OneComply: Regulators need better solutions for compliance

Centralised licensing was a key topic of focus for OneComply CEO, Cameron Conn when he recently spoke on the importance of compliance when entering new markets with SBC Americas

The head of OneComply spoke on the varying number of people who have approached OneComply on finding the best solutions to enter new and emerging igaming/betting US markets. 

Conn revealed that scalability is one of the primary objectives for firms looking to break into different jurisdictions, and the OneComply CEO reveals that his company has the data available to make those transitions a lot more seamless. 

He said: “Those have been conversations we’ve been having over the last couple of years, especially with scalability and how we manage this process. We’ve been having this with all our clients asking ‘how do we get into a market quicker?’ 

“If you look at a state like Ohio, they gave you a month. I think we had 12 clients apply in Ohio and they did it in the first week because that data was readily available removing a lot of that stress. 

Conn added that OneComply wanted to ensure that the industry saw it as more than just a licensing tool, as it offers real benefits for ongoing compliance. 

The traditional approach has involved companies hiring employees who specialise in particular areas and keep their records in spreadsheets, but Conn believes that has to change as the online betting and gaming industry grows and the multi-state compliance burden becomes greater. 

Conn said: “We can’t continue to throw FTEs at it. There’s too much intellectual property at risk because any time there’s turnover, are the skeletons going with the person that just left, where they know where the files are and what they need to do every single month?

“We need a little bit of risk mitigation. Centralising that, providing that accountability in one system, allows you to be protected even if someone leaves your organisation.”