New Year, New Markets.
Paddy Mann, Business Development Director at OMEGA Systems.
At OMEGA Systems, our clients are continuously expanding into new regulated markets. When an operator decides to enter a newly regulated market, there is invariably custom development required for jurisdictional compliance in the areas of responsible gaming, AML, data protection and more; it is our job at OMEGA Systems to deliver required solutions according to local rules and regulations.
In the last few months we have supported clients entering jurisdictions such as Hungary, North Macedonia, Argentina and we are currently working with prospective entrants to jurisdictions such as the Netherlands, Columbia, Nigeria and South Africa to name just a few.
Looking at Hungary as an example, we have implemented a completely new Responsible Gaming framework, integrated the KEKKH Public Services Self exclusion API as well as integrating with the National Land-based casino card registry. All of this was completed in a timely fashion allowing our client to proceed with regulatory approval on target.
Another example is North Macedonia where we commenced integration for the requirements set out by the Ministry of Finance in August. The challenge for North Macedonia was integrating the KIPS Identity National ID Verification API, several local payment service providers and developing a reporting framework compliant with the requirements of the Ministry of Finance. The timely delivery of these items ensured that our client was able to launch on schedule and ensure regulatory compliance out of the box.
Among the most significant headlines of last year’s online gaming news was the advent of online regulation in Argentina, specifically in the province and city of Buenos Aires. The requirements set out by the regulator, LOTBA, are extremely comprehensive. For this market we had to support real-time interaction with the provincial problem gambling registrar, SIRA, integrating with the National Persons Registry, RENAPER, implementing withholding tax and detailed reporting requirements.
As a company focused on providing platform software to our clients in regulated markets, the OMEGA solution team is an agile and adaptable partner, allowing in this case our client to launch in Buenos Aires in Q1 of this year. It really showcases our ability to understand the requirements demanded by regulatory bodies and execute on them in a timely fashion, regardless of changes and modifications required, sometimes at the last minute.
Like most, we are glad to see the back of 2020 and now look forward to 2021. We are excited for our partners and their expansion into new markets. The fact that every regulator has different requirements is both challenging and rewarding, once completed. From my end, having a universal regulatory framework with small bespoke development for specific jurisdictions would make life a lot easier for everyone involved but alas, this is the state of play.
Beyond that, we also have our clients live with our own in-house risk analysis tool called MARS as well as CHRONOS, our player reward and engagement tool. As always, we are constantly improving our platform software regardless of new market entries. The future is bright at OMEGA Systems. If you want to expand into a new market; if you want a comprehensive platform software partner to achieve this, then we are certainly your partner of choice.