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Type: PDF   I  Words: 30,000   I  February 2024   I Region: Global             I   ID: CR.M02/2024                                       

 

Global Opportunity Analysis and Industry Forecast: How data-driven Open Banking and innovative payments engines are shaping legislative change through responsible iGaming trends. 

 

Gambling IQ, a pioneering provider of strategic business insights, regulatory guidance and B2B sales excellence to the gambling & gaming sector, explores how outdated and inaccurate approaches to credit scoring are harmful to both gambling operators & players. The London-based think tank publishes the top ten Open Banking enabled payments engines within the global betting industry, unveiling the companies leading the way in relation to accelerating onboarding; AML, fraud prevention and staying compliant; innovation leadership; secure account set up; responsible gambling measures; conversion rates; and instant pay-ins & payouts. 

 

Report Highlights

 

  • New data from Plaid & PokerStars offers a panoramic view of Open Banking's impact  
  • Paysafe/Skrill & MiFINITY enter Top 5 in the vendor rankings
  • GBG’s Rebekah Jackson on the financial risk checks balancing act
  • Trustly’s 1.2 billion data point engine - ‘Pay N Play’ UK launch
  • A special report on problem gambling and loans
  • Exclusive insight from TrueLayer’s VP of iGaming Roberto Villiani
  • Spotlight on developments in South-East Asia with Brankas
  • TransUnion & Bud on the Responsible Gambling Trend
  • Exclusive: GamCare, Gamesys & the 'Safer' Gambling Standard
  • Fintech unicorn GoCardless enters the iGaming Market
  • We hear from legal expert Chris Elliott from Wiggin LLC
  • Las Vegas outfit Sightline eyes up UK market in Q2 
  • Gambling Block Technology - an update on key US States

 

Report Overview

 

In a seminal report entitled, ‘The New Payments Engines: How data-driven Open Banking and innovative payments companies are shaping legislative change through responsible iGaming trends’, analysts reveal the trailblazing Open Banking enabled payments engines driving secure and transformative change across the sector.

 

The latest Gambling IQ report outlines how outdated and inaccurate approaches to credit scoring are harmful to both gambling operators & players. It features thought-leadership and analysis in relation to the UK's 2005 Gambling Act reform; spotlights legislative changes in South East Asia; and discusses relevant opportunities for Open Banking vendors and gambling operators in the USA. 

 

Thought Leaders & Exclusive Industry Insights 

 

In this edition, Gambling IQ reveals a sustained focus on Open Banking growth from the likes of Plaid and Pokerstars, who reveal the amount of transations and deposit approval rates in their new partnership; to industry veteran Rebekah Jackson from GBG plc revealing proof-of-concept 'Financial Risk' testing with customers & the UK Gambling Commission; GoCardless enters the iGaming market; Truelayer and its upcoiming version of the 2.0 SignUp+ tech stack; and exclusive interviews with Trustly, MiFINITY; with a spotlight on South East Asia with Brankas. 

 

The Responsible Gambling Trend 

 

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 AML breaches, data-driven open banking emerges as a powerful tool empowering gambling entities to precisely identify and support players at risk of harm. The Gambling IQ team delves into the companies positioned for exponential growth at the onset of a new era, where iGaming operators can access an accurate single view of players’ affordability and their financial situation on the basis of bank records, income, and other consented data.

 

PIS & AIS Merge to Create the New Payments Engines 

 

The top-ranked Open Banking payments engines are 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.

 

Top 10 Vendors

 

The vendor market for Open Banking enabled payments is becoming crowded, with both global and regional solutions available. Finding differentiation among vendors is challenging. Operators can follow the Gambling IQ structured approach to define their business drivers, use cases and roadmaps. We name and rank the top Digital identity providers for the gambling industry, giving online and offline Operators unique legal, financial and data insights that count.

 

Government Submission 

 

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.' The Commission is consulting on changes to the section of the Licence Conditions and Codes of Practice (LCCP) that covers rewards and bonuses to make it explicit that incentives should be constructed in a manner that does not lead to excessive or harmful gambling.

 

A second area relates to 'Customer-led Tools' and how meaningful account limits can be kept. Importantly, this concerns proposed changes to the Remote Gambling and Software Technical Standards (RTS) to ensure that consumers who want to make use of pre-commitment tools such as deposit limits can do so easily, in ways that work for them and with the minimum of friction.

The New Payments Engines: Open Banking & Responsible Gambling Trends

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  • Companies featured in the report:

    • Akoya
    • Alphabet
    • Ascent
    • Bally's
    • Bankable
    • Bankfi
    • Bankin
    • Banksapi
    • Bankware
    • Basiq
    • Belvo
    • Bizcuit
    • Blink
    • Bottomline
    • Bragg Group
    • Brankas
    • Brick
    • Brite
    • Bud
    • Cobase
    • Codat
    • Coinbase
    • Crosskey
    • Direct D
    • Ecospend
    • Enfuce
    • Entain
    • Finastra
    • Flutter
    • Gamstop
    • Gamcare
    • Gamesys
    • GBG Plc
    • GoCardless
    • Inverite
    • I2c
    • Kevin
    • Klarna
    • Luxhub
    • MGM Resorts
    • MiFINITY
    • Modulr
    • MoneyHub
    • Monzo
    • GoCardless
    • Oasis
    • Okra
    • OneSpan
    • OpenBet
    • Ping
    • Plaid
    • Praxis Tech
    • Quanto
    • Revolut
    • Saltedge
    • Sightline
    • Skrill
    • SlimPay
    • Sofort
    • Stitch
    • Stripe
    • Tencent
    • Tide 
    • Tiger Global 
    • Tink 
    • Token 
    • Toucan
    • TransUnion
    • Treezor
    • Trilo
    • TrueLayer
    • Trustly
    • Wiggin
    • Volt
    • Wipro
    • WorldPay
    • Yapily
    • Yodlee
    • Zimpler

     

    Segment by Application

    • Open Banking 
    • Open Finance 
    • A2A Payments 
    • Onboarding 
    • KYC & AML 
    • Anti Fraud in Gaming
    • Online Casino Gambling
    • Sports Betting 
    • Responsible Gambling
    • ID Software
    • Age Verification
    • Financial Risk
    • Gambling Services
    • Retail & Ecommerce
    • Tele & Gaming
    • Gambling Industry
    • iGaming
    • Age Verification
    • Land-based Gambling
    • BFSI