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Trustly plans to branch out in Germany

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Photo credits: Trustly
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Trustly, the Swedish fintech company that provides solutions for online banking plans to expand and branch out in Germany. With regard to this, a promulgation sealing the expansion was made that its online banking e-payments method has earned ‘TÜV-certified’ status for legal data protection and IT security.

TÜVs, are German businesses that provide inspection and product certification services and audits the compliance of an organisation with international standards.It is considered the gold standard for consumer protection within the industry. TÜV Saarland’s seal of Approved Data Protection officially recognises the high level of protection offered to partners and consumers using Trustly’s payment method, which facilitates online bank transfers.

The achievement underpins Trustly’s strategic priority for 2018 to strengthen its position on the German market, building on its growth in 29 European markets. Using Trustly, merchants can sign just one contract to support bank payments from more than 3,000 banks, including Sparkasse, Volksbank and Deutsche Bank, eliminating the need to integrate with local banks individually. Trustly has also opened a new office in Cologne as it seeks to establish Trustly as a leading online banking e-payments provider in Germany.

Oscar Berglund, the CEO of Trustly, said: “As we rapidly expand our partnerships with merchants in Germany, we are delighted to have met the stringent requirements of such a respected independent and neutral institute like TÜV. This achievement reflects the priority we give to data security and the protection of personal data.”

Explicating  the company’s plans in Germany, he added: “Trustly is growing rapidly, and the expansion of new partnerships in Europe, and especially in Germany, is at the top of our agenda.”

Strengthening Trustly’s position in Germany

A major study “The State of Online Banking”, carried out by Trustly in 2017, with market research institute NEPA demonstrated the high level of trust banks enjoy. In Germany, according to the study, 71% said banks provide a secure online banking service and 70% used online banking e-payments in the past year. Demonstrating the level of interest in direct bank transfers, 44% of people in Germany said they would use Trustly if it was available as an option on an online shop.

“Trust is obviously fundamental when partners and consumers consider which payment methods to use,” Mr Berglund added, “given our findings that people across Europe generally trust their banks, it makes sense that they have high trust in online banking e-payments. Together with the convenience and speed of online banking e-payments, being at the forefront of the technology that makes it all possible puts Trustly in a strong position.”

Trustly on track for success in Europe

Founded in 2008, Trustly last year reached the EUR 10 billion mark in transaction volume and has recently welcomed a number of new clients. The new partnerships include Northern European online fashion retailer Boozt, the airline airBaltic, the Nordic digital bank Nordnet and the provider of international payment solutions Flywire. In addition, a new partnership with UATP, a billing system operated by numerous international airlines, has allowed Trustly to move into an untapped area of ecommerce travel, supporting airlines to grow their businesses and allowing passengers to pay for airline tickets directly from their bank account.

About Trustly

Founded in 2008, Trustly Group AB is a Swedish FinTech company that makes online banking e-payments fast, simple and secure. The company offers cross-border payments to and from consumer bank accounts at over 3,000 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services. In 2017, the Financial Times ranked Trustly as one of the fastest growing companies in Europe on the FT1000 list and the London Stock Exchange recognized Trustly as one of Europe’s most inspiring, fast-growing companies.

Trustly has 180 employees and is headquartered in Stockholm, Sweden, with regional offices in Spain, Malta, Germany and the UK. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. Read more at www.trustly.com

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Compliance Updates

European Union Updates Country List for Stricter AML Checks

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The European Commission, the executive branch of the European Union (EU), has updated its list of high-risk countries, from which players should be subjected to stricter customer checks by gambling operators.

Based on Directive (EU) 2015/849, Article 9, the Commission identifies any high-risk third countries that have strategic deficiencies in their regime on anti-money laundering and countering the financing of terrorism.

As such, operators based in the EU that are offering services to these countries or dealing with players from these nations are obliged to carry out heightened vigilance checks.

The list was first published in July 2016 and has been updated a number of times as further countries of concern are identified and flagged by the Commission.

The latest countries to be added to this list – in an update published last month – include Burkina Faso, the Cayman Islands, Haiti, Jordan, Malo, Morocco, Myanmar, the Philippines, Senegal and South Sudan.

Other nations included on the list include Afghanistan, Barbados, Cambodia, the Democratic People’s Republic of Korea, Iran, Jamaica, Myanmar, Nicaragua, Pakistan, Panama, Syria, Trinidad and Tobago, Uganda, Vanuatu, Yemen and Zimbabwe.

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Baltics

Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

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Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.

Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.

Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.

Participating in the event

As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.

To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair

About Games Factory Talents

A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.

To learn more about Games Factory Talents visit – Games Factory Talents

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European Union

EC Rejects Call to Reform Expert Group on Gambling

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EC Rejects Call to Reform Expert Group on Gambling
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The European Commission (EC) has stated that will not support the re-establishment of an “Expert Group on Online Gambling” – a cross member state collaborative body supported by 14 regulatory agencies.

Dutch gambling regulator Kansspelautoriteit (KSA) published the EC’s response to a letter sent by KSA Chairman Rene Jansen on behalf of European regulators requesting to reinstate the group which had been decommissioned in 2018.

Regulators backed the reinstatement of an Expert Group to exchange knowledge and best practices with regards to governing gambling and protecting national consumers from risks and harms.

Jansen’s letter further stated that regulatory cooperation was required to secure greater oversight on technical requirements and to better evaluate the legislative outcomes of member-states governing their regulated gambling marketplaces.

“The work of the Expert Group was particularly successful. We achieved results that benefited consumers, national authorities and the gambling sector and the active participation in the group also demonstrated that member states are well equipped and willing to achieve positive outcomes together. And we still believe this to be the case,” Jansen said.

Issuing a response, the office of European Commissioner Thierry Breton referred to the EC’s original verdict to decommission the group taken in December 2017.

The expert group was deemed as no longer viable following the European Court of Justice (ECJ) arbitrating 30 cases related to gambling, in which all casework stated that national regulations superseded EU rules.

The EC underscored that gambling laws and standards would be maintained as the domain of the individual member state – which can choose to apply its legislative preferences to taxation, the licensing of market incumbents, industry standards and how a member state should protect its national consumers from harms.

The Commission can only intervene on member-states gambling laws if they are deemed to have breached the wider EU policies on market competition, fair business policies and state aid rules.

Replying to Jansen’s concerns, the EC responded that gambling regulators had the support of individual policy units carrying comprehensive oversight on “anti-money laundering (DG FISMA), consumer and youth protection (DG JUST), the prevention of addiction (DG SANTE) or issues of taxation (DG TAXUD)”.

“At this stage, our Directorate General does not intend to reverse this decision and to reinstate the Expert Group on Gambling Services under its responsibility,” the EC letter concluded.

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