Trustly taps GeoComply unit to streamline gaming-license applications

May 16, 2024 8:21 PM
  • Mark Keast, CDC Gaming Reports
May 16, 2024 8:21 PM
  • Mark Keast, CDC Gaming Reports

Vancouver-based OneComply, part of GeoComply, has announced that Trustly will be using its technology to streamline Trustly’s licensing process.

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“We were drawn to OneComply, as it provides an automated and centralized solution to simplify the process of filing gaming-license applications,” said Halli Calabrese, Head of Enterprise Risk and Compliance at Trustly, in a statement. “OneComply also assists us in keeping track of license renewals, which helps to manage our license process more efficiently.”

OneComply is a platform that manages compliance and licensing for clients, centralizing and streamlining all the data required to support and protect gaming licenses. When it comes to compliance oversight and licensing management, OneComply works with operators, vendors, suppliers, and service providers to improve their efficiency and security.

Trustly, founded in 2008, is a global leader in Open Banking Systems, linking merchants (8,300 in total) with consumers directly from their online-banking accounts. In 2023, they processed more than $56 billion in transaction volume around the world.

Companies that facilitate transactions for gaming operators must hold the necessary licenses in every jurisdiction where they operate. The objective is to protect consumers against exposure of their financial data, fraud, and money laundering. It’s all about maintaining the integrity of the igaming industry.

There are complicated licensing and compliance challenges for companies like Trustly.

“OneComply recognizes the immense potential of Open Banking in the gaming sector and the need for robust compliance,” said Aaron Gould, GeoComply’s Vice President of Identity and OneComply Co-Founder. “Our deep expertise in the gaming industry paves the way for the success of new entrants into this ecosystem and we’re proud to partner with innovators like Trustly.”