products that reduce costs and save time for carrying out financial transactions.
EGT Digital utilises the “Payment initiation” service. This new capability in the Payment Gateway is now offered as an option with one of the operators in the Bulgarian market. The “Payment initiation” service allows a payment to be made from a bank account by redirecting the user to the website or application of a chosen bank, enabling making a deposit seamlessly within a few clicks. The functionality can easily be integrated with various systems, allowing end users to perform “Account-to-Account” (A2A) payments. Each payment initiated in this way requires identity verification and guarantees the highest level of security for both the client and the institution. To use the service, the end user does not need to install a mobile or desktop application.
The integration of this modern solution is another step that demonstrates the company’s commitment to offering the best service. It enables:
- Improved players protection – by providing real-time access, operators can implement responsible measures such as limits and self-exclusion tools based on the financial profiles of the players.
- Compliance with regulatory requirements, such as Anti-Money Laundering (AML) provisions and “Know Your Customer” (KYC) standards, by providing access to verified financial data and ensuring transparency of financial transactions.
- Access to financial data for personalising offers, adapting marketing strategies, and efforts to engage and retain players.
- Rapid receipt of funds. When depositing funds through CCB (Central Cooperative Bank) and Revolut, users receive the deposited amount via instant payment within 10 seconds.
Georgi Mihaylov, DCEO of EGT Digital, said: “As a technology company, it is important for us to be focused оn delivering the highest possible quality to our current and future partners. The iGaming industry is extremely competitive and constantly evolving. This challenges us to meet the ever-changing needs of the business. Enriching our portfolio with innovative solutions, we strive to be on top of the tendencies, thus providing our clients with a wide selection of secure and fast transactions. So far, we are very pleased with the IRIS Solutions product and are excited to work together.”
Open banking is creating a new field for innovation in the financial sector worldwide and in Europe. Countries such as Australia, Canada, UK, Brazil, Japan, Singapore, the territory of Hong Kong, and others are providing various initiatives and regulatory frameworks to meet today’s business needs. In 2023, the value of open banking transactions globally reached $57 billion and is expected to grow to $580 billion by 2027.
Against this backdrop, Europe has developed and adopted a regulatory framework (PSD2) which is in the process of being upgraded (PSD3). Its aim is to impose security standards and increase competition in the banking market, supporting innovation and development in the sector. In Bulgaria, open banking is offered by the BNB-licensed IRIS Solutions and several other companies, which rank our country alongside countries such as Croatia, Austria, Greece and Luxembourg in terms of the number of regulated providers.
Selda Ali, Technical Leader and Development for IRIS Solutions, said: “The partnership with EGT Digital shows that Bulgaria can be among the leaders in applying financial technologies for the gaming industry. This is also further proof of the endless applications of open banking and the fact that a directive from Europe can become one of the most successful Union policies for increasing competition in the financial sector. We are pleased to be part of this journey, and I am confident that with EGT Digital, we will reach new horizons, placing the customer at the center with their desires and needs.”
Latest News
Expanse Studios Announces Strategic Partnership with Leading Operator 1XBet
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Expanse Studios, a leader in online gaming and a subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), is excited to announce a strategic partnership with 1XBet, a major player in the global betting and iGaming market. This collaboration marks another key milestone as it broadens its global reach and enhances its game offerings.
A Landmark Integration of Global Relevance
This partnership introduces Expanse Studios’ extensive game portfolio to a broader audience worldwide as going forward, 1XBet’s vast user base will now have access to Expanse Studios’ leading games, including popular slots, crash games, and unique gamified options.
This collaboration not only diversifies the gaming options on 1XBet but also strengthens Expanse Studios’ position as a pioneer in the gaming industry, allowing it to tap into a platform that serves millions globally, significantly boosting the visibility and reach of its games.
Damjan Stamenkovic, CEO of Expanse Studios, expressed his enthusiasm for the partnership: “Working with 1XBet is a pivotal development for us. It represents not just the culmination of months of dedicated effort but also a significant step forward in our mission to provide unparalleled gaming experiences. We are proud to align with such a reputed partner and excited about the future possibilities.”
eSports
Tundra Esports Announces New Official Partnership With Ethlas
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Tundra Esports, The International 11 Champions and a leading name in Dota 2, announces its partnership with Ethlas, a trailblazer in the Web3 gaming industry.
