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iDenfy’s ID verification creates a frictionless KYC flow for SoftGenius
Kaunas, Lithuania (November 16, 2023) — iDenfy, a global RegTech startup best known for its ID verification and fraud prevention tool hub, announced a new partnership with SoftGenius, a software development company specializing in crafting premier iGaming solutions. iDenfy’s identity verification and AML solutions will assist in the screening and onboarding process of SoftGenius’s expanding customer base.
Know Your Customer (KYC) is a legal requirement in the online entertainment and iGaming sphere for various reasons, including age verification, checking the validity of ID documents, and identifying potential risk factors, such as financial affordability concerns or issues related to gambling. According to iDenfy, online gaming operators and product developers must fill these trust and safety requirements while focusing on user experience and compliance in mind.
iDenfy, a leading name in the RegTech space, emphasizes the significance of online gaming operators and product developers meeting these trust and safety requirements. iDenfy claims that iGaming enterprises and their developers must understand the importance of balancing user experience and regulatory compliance. As claimed by iDenfy, this is extremely important. With the global market for online gaming surging to a staggering $26.14 billion in revenue in 2023, as reported by Statista, the competition has never been more intense.
SoftGenius recognizes that ID verification serves a dual purpose – it’s not just a legal requirement but also an essential instrument for combating fraud and fostering trust, a critical aspect within the realm of iGaming. SoftGenius’ team believes that its product development process always has room for improvement in all aspects, including well-established functionalities and security features, so they wanted to implement a new KYC solution that could add an extra layer of security.
Currently, SoftGenius is working on building a new generation of entertainment and gaming, providing well-executed development services for online casinos and sports betting platforms. With founders and team members boasting over a decade of experience working within and alongside some of the largest iGaming companies globally, they possess a profound understanding of the whole industry.
According to iDenfy, many internal compliance teams and KYC agents constantly face a substantial volume of documents, resulting in drop-offs and a less optimal user experience. For this reason, according to KYC professionals, manual identity verification processes can’t offer the same level of user experience as AI-powered software. SoftGenius agrees with this approach, which made the company initiate a quest for an automated identity verification solution. Their goal is to streamline the verification process and elevate the overall user experience for their clients.
In addition to the ID verification solution, SoftGenius integrated iDenfy’s AML Screening tool. This new tool empowers the software development company to conduct automated Anti-Money Laundering (AML) checks, significantly reducing the time spent cross-referencing different databases and lists to verify that the customer poses no risks to the gaming operator. iDenfy’s solution automatically scans Politically Exposed Persons (PEPs) lists, sanctions lists, and global watchlists. This proactive approach enables SoftGenius to ensure secure user journeys, minimize risks, and expedite the verification of trusted customers, all without adding unnecessary complications to the KYC process.
It’s worth noting that iDenfy’s ability to deliver transparent and comprehensible information during our initial conversation stage left a strong impression on the SoftGenius team. This was instrumental in deepening the company’s understanding of iDeny’s identity verification and AML Screening tools and how they could enhance its operations. For this reason, the blend of clear communication, alignment with SoftGenius’ budget, and outstanding collaboration made iDenfy the perfect choice for fulfilling its KYC requirements.
“The combination of iDenfy’s ID verification and AML tools is what made a starting point for our automated fraud prevention strategy. We’re excited about this partnership, which helps us enhance security and ensure compliance in the iGaming industry,” — said Kati Holasz, the CTO of SoftGenius.
“Our goal is to help partners take a risk-based approach to fraud management and simultaneously deliver an exceptional customer experience. This is exactly what we’ll be doing together with SoftGenius,” — added Domantas Ciulde, the CEO of iDenfy.
About iDenfy
iDenfy is a RegTech startup that provides AML, KYC, and KYB compliance solutions to businesses of all sizes. The company has been recognized as a leading identity verification software in G2’s Summer 2023 report. iDenfy has also won the “Enabler of the Year” category at the Lithuanian Fintech 2023 awards.
For more information and business inquiries, please visit www.idenfy.com.
Expanse Studios, the iGaming B2B provider and a subsidiary of Golden Matrix Group Inc., is set to make a significant impact at SiGMA Asia, the leading gaming and tech event in Manila, Philippines.
From June 2 to June 5, 2024, Expanse Studios will welcome visitors at Booth BR601, showcasing its latest innovations in casino game development, so visitors will be able to experience the future of iGaming.
Asia’s Premier Gaming Conference
SiGMA Asia 2024 is the heartbeat of the gaming industry in Asia, bringing together over 20,000 delegates, including top government officials, seasoned C-level executives, and major influencers. The event is renowned for spearheading change and setting industry benchmarks, offering an unparalleled platform for networking and business growth.
Strategic Impact on Investor Relations
Participation in SiGMA Asia underscores the strategic importance of Expanse Studios within the Golden Matrix portfolio, highlighting its role in strengthening GMGI’s B2B segment and reducing dependency on third-party suppliers. This presence not only showcases Expanse Studios’ capabilities but also reaffirms GMGI’s commitment to innovation and self-reliance, enhancing investor confidence and showcasing the company’s long-term growth potential in the competitive iGaming landscape.
