SBC News Voice of the Sports Betting Industry
Regulatory compliance firm BetComply has entered into a partnership with marketplace onboarding provider Binderr.
The collaboration will target the implementation of simplified onboarding procedures across the igaming space, while ensuring that necessary due diligence is met when it comes to the financial services being offered.
Zak Rose, COO of Binderr, highlighted that the company was not initially focused on the iGaming market. However, after communicating with a number of industry shareholders, his team realised that what they’re building as a product can easily cater to a specific demand within the sector.
“Binderr is designed for high-growth, high-regulation environments just like iGaming. By centralising due diligence and making compliance processes smarter and repeatable, we help remove friction from market entry and ongoing operations,” Rose added.
Ensuring full compliance during the onboarding process is a vital tool for companies looking to expand within iGaming, as Mike De Graaf, CCO of BetComply, told SBC News in a recent interview.
This rings especially true when operators look to capitalise on newly-regulated markets and the opportunities these sectors offer, while also deploying long-term strategies like M&A.
“Regulators now hold acquiring companies accountable for inherited failings. Many fines stem from compliance breaches that predated the acquisition. ‘We didn’t know’ is not a valid defence anymore,” De Graaf noted.
M&A is not always a straightforward process, however, as companies looking to venture into uncharted territories by acquiring and onboarding new businesses are inheriting everything, including the problems.
On its new partnership with Binderr and how it simplifies the above, Daniel Brookes, CEO of BetComply, added: “Every time we support a client with licence applications or market entry, we face the same time-consuming, manual due diligence process. Binderr makes things significantly simpler, with everything centralised, reusable and more efficient.
“This isn’t just about saving time; it’s about reducing regulatory risk, improving operational performance and helping our clients scale globally.”
