Justin Stempeck, Chief Strategy Officer at Compliable, talks to SBC Americas about his firm’s current state of play in the US market and how they keep their client’s data safe and secure.
SBC: For those of our readers less familiar with the Compliable brand, can you offer a brief summary of what the company does?
Justin Stempeck: Compliable provides a software as a service (SaaS) platform that allows operators and vendors to easily manage their gaming license applications across multiple US jurisdictions from one dashboard. The platform drastically reduces employee onboarding time and the completion of multiple gaming licenses simultaneously. Compliable’s ability to accelerate the licensing process for both operators and vendors gives them a competitive advantage in an industry where the first movers retain larger market share.
SBC: What’s the current state of play for Compliable in the US gaming market? How’s business going?
Stempeck: We have had a great start since officially launching the business last year and we are pleased to be working with some of the largest gaming operators in the market. We are adding new partners monthly as more states regulate online gambling and the industry becomes familiar with how our product can support them. In late 2021, we launched our new vendor licensing product and are excited to expand our reach to now also collaborate with companies in the gaming vendor sector. With so many new and interesting businesses being built in the space, we want the innovation to continue without getting bogged down in licensing woes and that is where Compliable can help, allowing our clients to focus on further developing their own offering.
SBC: What are the major pain points for companies seeking to get licensed in the US and how does Compliable work to address them?
Stempeck: Due to the state-by-state nature of gaming regulation, US operations pose a unique problem as companies must evaluate and understand many different regulatory requirements. Additionally, licensing applications often ask similar questions in different jurisdictions so there can be a lot of excessive administrative work to communicate the same information to multiple regulators. Even after licenses are granted, tracking expiration dates and ongoing licensure requirements is a permanent obligation upon any licensee. Compliable lets vendors and operators alike rapidly address licensing obligations in multiple states at the same time and supports the compliance teams to allow them to focus on the more complex questions surrounding regulation.
SBC: What can potential clients do prior to approaching Compliable to best prepare for the licensing process?
Stempeck: It is always helpful to have a clear sense of which states a client is targeting and what their future plans are. However, we’re happy to provide our general knowledge to people interested in learning more about licensing requirements they may face, and since we speak to regulators frequently, we can provide a lot of insight into the potential pitfalls companies may face as they get licensed.
SBC: Keeping clients’ data safe and secure is clearly a big part of what you do. Can you tell us more about the processes in place to ensure that happens?
Stempeck: At Compliable, the process of keeping data safe is in the very root of our infrastructure, meaning that we believe in strictly limiting the collection and processing of personal data and to the best of our abilities keep it safe and secure. We do this through secure collection methodologies and ensure that all data is stored at rest with AES-256 encryption. Data is only unencrypted for the amount of time that is required to create personal documents (pdfs) for download by users. No manager or other developers at Compliable have unencrypted access to user information. Compliable has also implemented a privacy and security compliance program that is aligned with applicable global data privacy laws.