What Expanse Studios Offers
At the core of Expanse Studios’ participation is its dynamic range of gaming products, which include:
- Classic Slots: Combining traditional gameplay with modern visuals
- Crash Games: Offering fast-paced, engaging experiences
- Turn-Based Strategy Games: Merging strategic depth with iGaming fun
- Traditional Card Games: Bringing classic table games to digital platforms
Each game is designed with cutting-edge graphics, immersive animations, and user-friendly mechanics, ensuring that Expanse Studios remains at the forefront of technology and player engagement.
The post Expanse Studios (GMGI) Showcases Innovation at SiGMA Asia Philippines appeared first on European Gaming Industry News.
LuckyStreak, the Riga-based iGaming services provider established in 2014 has forged a new partnership with iGaming solution provider Nemesis.
The multi-faceted deal means that both businesses will provide their world-class games to each other’s content aggregation solution.
LuckyStreak’s premium live dealer games and aggregated 3rd-party content will now be available to Nemesis’s extensive network of major platforms and operators in the regulated Italian market, and beyond.
As a game studio, Nemesis’s impressive portfolio of 34 (and growing) highly engaging and exceptionally well-executed slots games for the Italian and .com markets will join other leading providers on LuckyStreak’s content aggregation API, LuckyConnect, and will be available to its network of over 1000 online casinos worldwide. Nemesis is the fourth new provider to join LuckyConnect in 2024, following recent additions Rogue, PG SOFT and Playnetic.
LuckyStreak has been producing and streaming world-class live casino games since 2014 with a commitment to providing content with the highest quality gameplay experience, hosted by well-trained Games Presenters, and the highest standards of production, streaming and reliability. LuckyStreak games are played at online casinos globally.
With the LuckyConnect casino api, casino operators have a one-stop-shop solution for all their igaming needs including: content management, reporting, billing as well as promotions, marketing and technical support.
Nemesis, a Romanian-based igaming service provider, established in 2019 and both an iGaming content and platform solution provider. The company has rapidly expanded into the global market and is now proud to have established a solid customer base. Its games are available in over 10 countries. It offers a range of in-house developed software solutions combined with extensive operational experience. Its RGS can produce up to 50 online slot machine models.
The company is passionate about gaming and is dedicated to providing the best possible solutions for any gaming business, sharing its passion with its customers. It provides a custom product that is stable, secure, and perfectly tailored to any client’s needs. The team, consisting of graphic designers, animators, musicians, mathematicians, developers, analysts, marketers, and technical support, is constantly growing to meet market opportunities.
Rory Kimber, LuckyStreak Commercial Director said: “This partnership is a key step in our 2024 growth strategy. Nemesis produces great slots with original, engaging and individual executions to a very high standard, adding depth to our aggregation solution, and our players and operator customers will love them. And at the same time, Nemesis also provides invaluable access to the Italian regulated market – of significant importance to our business – and .com markets, and an introduction to their enviable network of casino operators for our high quality live games.”
Jennifer Meli, Nemesis CEO added: “This partnership with an established and professional igaming specialist in LuckyStreak continues our trajectory of growth since our launch. It demonstrates what we know, that our games are high quality and original, and players love to play them; extending that distribution through LuckyConnect is a logical and key step. We’re also delighted to bring LuckyStreak’s proven, premium content to our customers in Italy and other markets, we are confident that it will further enhance their propositions and revenues.”
The post LUCKYSTREAK PARTNERS WITH IGAMING NEMESIS IN BUSINESS BOOST appeared first on European Gaming Industry News.
Jackpot.com, the online website and app that allows lottery players to securely order official state lottery tickets from their mobile phone, tablet, or desktop, has launched in New Jersey. Investors include prominent New Jersey sports investors such as the Tisch family, co-owners of the New York Giants and Gotham FC, and NHL legend and Hall of Famer Martin Brodeur.
With Jackpot.com, New Jersey lottery players can instantly order tickets for Powerball and Mega Millions as well as all their favorite state lottery games, including Pick-3, Pick-4, and Cash 4 Life. The innovative and secure platform purchases tickets on behalf of its customers from official state lottery retailers, displaying a scan of their ticket and transferring winnings under $600 in real-time to their account. For prizes greater than $600, Jackpot.com securely delivers the ticket to the winning player so they can collect the winnings from the New Jersey Lottery.
“We’re thrilled to announce Jackpot.com’s New Jersey launch, the sixth state that will feature our unique service. We are excited to help New Jerseyans play the lottery online with increased convenience, security, and safety. At Jackpot.com, we’re always looking to enhance the player experience through increased accessibility and a more convenient and secure environment for players to purchase tickets, while also ensuring players never lose a winning ticket ever again,” said Jackpot.com CEO and co-founder Akshay K. Khanna.
“We saw how successful last summer’s New York launch was for Jackpot.com and we knew we wanted to be a part of bringing the fun and accessibility of online lottery to New Jersey. We are happy to be a part of Jackpot.com’s continued growth in the tri-state area, investing in an intuitive, easy-to-use method that is sure to be enjoyed by New Jersey consumers,” said Carolyn Tisch Blodgett, CEO and Founder of Next 3.
Jackpot.com has set a new standard for responsible gaming through the integration of modern conveniences and safety guardrails, one of the key distinctive features of these digital platforms. The company has significantly invested in responsible gaming protections by allowing customers to set spend limits, setting default limits on daily deposits, providing access to local and national responsible gambling resources, self-exclusion, self-suspension, and automated notifications that offer help should problematic behavior be detected. Jackpot.com is the only lottery courier service to launch with iCap certification from the National Council on Problem Gambling.
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