It isn’t easy assembling a world-class compliance team in the igaming industry.
The demand for compliance expertise has outstripped the number of truly proficient compliance officers at a time when more markets are introducing regulation.
For slots providers looking to capitalise on the opportunities in these recently and soon-to-be regulated markets, there is often simply too much legwork for your compliance team to handle.
As a result, tough strategic decisions must be made. Perhaps you are sacrificing a move into the US so as to focus upon markets in Europe.
Equally, it becomes increasingly difficult, even for mid-to-large sized casino content providers, to stay ahead of the competition in multiple jurisdictions.
If you are a games studio watching the remarkable growth we are seeing in regulated jurisdictions around the world, from New Jersey, to Colombia, to a host of fast-growing European markets, finding solutions to these challenges should be your top priority.
Getting more from your compliance team
Given how tough it is to find and hire top-class compliance officers within the igaming space, it is critical that you optimise the output of your existing team.
This means providing them with the support and tools required to more efficiently do their job.
Complitech is one such tool.
Complitech is the gaming industry’s only product and technical compliance database.
It provides the latest requirements from almost 30 online gaming jurisdictions, and it is designed to simplify and speed up the process of rolling out your products in new markets.
A large share of compliance work is time-intensive and laborious. Complitech serves to smooth these processes and save your compliance officers’ valuable time.
For instance, pulling and translating technical compliance requirements from a new market is now a simple process, enabling users to download the requirements in a range of formats, sorting by product type, requirement type and jurisdiction.
Pro and Premium users of Complitech can go a step further, conducting automated gap analysis, comparing requirements between multiple jurisdictions.
Our research shows that Complitech users enter new regulated jurisdictions 60 percent faster than those pulling requirements manually.
This is a potentially market-defining difference when we are talking about share in newly-regulated jurisdictions.
Finding technical compliance support
As well as tools such as Complitech, there is also scope for casino suppliers to supplement existing compliance teams with outsourced expertise.
The team behind Complitech is Maxima Compliance, the gaming industry’s leading compliance specialists.
The Maxima Compliance 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 has been recognised at the prestigious EGR B2B Awards, where it picked up the ‘Services Rising Star’ title earlier this year.
Maxima Compliance has assembled a world-class team of technical compliance experts, who are ready to support your team.
Outsource to optimise
Some casino suppliers have opted to fully outsource their technical compliance and certification processes to Maxima Compliance.
This comes with a few advantages.
Firstly, it can be an effective cost-saving measure compared to the outlay required to maintain a large, in-house team.
Secondly, it means you have a technical compliance resource on hand which can scale to the needs of your operation. If you are planning an aggressive market-entry strategic for 2021, the resource grows with your requirements.
And then there’s the peace-of-mind that your technical compliance needs are being looked after by the best in the business, while you can focus on what you do best: delivering world-class content to current and future partners.
Complitech can help define your next strategic move
Back to Complitech for a moment.
While we have so far focused on the operational element, this is also a powerful tool for defining your new market strategy.
By using state-of-the-art automated gap analysis, Complitech can very quickly show you logical next steps for your business.
Perhaps you have already invested time and money in ensuring your content is compliant and certified in Sweden.
With a few clicks, Complitech will highlight the scale of the task required to enter other regulated markets, assuming compliance in one.
While the requirements will be different, you may have already done much of the heavy lifting for a new market, and Complitech can quickly help you fill in the gaps and launch ahead of your competition.
The process is seamless.
Evolving the future of technical compliance
Complitech is an always-evolving product.
The Maxima Compliance team is constantly adding new features and functionality, not to mention additional markets. We currently have almost 30 available on the database.
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. As new markets regulate, we will continue to add them to the database.
Consider Complitech a crucial weapon in your armoury. Technical compliance has become a central part of strategic expansion for content suppliers.
More and more of the global online casino market is becoming regulated – this is not a trend that will reverse any time soon.
Now is the time to ensure you grab your market share, and you need to be equipped to do so.