“There’s strong competition among vendors… but a growing trend of collaboration is helping to bridge gaps”

With many markets becoming locally regulated, operators need to adapt their KYC and AML processes to each jurisdiction. How is LeoVegas Group rising to these technical challenges?

“We’re fully committed to establishing ourselves as a leader in KYC, not just as a general practice, but across all the regulated markets we operate in. We’ve already integrated a diverse range of vendors to strengthen our critical KYC processes. For example, we’re in the process of rolling out an additional document verification vendor, which is a key step in enhancing our verification capabilities.

What I believe sets us apart is our strategic approach in this area. We try to find vendors who are both global players and local experts, so they can provide deep market knowledge. By combining international expertise with localised insight, we’re in the best position to create a robust KYC framework that can prevent financial crime and ensure compliance with local regulations.”

ICE Barcelona brought together more than 1,000 exhibitor brands and 100 regulatory bodies from across the igaming ecosystem. What were your key takeaways from the conference?

“There’s strong competition among vendors to deliver a 360-degree view of the player journey, but a growing trend of collaboration is helping to bridge gaps. Competition is visible in the way vendors aggregate and analyse data, as well as in the design of their portals – which are becoming increasingly sophisticated in providing this full perspective. However, many vendors we spoke with are already teaming up across different areas, combining their strengths to cover more ground in the KYC process.

A second takeaway is the growing importance of mastering the entire player journey. From capturing client documents and facial recognition to preventing fraud and optimising each market with the right vendor solutions, it’s all about managing the chain effectively. This can sometimes conflict with vendors’ ambitions to offer a one-size-fits-all 360 solution, but this is where your proprietary platform can give you a competitive edge. LeoVegas Group maintains control over its own tech, so we’re in a stronger position when it comes to optimising player experience, as well as in contract negotiations, bringing us one step closer to offering the best igaming experience, tailored to each market.”

With technological advancements like geolocation services and device fingerprinting coming into play, do you think operators will be able to strike a better balance between player experience and regulatory requirements?

Absolutely. Technological advancements are key tools in helping operators strike a better balance between player experience and regulatory requirements. There’s often a gap between what technology can offer and what regulations demand, but history shows that these ‘gaps’ don’t tend to last. In fact, these divides can be big drivers in the development of new technologies, like geolocation services and device fingerprinting, which can help as part of a broader strategy to monitor and verify players, delivering an even smoother player journey.”

Author

Phia Warr Corporate Communications Specialist