Innovation and Regulation
Living up to its international reputation, the hugely global gaming industry was represented by exhibitors from 62 nations and attendees from all over the world, with continental Europe perhaps the largest market in attendance at this year’s ICE.
The tone of innovation was clear throughout the show as well as the increasing role of regulation. There was emphasis on solutions that can effectively adhere to regulations but are advanced enough to keep up with consumer demands for convenience and personalised experiences.
The industry appears to be in transition with technological advancement and regulatory changes forcing business to adapt their offerings. With KYC on the agenda for many attendees, gambling providers were on a quest to find the next innovative yet compliant solution.
Fraud Prevention & Identity Verification
Our Sales & Product Director Ahmed Amin joined an esteemed panel alongside Gon Kemeny, We Ankor, Sky Betting & Gaming, and The Rank Group to discuss how technology can provide effective fraud prevention and robust identity verification without deterring players with added friction in the user experience.
A noticeable theme was gaming companies looking to break into unregulated markets, such as Senegal (which currently rely on traditional verification methods such as manual document scanning), searching for effective digital solutions. With current methods being inefficient and leaving them open to fraud, it was on many business’ agendas to find alternative data sources to improve their verification methods.
As mentioned briefly earlier, another key challenge for attending businesses was finding solutions (predominantly ones that leveraged new and different data sources to their existing solutions) that could help understand player behaviour and nurture them through the customer lifecycle.
Data Science & Personalisation
Our Gaming Lead Charles Mott delivered a case study to attendees in the Data Science & Personalisation track, taking them through the insights that can be gained through alternative digital data and how to apply these to identify and predict player behaviour. He showed visitors how gaming companies can funnel consumers through specific relevant lifecycles rather that applying the same communication and marketing strategy to all players alike (don’t worry if you missed it, you can book a slot with Charles here) .
As well as improved relationships with customers, these insights facilitate responsible gambling by identifying potential problem players through affordability indicators, PEPs & Sanctions checks, and AML and KYC checks.
What does this mean?
So what does this mean for the gaming industry? Will we see more companies adopting innovative processes and less reliance on traditional verification methods? Will there be any struggle to comply with the ever-changing regulations?
See you next year ICE…