Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Synalogik raises £3m in Series A Funding round led by former Tesco CEO Sir Terry Leahy and Bill Currie

Published

on

Reading Time: 3 minutes

 

Investment will enable the company to further enhance its Scout® aggregation and reporting platform that allows operators to streamline AML and affordability checks

Synalogik, the company whose Scout® data aggregation and reporting platform allows online gambling operators to streamline customer profiling checks for AML and affordability for improved compliance, has raised more than £3m in a Series A funding round.

The funding round was led by high-profile investors Bill Currie, founder of retail, e-commerce, and tech investment fund, the William Currie Group, and Sir Terry Leahy, former CEO of Tesco. Gambling Industry heavyweight Mark Blandford also increased his existing stake in the company.

Advertisement

Synalogik will use the capital raised to scale its Scout® solution across different markets and territories and to expedite the launch of additional solutions that have been in development over the past 18 months. These solutions will widen the application of its data aggregation, risk identification, and decision intelligence capabilities.

The company, which provides its Scout® solution to tier one operators including Entain and Betway, will also invest in its people, research and development with plans to double the size of its engineering team and enhance its dedicated customer support department over the coming months.

Synalogik was founded by a group of former police officers, barristers, and members of the intelligence community who were frustrated by the inefficiency of manually aggregating data from disparate sources.

Synalogik’s solution, Scout®, is a unique platform that enables organizations to automate data aggregation from multiple disparate sources, identify risk, and report findings in seconds.  Scout® supports users with regulatory compliance, affordability, anti-money laundering, and fraud investigation.

The solution quickly became the most efficient way for compliance teams within the gambling sector to carry out player profile checks for AML and affordability as part of wider compliance processes, saving up to 85% of their time.

Advertisement

Gareth Mussell, CEO at Synalogik, said: “The data landscape is exploding, organizations have unprecedented opportunities to make intelligent decisions based upon the data within their eco-system or immediately available to them.  Organizations are struggling to harness these opportunities and often rely on manual processes to aggregate data – this is simply not scalable.”

“In 2021, a total of £32.1million was paid by 15 gambling businesses as a result of fines or regulatory settlements – more than any previous year – and with regulations becoming increasingly stringent, the burden and cost of compliance will only continue to increase for gambling operators using manual processes.”

“Scout® has been developed to overcome these challenges and it’s great to see that the potential for the business and our growing suite of solutions has been recognized by high profile investors such as Sir Terry Leahy, Bill Currie, and Mark Blandford.

“Closing this Series A funding round allows us to rapidly scale up our capabilities, increase our headcount and bring new and exciting products to market that will allow us to better serve existing and new clients.”

Bill Currie said “Synalogik displayed real vision in their plans for utilizing data aggregation and enabling businesses to get access and assess data more cost-effectively, we believe we are investing in a really exciting company”

Advertisement

Mark Blandford, investor in Synalogik, added: “Compliance is now the number one priority for operators in regulated markets such as the UK and in Synalogik and Scout® they have the best team and solution to streamline Know Your Customer (KYC), Enhanced Due Diligence (EDD) and affordability checks.”

“Not only that, but Scout® allows them to maximize efficiency, make decisions faster, increase retention and improve analyst decisions.”

Sir Terry Leahy, added: “The threat from money laundering and fraud to public and private organizations is very significant and growing. Businesses are struggling to meet compliance standards and need better solutions like the Scout product from Synalogik which transforms the speed of data aggregation and analysis of risk.”

Continue Reading
Advertisement

Latest News

SIS and Premier Greyhound Racing reveal improved greyhound race time schedule

Published

on

sis-and-premier-greyhound-racing-reveal-improved-greyhound-race-time-schedule
Reading Time: 2 minutes

Sports Information Services (SIS), the leading multi-content supplier of 24/7 live betting services, and Premier Greyhound Racing (PGR), the media rights company supplier of greyhound racing to the betting industry and direct to viewers, have collaborated to offer a revised race time schedule starting from 20 May.

