Online betting firm Novibet has partnered with W2 in a digital compliance agreement, adopting the FullCircl ID solution platform’s AML product range.
Novibet will integrate W2’s full AML toolkit. This includes the firm’s access to global sanctions, politically exposed persons (PEPs) and watchlist data from markets in the EU, North America and South America.
W2 will screen records for Novibet to identify and prevent money laundering at various stages of the online betting payments journey. This will include the onboarding stage, ongoing monitoring and at the point of translation.
Giannis Papastamou, Head of Customer Compliance and Group MLRO at Novibet, said: “W2 came highly recommended by DTI Solutions, a leading cyber security integrator to the gambling industry.
“This collaboration underscores our dedication to maintaining the highest standards of regulatory compliance and ongoing player protection while delivering a seamless and secure gaming experience for our customers.
“Based on what we’ve seen so far, we’re already keen to explore ways to integrate more of the W2 product suite into our platform.”
FullCircl acquired W2 in August last year, having identified the firm’s KYC, AML and anti-fraud services as fitting in line with its medium-term growth strategy.
As well as AML and anti-fraud, affordability has also become a key area of focus for W2 in recent years. This has particular significance in the UK betting market, where the government is moving ahead with regulatory reforms.
“We are delighted that Novibet has selected W2 by FullCircl,” commented Jess Whitehouse, Head of Customer Success, Identity Solutions at FullCircl.
“We’re providing them with a best practice approach to gambling compliance, including non-intrusive identity verification checks that balance the need for customer due diligence (CDD) with frictionless onboarding and superior player experience.
“I would also like to thank our trusted partner DTI for their role in bringing this partnership to fruition.”
