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European Gaming Congress 2024

Press Release

iDenfy’s ID verification creates a frictionless KYC flow for SoftGenius

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Kaunas, Lithuania (November 16, 2023) — iDenfy, a global RegTech startup best known for its ID verification and fraud prevention tool hub, announced a new partnership with SoftGenius, a software development company specializing in crafting premier iGaming solutions. iDenfy’s identity verification and AML solutions will assist in the screening and onboarding process of SoftGenius’s expanding customer base.

Know Your Customer (KYC) is a legal requirement in the online entertainment and iGaming sphere for various reasons, including age verification, checking the validity of ID documents, and identifying potential risk factors, such as financial affordability concerns or issues related to gambling. According to iDenfy, online gaming operators and product developers must fill these trust and safety requirements while focusing on user experience and compliance in mind.

iDenfy, a leading name in the RegTech space, emphasizes the significance of online gaming operators and product developers meeting these trust and safety requirements. iDenfy claims that iGaming enterprises and their developers must understand the importance of balancing user experience and regulatory compliance. As claimed by iDenfy, this is extremely important. With the global market for online gaming surging to a staggering $26.14 billion in revenue in 2023, as reported by Statista, the competition has never been more intense.

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SoftGenius recognizes that ID verification serves a dual purpose – it’s not just a legal requirement but also an essential instrument for combating fraud and fostering trust, a critical aspect within the realm of iGaming. SoftGenius’ team believes that its product development process always has room for improvement in all aspects, including well-established functionalities and security features, so they wanted to implement a new KYC solution that could add an extra layer of security.

Currently, SoftGenius is working on building a new generation of entertainment and gaming, providing well-executed development services for online casinos and sports betting platforms. With founders and team members boasting over a decade of experience working within and alongside some of the largest iGaming companies globally, they possess a profound understanding of the whole industry.

According to iDenfy, many internal compliance teams and KYC agents constantly face a substantial volume of documents, resulting in drop-offs and a less optimal user experience. For this reason, according to KYC professionals, manual identity verification processes can’t offer the same level of user experience as AI-powered software. SoftGenius agrees with this approach, which made the company initiate a quest for an automated identity verification solution. Their goal is to streamline the verification process and elevate the overall user experience for their clients.

In addition to the ID verification solution, SoftGenius integrated iDenfy’s AML Screening tool. This new tool empowers the software development company to conduct automated Anti-Money Laundering (AML) checks, significantly reducing the time spent cross-referencing different databases and lists to verify that the customer poses no risks to the gaming operator. iDenfy’s solution automatically scans Politically Exposed Persons (PEPs) lists, sanctions lists, and global watchlists. This proactive approach enables SoftGenius to ensure secure user journeys, minimize risks, and expedite the verification of trusted customers, all without adding unnecessary complications to the KYC process.

It’s worth noting that iDenfy’s ability to deliver transparent and comprehensible information during our initial conversation stage left a strong impression on the SoftGenius team. This was instrumental in deepening the company’s understanding of iDeny’s identity verification and AML Screening tools and how they could enhance its operations. For this reason, the blend of clear communication, alignment with SoftGenius’ budget, and outstanding collaboration made iDenfy the perfect choice for fulfilling its KYC requirements.

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“The combination of iDenfy’s ID verification and AML tools is what made a starting point for our automated fraud prevention strategy. We’re excited about this partnership, which helps us enhance security and ensure compliance in the iGaming industry,” — said Kati Holasz, the CTO of SoftGenius.

“Our goal is to help partners take a risk-based approach to fraud management and simultaneously deliver an exceptional customer experience. This is exactly what we’ll be doing together with SoftGenius,” — added Domantas Ciulde, the CEO of iDenfy.

 

About iDenfy  

iDenfy is a RegTech startup that provides AML, KYC, and KYB compliance solutions to businesses of all sizes. The company has been recognized as a leading identity verification software in G2’s Summer 2023 report. iDenfy has also won the “Enabler of the Year” category at the Lithuanian Fintech 2023 awards.

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For more information and business inquiries, please visit www.idenfy.com.

Affiliate Industry

MightyTips and Marathonbet collaborate on a new partnership deal to conquer the Brazilian market

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Affiliate website MightyTips and betting platform Marathonbet are entering into a new partnership that covers the Brazilian market to dominate the booming iGaming scene.