Designed to protect the long-term future of UK greyhound racing, the new schedule will see morning fixtures start slightly later – moving from 10.47 to 11.01 and 10.54 to 11.09. Additionally, there will also be a slightly later start time for some evening fixtures aimed at a retail audience, with the first evening fixture now starting at 18.08.

Commenting on the improved schedule, Terry Mahoney, Head of Business Development at ARC, said: “The new race times will help make it easier for customers to navigate busy racing schedules as well as improving operations trackside. We will continue to listen, monitor, and adapt schedules where and when needed as we move forward to deliver the best service possible for betting operators as well as punters.”

Paul Witten, Managing Director at SIS, added: “We are passionate about delivering a greyhound racing service that benefits all of the sport’s stakeholders. Together with Premier Greyhound Raxing, we have introduced a revised racing schedule that benefits operators and their customers.

Advertisement

“Our approach to greyhound racing is grounded in sustainability and flexibility. This collaboration with fellow service providers allows everyone to enjoy all the high-quality action produced on a daily basis from tracks across the UK and Ireland.”

SIS has long-term agreements in place with bet365, William Hill, Paddy Power and Betfred to deliver its greyhound content across UK and Irish retail and digital channels. SIS also promotes this content across dozens of leading international operators, as well as through SISRacing.tv.

PGR offers greyhound action, cards, video replays, results, news and info on greyhounds.attheraces.com, and regular live broadcasts on Sky Sports Racing. Premier Greyhound Racing is a joint venture between Arena Racing (ARC) and Entain, the global sports betting, gaming and interactive entertainment group. Between them, the two companies own nine of the 20 licensed British greyhound tracks and ARC manage the media rights for five independent tracks.

The post SIS and Premier Greyhound Racing reveal improved greyhound race time schedule appeared first on European Gaming Industry News.

Advertisement
Continue Reading

Latest News

The Importance of Data Quality Review Checks in the Gaming Industry

Published

on

the-importance-of-data-quality-review-checks-in-the-gaming-industry
Reading Time: 3 minutes

 

By Lorenzo Nardini, Head of Technical Compliance and Maths Services

In the dynamic world of online gaming, data plays a pivotal role. Databases containing personal and financial information, often referred to as “Safe” databases, serve as the backbone of any gaming platform.

In this short article, I focus on control databases (CDBs) – that is how Safe databases are referred to in the Dutch landscape – and why it is important to ensure their completeness, accuracy, and consistency through continuous data quality review. In any case, the topics here covered apply to most regulated markets.

Advertisement

Control databases contain critical information related to player accounts, financial transactions, game rules, and security protocols. Essentially, they ensure the smooth functioning of the entire gaming ecosystem. It is no wonder that the Dutch regulator (KSA) enforces specific technical regulations on them and often perform audits on these systems that can result also in fines in cases errors are detected.

Data quality review checks

Data quality review checks play a pivotal role in maintaining the integrity of control databases, ensuring continuous compliance. Here are some key reasons why they are essential:

  1. Accuracy and Consistency: Control databases handle vast amounts of data, including player profiles, game logs, and financial records. Ensuring accurate and consistent data is crucial for fair gameplay, financial transparency, and regulatory compliance.
  2. Player Experience: Imagine a player losing progress due to a database glitch or loss of connectivity. Such incidents can lead to frustration and loss of trust. Data quality checks ensure that the control database is correctly functional, and the information therein contained can be used to handle such incomplete games, enhancing the overall player experience.
  3. Regulatory Compliance: Gaming companies must adhere to strict regulations regarding data privacy, security, and fairness. Regular reviews ensure compliance with industry standards and legal requirements.

Most importantly, regular reviews can help gaming companies reducing the risk of an unsuccessful audit that could typically lead to a fine and negative PR.

Ideally, data quality reviews should be ongoing. Real-time monitoring is crucial for identifying issues promptly. Additionally, scheduled audits—monthly or quarterly—help catch any long-term discrepancies or trends.

