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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

EGBA Welcomes European Parliament’s Approval Of New EU Anti-Money Laundering Framework

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EGBA Welcomes European Parliament’s Approval Of New EU Anti-Money Laundering Framework
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The EU’s new anti-money laundering package aims to create a more consistent regulatory framework and will benefit online gambling operators by standardising AML rules and reporting requirements across member states.

Brussels, 24 April 2024 – The European Parliament has approved the EU’s new anti-money laundering (AML) package at its plenary sitting today, marking a significant milestone towards a new EU framework for combatting financial crime. The European Gaming and Betting Association (EGBA), representing Europe’s leading online gambling operators, welcomes the Parliament’s approval of the new AML package and believes the incoming rule changes will strengthen the EU’s approach to tackling money laundering.

The new package will contain:

  • single rulebook regulation – with provisions on conducting due diligence on customers, transparency of beneficial owners and the use of crypto-assets.
  • The 6th Anti-Money Laundering Directive – containing national provisions on supervision and national AML authorities, as well as on the access of authorities to necessary and reliable information, e.g. beneficial ownership registers.
  • The establishment of the European Anti-Money Laundering Authority (AMLA) – which have supervisory and investigative powers to ensure compliance with AML requirements, operating in conjunction with national AML authorities.

EGBA believes the new rules will benefit Europe’s online gambling operators by ensuring a consistent regulatory approach across EU member states. Another important feature, under the competence of AMLA, will be the creation of a harmonised reporting format for Suspicious Transaction Reports (STRs). This will ensure that Europe’s online gambling operators encounter the same STR requirements across all EU member states, thereby setting clear and consistent expectations that will reduce administrative burdens and costs.

To assist online gambling operators in complying with the EU’s new AML rules, EGBA has developed industry-specific guidelines on anti-money laundering which apply a risk-based approach and include practical measures that operators can take – on customer and business risk assessments, customer due diligence processes, suspicious transaction reporting, and record keeping. EGBA members already apply the guidelines and submit annual reports to EGBA that summarise their progress in implementing its measures. The guidelines are also open to all operators based in the EU and EGBA encourages operators to sign up to them.

The AML package now awaits formal adoption by the Council of the EU, expected in May, before being published in the EU’s Official Journal.

“We welcome the European Parliament’s approval of the new anti-money laundering package. The new framework will set high standards and ensure greater consistency in the application of AML rules across the EU. Online gambling operators, especially those operating in multiple countries, will benefit from a single rulebook and harmonised reporting requirements that will unravel national complexities. We will look to review our industry guidelines on AML to ensure their alignment with the new EU rules. By signing up to the guidelines, operators can already prepare themselves for the incoming changes in the EU rules and join our members in their efforts to proactively and positively contribute to the EU’s fight against money laundering.” – Dr. Ekaterina Hartmann, Director of Legal and Regulatory Affairs, EGBA.

 

Source: EGBA

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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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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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