GeoComply and Snaitech Team up for Fraud Prevention in Europe

GeoComply and Snaitech have teamed up to expand their respective footprints in the European market.

Snaitech is tapping the Canadian geolocation specialist to help bolster its security and achieve better results in fraud detection, prevent crime, and establish its consumer identity.

Snaitech Seeks to Bolster Compliance in Italy as GeoComply Expands in Europe

The goal is to leverage GeoComply’s extensive geolocation solutions to ensure compliance as well as protect consumers. Commenting on this new opportunity, Snaitech CEO Fabio Schiavolin said that the company was squarely focused on “empowering customers” by using the most advanced and reliable technology. In a statement, Schiavolin said:

The partnership with GeoComply allows us to take that commitment to the next level, underlining our efforts and dedication to player protection in the iGaming market. By integrating their market-leading platform, we can proactively address emerging threats, ensuring an innovative, transparent and compliant gaming experience.

Snaitech CEO Fabio Schiavolin

The way the partnership will work follows pretty much the same logic that GeoComply has utilized in places such as the United States. Snaitech will leverage GeoComply’s solutions to verify player locations and thus prevent fraud and money laundering.

Specifically, the company will be able to better detect instances of account takeovers or bonus abuse, which harms everyone. At the same time, Snaitech is confident that the use of GeoComply’s advanced tech will allow it to remain competitive and transparent.

Commenting on this new European foray, GeoComply CEO Anna Sainsbury said that the latest tie-up demonstrated the power of the company’s geolocation technology and how it impacts gaming, allowing companies to maintain integrity and reduce risk linked to compliance.

“The adoption of such technology not only mitigates risks but also creates amazing user experiences that drive revenue globally for the entire regulated gaming ecosystem. It’s a win-win for everyone involved,” Sainsbury explained.

GeoComply Dissects Emerging and Untapped Markets with Its Software

Recent data released by GeoComply also showed an interesting trend back in the United States. Using popular queries, GeoComply was able to spot that there is surging demand for sports betting in states such as Texas.

Texas does not regulate sports betting as of right now. However, there may be enough momentum to seriously consider a shift towards a regulated market, according to GeoComply’s findings.

Flutter Entertainment agreed to buy Snaitech from Playtech in a €2.3-billion deal back in September, consolidating the company’s presence in the dynamic Italian betting and gaming market.