iGaming service provider mybet integrates and is live with 4Stop.
Press Release Published on March 7th, 2018. View Press Release on Newswire.
Cologne, Germany - 4Stop (“FourStop GmbH”) a leading KYC, compliance and fraud prevention provider, announces that it has completed the integration of its proprietary risk management technology with mybet and is live and operational.
As regulatory requirements continue to evolve both in the type of due-diligence required and the level of complexity in which it is performed presents many challenges for businesses operations and IT development to stay compliant and keep a risk-based model accurate and optimised as possible. The igaming sector in 2018 is expected to be overwhelmed to some extent by new AML regulations in Europe. As an example, the German sports betting association (DSWV) is currently working on the guidelines for implementation in the sports betting / gambling sector.
“While compliance is not an option, but a legal requirement, businesses must integrate processes that satisfy the regulator while still delivering a positive customer experience.”, states 4Stop Chief Risk Officer Alvaro Kurth.
The 4Stop solution collates a multitude of KYC data sources to create a large and elite KYC database which is supported via its advanced proprietary fraud prevention technology and accessed via a single integration. mybet has the ability to instantly activate required KYC in real-time and through 4Stop’s unique real-time cascading KYC verification technology can dynamically verify customers in the most efficient, user-friendly and cost-effective manner possible.
“As an international quality provider of sports betting and online casino services, we have to deal with many and various national requirements for verification and validation of customers. With new regulations enforced we were experiencing the weight it was putting forth on our operational and IT teams to perform all the necessary due diligence required. By integrating 4stop, we are now able to create specific compliance solutions for countries and customer segments with a single software suite, providing us cost-savings by reducing the number of integrations and interfaces required to support our business.”, states mybet Head of Software DevelopmentCTO Alexander Duda.