Key areas of data quality reviews

Advertisement

When performing checks on the quality of CDBs, the following are the main areas to consider:

  1. Data Completeness: Ensure that all necessary fields are populated correctly. Missing or incomplete data can lead to errors downstream.
  2. Data Accuracy: Cross-check data against reliable sources. For example, player balances should match financial records.
  3. Data Consistency: Verify consistency across different databases and systems. Inconsistencies can cause confusion and operational inefficiencies.

Starting from the specific Dutch case and then expanding to other markets, here at ComplianceOne Group we have developed a data quality review service using our experience in dealing with this form of analysis. Leveraging feedback obtained directly from regulators, we created a testing procedure that performs the following:

  1. Tests on triggering reports from staging environment. We access the client’s staging environment with test accounts and perform actions that are aimed at triggering specific reports in the control database. We then check that these have been correctly generated and that they contain all necessary information, checking their accuracy against the back-office.
  2. Data quality tests on production environment. We download a large number of reports directly from production and run a battery of tests that we have designed and that is tailored specifically at checking completeness and consistency of the information contained in the control database.

All findings are promptly reported to the client and, if needed, we can assist with solving any issues found.

Conclusion

When I started being exposed to control databases, I understood that for many this is a very technical area and that maintaining this environment functioning correctly can be quite cumbersome. Nevertheless, a commitment to data quality is a necessary for ensuring continuous compliance of gaming platforms. If you are interested in running regular data quality reviews, or even just a one-time overall check, contact me and I will be happy to assist!

 

The post The Importance of Data Quality Review Checks in the Gaming Industry appeared first on European Gaming Industry News.

Advertisement
Continue Reading

Latest News

7777 gaming signs a strategic iLottery content deal with Scientific Games

Published

on

7777-gaming-signs-a-strategic-ilottery-content-deal-with-scientific-games
Reading Time: 2 minutes

 

7777 gaming, a leading provider of digital gaming solutions, has announced a significant strategic partnership with Scientific Games a global leader in retail and digital lottery games, technology, analytics and services, to deliver digital lottery games through the SG Content Hub Partner Program.

The SG Content Hub Partner Program is a unique platform and game content partnership program featuring an expanding, highly curated selection of iLottery games from best-in-class, game studios worldwide in a variety of play styles appealing to all player types in multiple languages, as well as access to select licensed properties from the largest licensed brands portfolio in the lottery industry. Scientific Games currently serves 150 lotteries in 50 countries.

 

Advertisement

Elena Shaterova, Chief Commercial Officer at 7777 gaming, expressed enthusiasm about the partnership: “Partnering with Scientific Games represents a significant milestone for 7777 gaming, solidifying our position as a global leader in digital lottery solutions. Through this collaboration, we are poised to deliver unparalleled gaming experiences to players worldwide, driving innovation and growth in the lottery industry.”

 

Steve Hickson, VP of Digital Games at Scientific Games commented: “We are delighted to welcome yet another top-class lottery game studio to the SG Content Hub Partner Program. The addition of 7777 gaming and their fantastic games aligns perfectly with our goal to make a variety of digital lottery content available to existing and new Scientific Games customers. Our SG Content Hub Partner Program is developing at pace as we continue to provide our customers with frictionless access to the very best content in the industry.”

The SG Content Hub Partner Program offers a one-stop solution for accessing multiple iLottery game studios, seamlessly integrating with a lottery’s existing gaming systems and iLottery technology. It streamlines operations, simplifies tech integrations, and enhances data analytics to drive game development and iLottery portfolio management.

7777 gaming is renowned for its ability to deliver high-quality iLottery games tailored to the unique requirements of different lotteries. The company ensures that its game content meets stringent government regulations and operators’ expectations for customization. With custom-made lottery concepts, 7777 gaming guarantees enhanced player satisfaction and fosters a deeper sense of connection and loyalty to the brand.

Advertisement

 

The post 7777 gaming signs a strategic iLottery content deal with Scientific Games appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Offering comprehensive coverage on all aspects of the gaming sector, our daily posts include online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Gaming News Room is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania