Vixio makes latest addition to regulatory tech mission

Regulatory solutions provider Vixio has added another solution to its product portfolio in a move possibly indicative of the growing demand for assistance amid globally rapidly shifting regulatory backdrops.

The betting sector has seen considerable growth across multiple geographies over the past decade, from the Netherlands and Sweden in Europe, to the repeal of PASPA in the US and the addition of Brazil’s enormous market launch this year.

This leaves operators and suppliers with a lot of different regulatory requirements to navigate, however – the Netherlands has implemented new marketing and player protection requirements, for example, while Brazil is continuing to refine its regime just four months into its market launch.

Companies like Vixio seem to be taking advantage of the gap in the market these regulatory landscapes provide. The firm’s new product, Vixio Workspace, is a regulatory management tool targeted towards compliance professionals.

“After two decades of providing comprehensive regulatory intelligence, we’re excited to add to Vixio’s core offering by turning that intelligence into action,” Mike Woolfrey, CEO of Vixio, said.

The company adds that managing actions around regulatory change is the core service on offer via Vixio Workspace, citing a need to improve efficiency.

Supporting its claims, the firm states that the average compliance professional spends 70% of their time on administrative tasks rather than strategic guidance, with this figure rising to 95% among certain professionals.

The product’s features include regulatory intelligence, checklists, a real-time dashboard, task management, real-time data, a chat function, user management, an audit trial, and easy file uploading abilities.

Woolfrey added: “We’ve spent hours listening to our customers’ compliance challenges and designed Vixio Workspace so that users can see global regulatory updates, track their progress to implementation, and document everything for easier attestation, rather than using siloed systems that can slow that process down.

“With Vixio Workspace, complexity in compliance doesn’t have to mean complicated.”

The addition of the product forms part of Vixio’s wider approach of meeting regulatory challenges with technology, something the firm’s Chief Analyst and VP of Americas, James Kilsby, discussed during SBC Digital Day event earlier this year.