Making KYC and payment ‘innately linked’

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Casino Review caught up with Samuel Barrett, director of gaming at know-your-customer specialists, Trustly. Winning firms, he says, will be those that keep players waiting the least.

International Casino Review: What would you say are the main challenges facing your sector this year and where do you see the best solutions?

SAMUEL BARRETT: New legislation such as AML4 is necessary to ensure we as an industry crackdown on illicit activities, but it also poses a challenge, compelling gaming operators and payments companies to rethink how they can provide a frictionless player experience.

I think the payments companies that can provide the information for any given gaming operator to fulfill their KYC need has a major advantage. The winners will be those that make the need for any other third party to collect personal data unnecessary since the payment and the KYC are so innately linked.

ICR: If you could enter a new market this year, which would it be and why?

SB: Right now our main focus is on Europe. We are working hard to provide the best products we can to European businesses and are especially keen on perfecting our products in Germany and the UK. But if we were to enter a new market, I think Australia or Canada could be promising.

Consumers in those markets show a growing preference for paying with their online bank and those markets also have advanced digital authentication methods, which we believe are an important factor in stimulating further growth.

ICR: Which technologies or innovations do you think will most determine the industries risers and fallers in 2018?

SB: I think the technologies and innovations that will separate the risers from the fallers will be those that put the player experience front and center. Consumers today have become accustomed to convenience and immediacy in almost all aspects of their lives, from how they communicate with loved ones to how they consume media and even order food.

It’s no different in the gaming sector, where players expect to be able to start playing their favourite games quickly, and make deposits and withdraw winnings instantly. The companies that make that possible will surely see success.

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