Compliance technology has lagged behind the modernization and innovation of the rest of the gaming space, according to Kinectify CEO Joseph Martin, and more needs to be done to change that.
Speaking ahead of SBC Summit North America, Martin breaks down the ways in which Kinectify is becoming a hub at the intersection of technology and compliance as it seeks to remedy any regulatory headaches for igaming operators across North America.
SBC: Thanks for taking the time to speak with us. Can you tell us a bit about how you became involved with Kinectify?
JM: I’ve been in AML compliance my entire career working across gaming, cannabis, and banking, both on the compliance side and the Fintech side. As an AML analyst at Caesars Entertainment managing the day-to-day work, I saw a need and an opportunity to modernize compliance within the gaming industry. We were dealing with spreadsheets, manual processes, and retrofitted banking software that just didn’t work for gaming, an increasingly common occurrence in compliance departments across our sector.
I developed a vision of modern AML software designed specifically for gaming that adopted the best concepts, features, and partnerships from other verticals and applied them to gaming. I collaborated with other AML analysts and top technologists for over a year developing our prototype of a comprehensive software platform to digitize and automate gaming compliance in a way that provides visibility, flexibility, and scalability.
We have built a team of top compliance talent and technologists with backgrounds from world-class tech companies like Apple, TiVo, Mitek, and top gaming organizations like Caesars, William Hill, Morongo, and RSM consulting. We are excited to roll out our sophisticated technology and serve at the intersection of software and compliance in the gaming space.
SBC: For those that might not know, what is Kinectify?
JM: Kinectify is the only AML platform that does it all. The company serves gaming operators both in the US and Canada. Our modern AML platform seamlessly integrates all of an organization’s data into a single view and workflow, empowering gaming companies to efficiently manage risk across their enterprise.
In addition, Kinectify’s advisory services enhance gaming operators’ capacity with industry experts who can design and test programs, meet compliance deadlines, and even provide outsource services for the day-to-day administration of compliance programs.
SBC: How have you positioned yourself as a leader in the compliance and gaming space?
JM: We recognized early on that compliance technology in gaming has lagged behind the modernization and innovation of the rest of the gaming space. Kinectify is quickly becoming the hub at the intersection of technology and compliance, facilitating compliance and rapid growth across the industry.
The company is a unique convergence of top technologists and gaming compliance experts. Our technologists have rolled out revolutionary products over the decades, including bringing the iMac to market at Apple, developing the check deposit app used by most banks in the U.S., and creating the leading cannabis compliance Regtech and payments solutions. Our compliance experts have led the top AML professional groups, have served on AML government committees, and have managed compliance at top interactive, retail, and tribal gaming organizations.
SBC: Can you tell us how your software is letting your partners centralize risk management information? And how this can help minimize risk and maximize efficiency?
JM: Kinectify empowers gaming companies to efficiently manage their risk with real-time intelligence enabling them to focus on growing their businesses instead of being bogged down by compliance. We are the only AML software for gaming that gives you one view of your entire enterprise across the US and Canada. We centralize customer information, automate workflows, facilitate government filings, provide advanced data analytics, and integrate with leading providers of global intelligence.
The company provides access to information on 6 billion people and 300 million companies including net worth estimates on over 250 million individuals. Our global research capabilities cover over 60 languages and 160 watchlists. We even have biographic information on over 30,000 professional and collegiate athletes in the US and Canada.
Kinectify is ushering in a new era of risk management capabilities for the gaming industry, providing operators the visibility, scalability, and flexibility needed in the space at this exciting time.
SBC: What role does Kinectify Advisors play in the development and positioning of Kinectify as an industry leader?
JM: Under the direction of AML industry experts, Kinectify’s advisory services enable clients to scale their capacity up and down with ease. Kinectify Advisors is a professional services firm that enhances our clients’ compliance capacity with industry experts who can design and test programs, help meet compliance deadlines, and even allow clients to augment their staff or outsource compliance.
Led by the former SVP of AML at Caesars Entertainment and the former AML Manager of William Hill, our clients can scale compliance resources up and down with ease through a paid-by-the-hour approach to top compliance talent. This is especially relevant with the seasonality of sports betting and the constrained labor environment today. Jess Hodgson, CEO of Bounty Sports and a Kinectify customer, recently stated that, “When you work with Kinectify, you pay for a compliance advisor and get a compliance department.”
SBC: What can we expect from Kinectify for the remainder of 2022?
JM: As we continue to see rapid growth and innovation in this industry, Kinectify has quickly become the industry staple compliance product to support this growth and innovation. We will be making several major announcements throughout the year as we establish new industry partnerships and continue to roll out new compliance technology products and services in the US and Canada.
Additionally, we will announce adjacent modules throughout 2022 and 2023 that will enable our customers to perform a wide range of compliance tasks from our single platform. All of these innovations and developments will allow us to fulfill our mission of establishing compliance as an enabler of growth and not a hindrance to it.
Kinectify will be exhibiting at booth #407 the upcoming SBC Summit North America, which takes place from 12-14 July at the Meadowlands Exposition Center.