Starting September 1st, both will collaborate during the Dota 2 International to kick-off the exciting partnership, showing the exciting capabilities of Gambit, a new gamer trading platform developed by Ethlas.
Gambit introduces a unique economic model that unites players with their Patrons (Bit holders). Players are rewarded proportionally based on their in-game performance, ensuring top skills translate to real-world value. Throughout TI 2024, they are putting up a US $100,000 prize pot for traders around the world.
“We are thrilled to partner with Tundra Esports, one of the most formidable teams in the esports arena, especially as they compete in The International this year. This collaboration aligns perfectly with Gambit Finance’s mission to revolutionise how fans and traders engage with their favourite gamers, allowing them to support and participate in the growth of esports talent. Together with Tundra, we’re pushing the boundaries of innovation in both gaming and finance”, stated Elston Sam, co-founder of Gambit Finance.
The collaboration between Tundra Esports and Ethlas is founded on shared values and a mutual dedication to excellence in esports, uniting Dota 2 enthusiasts worldwide to tap into their deepest strategic insights and expertise in the game.
Maxim Demin, Owner & Co-Managing Director of Tundra Esports: “We are excited to embark on this journey with Ethlas. At Tundra we are constantly looking for new ways to engage with our audience in an authentic and meaningful way, and we hope that this partnership will unlock new opportunities for every Tundra fan around the globe. Please welcome Ethlas as our new Official Partner!”
Tundra’s Dota 2 team are the reigning world champions, winning The International in 2022, beating the opposing team in a clean 3-0 sweep. The roster have qualified for their placement in The International on Jun 23, 2024, with an exciting 2-1 win against PSG.Quest.
Latest News
GGPoker Welcomes Lebanon’s PokerArabia To World’s Biggest Poker Room
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GGPoker, the World’s Biggest Poker Room, is thrilled to announce that players from PokerArabia, the Middle East’s only government-licensed online poker room, are set to join the vibrant GGPoker community. This exciting development marks a significant milestone in GGPoker’s ongoing commitment to open access to global liquidity to online poker markets worldwide.
PokerArabia, based in Lebanon and managed by Casino Du Liban, will migrate its player base to the award-winning GGPoker platform over the weekend of September 1, 2024. This integration ensures that PokerArabia players will now enjoy the benefits of belonging to the largest and most dynamic poker community, including access to the richest and most prestigious online poker tournaments and in time to compete for some of the 33 bracelets on offer at GGPoker’s WSOP Online 2024.
Sarne Lightman, Managing Director of GGPoker, expressed his enthusiasm about the partnership, stating: “We are incredibly excited to welcome PokerArabia players to the GGPoker family. This partnership with Casino Du Liban underscores our commitment to bringing global liquidity and the best online poker experience to players worldwide. Lebanese players can now look forward to joining the world’s biggest poker community and competing in the best games and biggest tournaments available anywhere.”
Jad Gharios, Chairman and CEO of Onlive Support Services (the operator of BetArabia and PokerArabia by Casino du Liban license) added, “We are constantly looking to provide our clients with the best services and products in the market, and our partnership with GGPoker complements this direction. We look forward to the online launch, offering WSOP Online to the region, and hosting a live WSOP event at the historically-acclaimed Casino du Liban in the near future.”
Casino Du Liban, a renowned live gaming venue that first received its license from the Lebanese government in 1957, launched its online gaming platform, BetArabia, in November 2022. This transition to GGPoker represents a new chapter for PokerArabia players, providing them with enhanced gaming opportunities and a superior online poker environment.
The migration of PokerArabia to the GGPoker platform is set for the weekend of September 1, after which all eligible Lebanese players will be able to enjoy the numerous benefits and features of the GGPoker platform and liquidity. This collaboration further highlights GGPoker’s dedication to innovation, excellence, and global outreach in the online poker industry.
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