GeoComply and Sightline have entered a gaming-focused partnership, aiming to combine respective specialities in compliance technology and fintech.
Planned over the coming months, Sightline will integrate GeoComply’s IDComply verification solution and geolocation tools across its digital payments suite for land-based casinos and online gaming operators.
The duo have identified a surge in use of digital wallets and transactions in igaming, which has come with ID certification challenges and is therefore experiencing more customer friction, particularly in areas such as Nevada.
Sightline will use IDComply to authenticate customers on its gaming payment platforms and simplify cashless wagering accounts and online registrations.
Sightline SVP of Business Development, Rose Zwirn, said: “Digital payments continue to proliferate in the regulated gaming industry, and it is essential to have solutions that safely, securely, and swiftly validate customers’ identities.
“Implementing these tools across Sightline’s payment solutions will significantly decrease the time it takes to validate an identity and they will bolster compliance with the evolving regulations that govern digital financial transactions.
“Our vision is to create an omnichannel customer experience where patrons can seamlessly enrol, fund, and play their game of choice in under 180 seconds, putting gaming more in line with payments technologies in areas like retail and ecommerce.”
Ensuring ID verification is a requirement of the US Bank Secrecy Act (BSA) and Office of Foreign Asset Controls (OFAC). The partners believe this new collaboration will help operators meet these requirements whilst also strengthening KYC and AML protocols.
The US betting sector has grown significantly in the years since the repeal of PASPA in 2018, with 36 states now offering online betting, gaming, or both. This growth has come with some big opportunities for payments and fintech.
Sightline has been one of many companies to capitalise on this growth, having signed partnerships with some prominent land-based casinos such as Parx Casino and Resort World Las Vegas, offering solutions such as its Visa-branded Play+ debit card.
Meanwhile, GeoComply has also been building up its links to the betting sector, not just in the US but also in Canada. The company’s geolocation technology has processed more than 10 billion transactions annually and has been installed on 400 million devices globally.
Sam Basile, VP of Business Development at GeoComply, remarked: “Our companies have a long history of collaboration and we’re excited to be working together to implement our GeoComply Core and IDComply solutions for Sightline’s customers.
“Our goal is to provide digital trust in every online transaction while opening the funnel for legitimate players and stop fraudsters from entering the digital gaming ecosystem. Working with best-in-class partners like Sightline gets us closer to that goal.”
