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Dench eGaming Solutions enters the Latvian market with Klondaika.lv

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The B2B turnkey gaming platform Dench eGaming Solutions has entered the Latvian controlled online gaming market by hooking up with the land-based casino operator Furors, established in 1993. With the group operating 29 Slot rooms with a total number of approximately 700 slots across the territory of Latvia and full-size casino in the capital city of Riga, the company is popularly known under the brand Klondaika.

With the offering all set to go live in April 2018, Dench will supply Klondaika with its Dench Core gaming platform and the fully automated marketing instrument Giselle. The deal will confirm Klondaika promoting its products and extending its brand presence over the net while clinging to the same playful marketing approach and delivering bespoke user experience.

Dench’s Chief Executive Dobromir Mitev commented. “This agreement is strategically important as it represents a validation of Dench‘s commitment to keeping its focus on regulated gaming markets and supports the investments we are making in our infrastructure to become multi-market compliant platform provider.’’

“Through this agreement, Dench is expanding its geographical reach to Latvia and we are doing so with one of the oldest players in the Latvian gambling industry, Klondaika.”

“With this agreement we have also reached our goal of signing three agreements by the end of 2017, and position Dench as B2B gaming platform to watch in 2018,” Dobromir added.

“For more than two decades, Klondaika has delivered a premium service through their network of more than 30 gaming halls. We are excited that they have chosen Dench as their platform provider as it demonstrates their desire and determination to introduce something completely new to the Latvian market in terms of real-time bonus campaigns and deeply integrated engagement technics.”

The Klondaika online Director Krisjanis Kravis stated: “We are happy that we decided to cooperate with Dench. In the research process, we evaluated Dench and their automated retention instrument Giselle as the best choice to re-create our brand digitally. We consider that through our local knowledge in a combination with their innovative technology will be reinventing the way players interact with our brand.”

Kravis explained: “Although the Latvian market gets more competitive every year, entering last on the scene might turn to be good opportunity to prove we could be soon on the front rows.” “We are looking forward to the launch as I believe we have made a sure bet with Dench’s suite of products.”

Dench eGaming Solutions: Dench eGaming Solutions is a B2B software provider with strict focus on the iGaming industry. They specialise in providing next generation turnkey gaming platform, white label services and most importantly deliver a real time marketing automation solution focusing on customer bonusing, rewards and engagement.

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Lithuania to Ban Gambling Ads

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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.

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Baltics

Genome launches SEPA instant payments, adding another valuable feature for iGaming companies

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Genome launches SEPA instant payments, adding another valuable feature for iGaming companies
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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.

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Baltics

iDenfy Partners with Confindo to Enhance Security and Prevent Loan Fraud

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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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