(MENAFN– EIN Presswire)
GAMBLING IQ ranks the top Open Banking payments engines, notable for merging PIS (Payment Initiation Services) and AIS (Account Information Services) to create a secure, affordable, and efficient payment landscape for players and iGaming operators alike.
Latest iGaming industry report explores how outdated, inaccurate approaches to affordability and credit scoring are harmful to both gambling operators & players
Balancing entertainment and safety has become pivotal and Gambling IQ selects Swedish open banking pioneer Trustly as the number one vendor in the data-driven iGaming payments space” – Gambling IQLONDON , UNITED KINGDOM , February 4, 2024 /EINPresswire / — A seminal new report from London-based independent advisory Gambling IQ reveals the leading Open Banking enablers and payments engines shaping new legislation and responsible gaming trends within the ever-evolving global gambling industry.
As online casino losses for players in the UK surge to an unprecedented £4.03 billion within a single year, and operators such as Gamesys are handed £6 million fines for social responsibility and Anti Money Laundering breaches, data-driven Open Banking payments engines emerge as powerful tool empowering gambling entities to precisely identify and support players at risk of harm.
REPORT HIGHLIGHTS:
-Exclusive new data from Plaid & PokerStars offers a panoramic view of the potential and current impact of Open Banking
-Trustly’s 1.2 billion data point engine – launches ‘Pay N Play’ in UK
-TransUnion & Bud on the Responsible Gambling Trend
-Exclusive Report: GamCare, Gamesys and ‘Safer’ Gambling Standard
-Paysafe/Skrill & MiFINITY enter Top 5 in the vendor rankings
-GBG’s Rebekah Jackson on the financial risk checks balancing act
-Special Report: The fuelling of problem gambling with loans
-Exclusive insight from TrueLayer’s VP of iGaming Roberto Villiani
-Spotlight on developments in South-East Asia with Brankas
-Fintech unicorn GoCardless enters the iGaming Market
The extensive new 30,000 word report available for download at , analyses and ranks the top open banking payments engines serving the gambling industry in relation to accelerating KYC and AML; single player view; fraud prevention; innovation leadership; secure account set up; responsible gambling; conversion rates; and instant pay-ins & payouts.
Balancing entertainment and safety has become pivotal and Gambling IQ selects Swedish open banking pioneer Trustly as the number one vendor in the data-driven iGaming payments space. Trustly’s new data engine Azura leverages 1.2 billion data points with play in 7.9 seconds and 98.8% conversion. This culminates in an ultra-fast user onboarding experience with its ‘Pay N Play’ flow now launching in the UK market in February 2024.
Reacting to news of the top accolade, Sïmon Saneback, SVP Growth at Trustly said:“We are delighted to receive this recognition from Gambling IQ. The launch of our ‘Pay N Play’ product in the UK market will simplify player onboarding and verification through direct bank deposits. And operators combining ‘Play N Play’ along with our affordability products will have a best-in-class model, whilst also complying with fast-approaching mandatory financial checks”.
In a closely contested competition, London-headquartered TrueLayer secured the second position globally due to its extensive iGaming expertise, serving clients within the Flutter conglomerate. The TrueLayer engine seamlessly integrates Open Banking into an uninterrupted flow throughout the entire player lifecycle, covering Onboarding & Bank Authentication, to Instant Pay-ins and Payouts.
Speaking in relation to TrueLayer’s rise to become an authority in the gambling industry, Roberto Villani, VP of iGaming at TrueLayer said:“This recognition from Gambling IQ reflects our status as an Open Banking leader in iGaming, having forged strong relationships with some of the industry’s biggest companies in a short period of time. Players demand a fast, smooth and safe experience whether they’re signing up to a website or withdrawing their winnings. TrueLayer caters to every stage of this journey by putting the customer at the core of our agile and innovation-driven approach to payments. And we’re just getting started.”
Fintech unicorn Plaid claimed third position on the vendor list with its Poker Stars integration positioning the company as a major contender. Paysafe/Skrill, with its 20 years of experience and an annual transaction volume of over $130 billion, came in fourth. And now the iGaming industry’s fastest-growing payment service provider, MiFINITY was placed at number 5; its dual licenses enabling its services in an impressive 225 countries and territories. The Gambling IQ report will be submitted to the UK’s Gambling Commission, which is seeking contributions in relation to five areas, one of which is entitled ‘Socially Responsible Incentives.’
Download the full report here:
John F. Russell
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