This strategic partnership will help Marathonbet to skyrocket its presence in the giant South American country with a population of over 215 million, boosting acquisition numbers in an increasingly competitive market.

A recent report by SOFTSWISS estimated that Brazilians participating in sports betting-related activity and online casinos in 2022 exceeded 46%.

The report also suggested the sports betting market in Brazil is significantly larger than that of online casinos. It is with these figures in mind that Marathonbet will seek to capitalise on.

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Launched in 1997, Marathonbet has a rock-solid reputation and primarily operates under a licence issued by the Government of Curaçao. It was one of the first sportsbooks to launch an online betting service back in 2002.

Its brand is associated with some of the biggest names in football thanks to a deep-rooted commitment to the sport. In the past ten years, it has sponsored the likes of Real Madrid, Manchester United, Sevilla, and Lazio.

Eugene Ravdin, MightyTips Communications and Marketing Manager said: “Marathonbet is one of the biggest names in betting. Its long and storied evolution from the beginning of iGaming is incredible and we can’t wait to work alongside them.”

A Marathonbet spokesperson said: “We are pleased to announce the beginning of a long and fruitful cooperation with MightyTips. We are sure this will bring us and the players only positive emotions, and we wish all the players good luck and many victories.”

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EGR North America Awards 2024

High 5 Casino Wins Social Gaming Operator of the Year for Second Consecutive Year

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High 5 Casino is thrilled to announce its consecutive win as Social Gaming Operator of the Year at the EGR North America Awards 2024. This prestigious award reaffirms High 5 Casino’s exceptional performance and innovation in the social gaming sector.

“We’re honored that High 5 Casino has once again received the Social Gaming Operator award,” said Tony Singer, CEO of High 5 Games. “Beyond our growth in users, it’s the happiness our players find in the H5C community that motivates us to continually improve. Our commitment is to provide players with top-notch casino content, and we’re determined to solidify H5C as the leading social casino brand worldwide.”

An independent panel of judges selected High 5 Casino for its outstanding performance and innovation over the past year. The award recognizes High 5 Casino’s notable commercial success and community-building efforts in the social gaming market.

“The recognition from EGR North America Awards is a testament to our team’s dedication and the support of our players,” added Tony Singer. “We are excited to continue pushing boundaries in social gaming and delivering unforgettable experiences to our community.”

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The winners were announced on June 27 at an awards ceremony held at Midtown Loft & Terrace in New York City. High 5 Casino secured the Social Gaming Operator of the Year award due to its outstanding product quality, revenue growth, and leadership in innovation across product differentiation, marketing, and technology.

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eSports

LEON Kicks Off Dota 2 Tournament – LEON Masters #1

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LEON is excited to announce the launch of its first-ever Dota 2 tournament, called LEON Masters #1. The event, organized with the support of GAM3RS_X, kicks off on June 10, 2024, and runs until July 28, 2024, featuring top teams from across Europe and CIS. The total prize pool is an impressive $100,000.

LEON Masters #1 is a thrilling online event structured in three main phases:

  • Group Stage #1 (June 10 – June 23, 2024): 16 teams will be split into two groups of 6 teams each. All matches will be played in a Bo2 (Best of 2) format. Group winners advance directly to the semifinals, teams placed 2nd to 5th move to the next group stage, and the last-placed teams are eliminated.
  • Group Stage #2 (July 15 – July 24, 2024): Teams are re-divided into two groups of 6 teams each. Matches remain in Bo2 format. The top two teams from each group will proceed to the quarterfinals, while the others are eliminated.
  • Playoffs (July 26 – July 28, 2024): The final stage will feature a single-elimination bracket, with all matches played in a Bo3 (Best of 3) format.

The prize pool distribution is as follows:

  • 1st place: $50,000
  • 2nd place: $25,000
  • 3rd-4th place: $12,500 each

Stay tuned for announcements and updates on our official channels. The first series of matches has already begun, including Twisted Minds vs. Kalmychata, L1GA TEAM vs. PSG Quest, and MOUZ vs. JustBetter. Full schedule and results will be available on the tournament’s website.

The post LEON Kicks Off Dota 2 Tournament – LEON Masters #1 appeared first on European Gaming Industry News.

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