Compliance Updates
Proxyrack automates its KYC compliance by integrating iDenfy’s software
iDenfy, a Lithuanian-based RegTech and identity verification company, announced a new partnership with Proxyrack, a leading provider of proxy solutions based in Hong Kong designed to enhance online proxy data-collection capabilities. Through this collaboration, both businesses will improve Know Your Customer (KYC) processes, ensuring more accurate and efficient user registration and higher approval rates for Proxyrack’s network.
Proxyrack operates in the tech industry, providing a vast network of residential and data center proxies to businesses and individuals. These services are essential for web scraping, market research, ad verification, and bypassing geo-restrictions. What sets Proxyrack apart is its commitment to fostering innovation and creativity, as well as striving for accuracy by providing diverse IP addresses and scalable performance to meet diverse user needs as the company’s values align with the clients’ requirements and eagerness to bring any ideas to life.
Proxyrack’s internal research showed that hiring an in-house Know Your Customer (KYC) specialist team would require more financial resources and highly skilled compliance professionals. For this reason, the proxy service provider decided to partner with a highly efficient and established third-party KYC vendor. After a thorough evaluation of several identity verification providers, Proxyrack selected iDenfy for its exceptional flexibility and competitive pricing.
According to the Proxyrack team, iDenfy’s solution stood out as it offered customizable screening options that ensured users were not miscategorized, which was the main issue that Proxyrack encountered while working with the previous KYC providers. Currently, Proxyrack uses iDenfy’s biometric identity verification solution which according to the company has resolved significant issues and increased work efficiency. As the main thing of users’ miscategorization iDenfy’s solution worked seamlessly from the start, providing peace of mind that user data is secure and verifications are highly accurate.
According to Proxyrack, iDenfy was chosen because of the flexibility the system offers, which their previous providers could not offer. iDenfy’s options for screening candidates and ensuring accurate user categorization were exactly what they needed. Additionally, the competitive pricing was a pleasant surprise, and it ended up being more cost-effective than expected.
Another standout feature of iDenfy is their pricing model, which charges only for successful verifications, unlike other competitors that charge for all attempts. This approach significantly reduces costs and ensures that clients only pay for results. iDenfy’s competitive pricing policy makes their services more cost-effective without sacrificing users’ reliability or other compliance check benefits compared to other providers in the industry.
In addition, iDenfy’s identity verification solution is able to automatically recognize, verify and extract information from 3000+ identity documents across 200 countries and territories including various passports, ID cards, licenses and permits to accurately identify documents on a global scale and to check the authenticity of users.
As for future plans, Proxyrack’s top priority as a company is to ensure that their customers are of the highest caliber, providing data-collecting solutions at scale for users who trust them with their public web scraping needs. The partnership with iDenfy aligns perfectly with this goal, enhancing Proxyrack’s ability to deliver secure and reliable services. In the future, based on the positive experience, Proxyrack is also thinking of expanding and using additional iDenfy’s fraud prevention solutions.
“A growing proxy user network means that a fully automated approach to KYC compliance is required. We’re glad to be able to help Proxyrack with their goal to scale faster and onboard more new users in less time, which is a vital factor in today’s highly competitive market,” commented Domantas Ciulde, the CEO of iDenfy.
Compliance Updates
Aviatrix flying in Italy following certificate approval
Aviatrix, the groundbreaking crash game renowned for its unique engagement mechanics, is building new partnerships in Italy following the granting of a certificate in the country.
The Italian certificate enables Aviatrix to collaborate with operators regulated by the Agenzia delle Dogane e dei Monopoli, introducing casinos fans in Italy to the award-winning game for the first time.
Players at many of the biggest brands in Italy will soon be enjoying Aviatrix.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We are excited to be bringing Aviatrix to players in Italy for the first time. This is a market where innovation and player engagement are highly valued, so we’re certain our product will be a great fit. And more than that, we have an opportunity to play a central role in one of Europe’s most vibrant online gaming cultures. We can’t wait to get started with operators in the country.”
Aviatrix is fast establishing itself as an important game in regulated jurisdictions, as it already is in emerging ones.
Australia
NSW Govt Appoints New Board Members to ILGA
The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.
Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.
ILGA is a statutory decision-maker responsible for a range of liquor, registered club and gaming machine regulatory functions including determining licensing and disciplinary matters.
The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.
Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027).
Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.
Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.
Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.
Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.
The new appointments bring the ILGA board membership to seven. The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.
Compliance Updates
Ireland’s New Gambling Regulator to Begin Work on Phased Basis Next Year
Ireland’s new gambling regulator is likely to begin overseeing betting businesses in the Republic midway through next year, industry figures predict.
President Micheal D Higgins recently signed the new Gambling Regulation Act, which overhauls licensing and creates a new authority to govern betting firms, into law. Industry figures forecast that the new regime should begin operating midway through next year, a key point for many businesses as they will have to renew online betting licences by that time.
Government also has to pass several milestones before the new Gambling Regulatory Authority of Ireland can start functioning, including appointing the seven people the body requires.
Minister for Justice Helen McEntee appointed senior civil servant Anne Marie Caulfield as chief executive designate of the authority in summer 2022. Her office has 11 staff. According to the Department of Justice, the State’s Public Appointments Service will shortly begin recruiting the authority’s seven members.
The Minister will appoint the candidates the service recommends.
The department could not say when the authority would start regulating but noted this would happen in a phased “timely manner” after its establishment.
Jack Chambers, Minister for Finance, earmarked €9.1 million for the authority next year in this month’s budget. That includes €4 million for technology.
Ms Caulfield wrote to industry organisations last week confirming that her organisation would begin its work on a “phased basis” but pointing out that it has already completed many preparations. In a statement she said that the authority was committed to keeping the industry fully informed so businesses can “plan for the new regulatory regime”.
Meanwhile, the Public Service Appointments Service last week advertised for someone to head the authority’s social fund. Under the new law’s provisions, betting businesses will contribute to this fund which the authority will use to tackle problem gambling.
Betting businesses regard the fund’s establishment as one of the key steps towards establishing the new regime.
Alongside that, they say that the authority will also have to set up its new licensing system. The law demands that all gambling businesses operating in the Republic be licensed and makes it a criminal offence to operate without a proper permit.
Lawyers at Arthur Cox recently noted that current permits are preserved until licensing sections of the act come into force. Existing high street and online bookies’ licences will have a run-off period, but lawyers said that how this would work in practice depended on how the regulator developed the new system.
Betting businesses are keen that the authority works on a national self-exclusion register for customers who voluntarily ask bookmakers not to take their bets. Currently, most individual bookies have systems where customers who fear they have a problem, or are at risk, can exclude themselves in this way.
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