Industry-specific, compliance software ‘SafeComply’ will launch this 2019, seeking to help industry stakeholders meet new compliance requirements and standards.
The new software incumbent is founded by former Betsson AB Group Counsel Abby Rachel Cosgrave, who states that in 2019 industry operators will have to adjust to new compliance demands set across multiple jurisdictions.
Cosgrave warns leadership, that the stakes are high when trying to put compliance under control.
“Recent and increasing enforcement mean that operators are now dedicating the necessary resources to compliance and rightly so. A lot of operators make the mistake of focusing on technologies which claim to harness AI and self-learning technology to meet compliance obligations without realising that there is quite simply no “off the shelf” technology that can achieve the obligations required of operators.”
Seeking to develop a fresh approach to compliance, SafeComply has developed SafeGuard, a technology which will ‘centralised player due-diligence records, helping operators cross-reference with their AML and RG obligations across all territories.
Furthermore, helping compliance and customer service teams, SafeGuard implements decision making workflows, providing easy one-touch ‘suspicious transaction reporting’ across stipulated jurisdictions.
“Our initial plan is quality over quantity in relation to how many operators we can partner with and we are therefore carefully selecting operators wishing to work with SafeComply for the long term. We aim to supplement and solidify the AML and RG processes in our partner companies”