GeoComply’s user information and location data access can act as a key tool in helping operators and platform providers protect against fraud, according to the firm’s Managing Director of Gaming, Lindsay Slader.
Speaking to SBC Media at SBC Summit North America last year, Slader explained how the firm’s geolocation data sets are helping the firm move into the fraud protection space, outlining that it is seeking to leverage its data to create new solutions.
“Traditionally, GeoComply worked in the gaming space, specifically providing geolocation services to the industry,” she remarked. “Through that exercise, we collect a lot of user device information and location data that really lends itself amazingly to preventing fraud, identifying fraud.
“What we’re looking at right now is how we can work with our partners, operators, platform providers, to leverage all of that powerful data and create new solutions to help fight fraud on a larger scale.”
Slader warned that, as more jurisdictions open up to sports betting and online gaming and the industry inevitably grows in size as a result, the cost and threat of fraud is increasing too.
This proved to be a key reason behind GeoComply’s movement into the anti-fraud space looking ahead.
She added: “The industry has been focused on building itself, expanding to new jurisdictions, now we’re at the point where people are trying to optimize their product, improve it to a larger scale as the industry expands, particularly here in North America.
“Along with that is, ultimately, the cost of fraud is real for operators and we’re hoping to help them find new solutions to make their systems work better.”