Entering new regulated markets is never easy for casino suppliers. Slots and tables games must meet strict technical compliance requirements which differ from jurisdiction to jurisdiction.
Pulling, translating, analysing and meeting these requirements is a time-consuming, labour intensive process which can tie up your compliance officers for months.
Enter Complitech, a new way to streamline and optimise your entry into lucrative new regulated new markets across Europe and beyond.
What is Complitech?
Complitech is the gaming industry’s only product and technical compliance database.
It provides the latest requirements from more than 40 online gaming jurisdictions with the aim of simplifying and speeding up the process of rolling out products in new markets.
Users can instantly pull information from the database in a range of formats, sorting by product type, requirement type and jurisdiction.
Pro and Premium users can also conduct automated gap analysis, comparing requirements between multiple jurisdictions.
Who is behind Complitech?
Complitech is brought to you by the team behind Maxima Compliance Europe Ltd., the gaming industry’s leading compliance specialists.
The Maxima Compliance Europe Ltd. team works across regulatory and technical compliance, assisting many of the sector’s most successful operators and suppliers. The company is headquartered in London, with operational hubs in North Wales and Barcelona.
Maxima Compliance Europe Ltd. has been recognised at the prestigious EGR B2B Awards, where it picked up the ‘Services Rising Star’ title earlier this year.
Using Complitech to enter new markets
With more online gaming jurisdictions regulating, deciding which are the best fit for your products is a critical strategic decision.
Sometimes the intuitive answer is not always the right one. The temptation to chase promised riches in exciting new jurisdictions – such as newly-regulating US states – can outweigh more sensible, but perhaps less glamorous, alternatives.
The international gaming landscape is a very different place to what it was even just ten years ago. No longer is it as simple as securing a Malta licence and chasing the money.
Instead, online gaming jurisdictions are erecting high barriers for entry, and nowhere is this more prominent than in technical compliance requirements.
Meeting these requirements in highly regulated markets can be a significant challenge, so finding a way to reduce the burden and parlay previously-done work when identifying a new target jurisdiction has never been more important.
Easing the burden on your compliance team
We know hiring compliance staffers is difficult and costly. There is a chronic shortage of expertise in this field, and the leading casino suppliers are all competing within this same pool of talent.
Complitech helps ease the burden on your existing compliance function, meaning they can deliver more rapidly.
By our estimates, Complitech users enter new regulated jurisdictions 60 percent faster than those who attempt similar market entries alone. And that’s before even considering the significant cost savings.
Gaining a competitive edge with Complitech
Complitech will get you to market faster than your competitors by automating much of your compliance team’s gap analysis work.
Gap analysis is nothing new, and performing comparative studies of your business’ capabilities and requirements is a vital part of the growth process.
But it is often tedious and time-consuming labour, that involves pulling and translating hundreds of requirements from multiple sources.
Complitech solves this problem by collecting all this information in one place, translating it all into English, and providing you with the tools to analyse and cross-check.
Using Complitech to explore a new market
Take the example of one of Europe’s most established regulated markets, Denmark, and another which looks set to join it shortly by implementing its own regulatory framework, the Netherlands.
Slots suppliers that have committed significant resources to ensuring their products meet the technical compliance requirements of Denmark – a high bar by anyone’s standards – will need to be watching the Netherlands closely.
While the requirements will be different, much of the heavy lifting is likely to have already been achieved by those certified to provide games in Denmark, with what appears to be an initial ‘Denmark + ’ approach to the Dutch market.
Conducting a thorough gap analysis between the markets is the ideal way to enter the Netherlands when the time comes.
This provides a great advantage for those suppliers live in Denmark who are eyeing up the Netherlands. With intelligent use of gap analysis, you are not only gaining additional value from the work already done in Denmark, but you are also getting a headstart against competitors.
And best of all, the process is seamless with Complitech.
Complitech is not a static product.
We are constantly adding new features and functionality, not to mention additional markets. And all existing markets are kept up-to-date, so you never miss a change. Just set up a simple alert and we will keep you in the loop.
Just this summer, we added access to change management and information security requirements across all markets where these are available. We also recently added compliance requirements for gaming platforms.
And on top of the new functionality, Complitech’s market coverage has been expanded to include four new jurisdictions: New Jersey, Belarus, Latvia and Panama.
As new markets regulate, we will continue to add them to the database.
The future of technical compliance
Beating your competition on technical compliance is going to be central when it comes to grabbing market share in regulated markets over the coming years.
More and more of the global online casino market is becoming regulated – this is not a trend that will reverse any time soon.
Those who want to achieve a competitive advantage need to beat rivals on compliance.
Look at a US state like New Jersey – one of the world’s fastest growing regulated online casino jurisdictions.
Because of high technical compliance requirements, it is serviced by fewer than 40 content suppliers, compared to some 200 in the UK.
Clearly, those suppliers with the expertise and technical compliance support have a huge advantage over those who have not optimised their compliance function and are not yet live in the market.
New Jersey is a single state, but it is a story set to be repeated across the world over the coming months.
And with Complitech, your compliance team – and your entire business – will be better positioned to take full advantage.