There are a lot of different compliance software options on the market, which can be confusing. Most are niche concepts doing something new, which needs to be explained to the operator. If you’re just trying to run a successful and legitimate online operation and perhaps aren’t clued up on the confusing jargon of the tech world, you might find yourself with software that doesn’t meet your needs or doesn’t do what it was advertised to do.
So, what should operators want from their compliance software? We break down the key elements here.
Why is player protection important to an operator?
Player protection is a concept that not only protects the player but also the business. By keeping players coming back for more at a more sustainable rate, you can ensure customer satisfaction and loyal returning revenue. However, if your players overdo it on the slots or tables and burn out, they’ll either leave or continue to play into risky or dangerous territory.
GameScanner is a software that will ensure your customers don’t get to that point. The player protection software creates and tracks a profile of your customers, flagging up any issues that might turn into something more substantial in the future. By addressing the problem early and individualised to the specific customer’s gambling behaviour, you can better protect your customers, and your reputation as an operator, and allow flagged customers to address their habits and seek help if necessary.
Expert Knowledge
Beyond all the tech advancements, the best feature of any compliance software is the minds behind it. Combining human and artificial intelligence, GameScanner was created by a gathering of great minds, including neuroscientists, addiction experts, researchers, and psychologists. Using neuroscience to analyse players’ behaviours and create a solution that automates the creation of a detailed player profile through GameScanner’s algorithm’s learning to weight different indicators of normal as well as addictive behaviour. The algorithm continuously monitors and profiles players automatically and operates 24/7.
GameScanner is based on the concept of Explainable AI, as we truly believe in the importance that everybody using GameScanner partly or fully should completely understand its outcome and analysis. GameScanner is built on a combination of neuroscientific and human expert insights, and constantly providing an algorithm that with a human touch can accurately assess several thousand, hundred thousand or even millions of gambling patterns in any given customer database. In addition, it can point to factors in its decision-making support to RG professionals, explaining its choices in flagging up player habits. In essence, GameScanner functions as a kind of virtual psychologist, identifying at least 87% of problem gambling cases that human experts would detect. This capability has been tested and validated by Gaming Laboratories International (GLI).
Automation
To create an individual profile of a player’s gambling behaviour manually at the same level as GameScanner would take a great deal of time and effort. Typically 10-20 minutes per Active Player, which makes this task impossible even with the smallest customer databases.Time and effort that GameScanner’s AI-based compliance software can take off your hands. It is continuously assessing every individual player and keeping their player profiles updated with the latest analysis and signifiers. Monitoring automatically occurs 24 hours a day, 7 days a week, 365 days a year.
Additionally, operators won’t have to go looking for problems. They will be automatically alerted to any players that might be flagged in the compliance software so that the operator can take preventative measures where needed. This will free up valuable time and resources, letting your team to tend to other important tasks.
Communication
Meanwhile, GameScanner provides operators with the intelligence they need to communicate in a personalised way with the player to alert them to habits that the system might perceive as unhealthy and explain the next steps.
Operators can easily understand and explain why players are flagged as at-risk. This information leads to more meaningful customer communication.
Compliance
Of course, the most important part of compliance software is the regulatory element. In a constantly evolving industry like iGaming, where regulations are strict in certain markets, it’s important to keep on top of regulatory requirements in any given territory. Across various industries, about 60% of companies use some form of compliance software to meet regulatory requirements, according to World Metrics.
Mindway AI has experience adapting to the different regulatory requirements of different jurisdictions, and in fact, GameScanner reaches more than 37 countries, 61 jurisdictions and 7.7 million active players around the world per month.
Integrating compliance software like GameScanner will allow your gambling business to be an example of optimal compliance in the eyes of a regulator. You can establish a reputation as an operator that is going above and beyond requirements. Additionally, operators who use GameScanner demonstrate they put players first, aiding reputation and impressing not only authorities but potential investors also.
Conclusion
Understanding what elements are most useful in your compliance software will go a long way to helping your company use the right ones – and it will be beneficial for your players and your company. Ultimately, investing in top-tier compliance software is not just a regulatory necessity but a strategic move that secures long-term success and sustainability in a highly competitive and scrutinised industry.
