Cash-to-digital payments firm Neosurf has launched a new product at the SBC Summit Lisbon, the Neosurf Compliance Handshake (NCH), a compliance solution.
Neosurf has taken note of the increased use and importance of data in the modern customer journey, something that is very significant for the betting industry where companies regularly handle vast amounts of customer data.
The firm states that its new solution suite contains several data-sharing services that directly support betting operators in tracking player behaviour, monitor customer spending and ensure compliance with anti-money laundering (AML) rules.
“We see data sharing as a crucial tool to assist operators in creating safer gaming environments,” said Andrea McGeachin, Neosurf Global CEO.
“Our Compliance Handshake isn’t just about regulatory compliance; it’s about player safety and forging stronger relationships with regulators across key markets like the US, Canada, and the Netherlands.”
The betting industry has come under mounting pressure in recent years, largely due to concerns around player protection and gambling harm prevention. This has been perhaps most notable in the UK.
The UK Gambling Commission (UKGC), Britain’s gambling regulatory body, has often called on the industry to look to the finance sector as an example of effective data use. Some politicians have echoed similar sentiments.
With a lot of talk around data sharing and KYC in the industry – including a lot of promotion for Open Banking as a solution to the industry’s affordability question, it is unsurprising that fintech and payments firms like Neosurf are looking to tailor industry-specific solutions.
The company’s NCH offering contains three core solutions – the KYC handshake, a real-time data-sharing tool verifying player credentials; bespoke reporting, covering insights on transactional and behavioural data; and responsible gaming and affordability checks, enabled via a new partnership with Department of Trust (DoTrust), a KYC solutions firm.
“At Neosurf, we believe that all payment companies can contribute to a safer and more responsible gaming environment,” McGeachin continued.
“The Compliance Handshake sets the standard for how data-sharing can support both operators and players, ensuring sustainable growth in the industry.”
