Geofencing technology company Radar and LexisNexis Risk Solutions have formed a strategic alliance that will include developing a suite of products and tools designed to ensure that devices are within the appropriate legal jurisdictions for gambling.
This collaboration integrates Radar’s geofencing, mapping and geo-compliance capabilities with the advanced data and technology from LexisNexis Risk Solutions. The aim is to deliver a robust solution for gaming and gambling operators that will help ensure that devices used for online gambling in the U.S. comply with applicable state regulations.
The solution will ensure that devices used for gambling fall within necessary jusridictional bounds, whether those be state boundaries, sports arenas, tribal lands, casino floors or other venues. Combined with capabilities in know your customer (KYC), one-time passcodes, fraud prevention, compliance and payments from LexisNexis Risk Solutions, the alliance will enable operators to manage the entire customer lifecycle seamlessly with singular alignment, say the firms.
“LexisNexis Risk Solutions provides the tools gaming and gambling operators need today to mitigate fraud, identify risk and help ensure compliance,” said Sean Britt, senior director, LexisNexis Risk Solutions. “By aligning with Radar, we can offer those protections throughout the entire customer lifecycle.
“The collaboration is timely, as the industry navigates a period of rapid expansion and increased regulations. It represents a proactive approach to addressing the challenges of regulatory compliance in the rapidly evolving landscape of online gaming and gambling.”
“Radar’s extensive expertise in location-based products, coupled with our proprietary algorithms and robust reporting, aligns perfectly with the risk mitigation knowledge and solutions from LexisNexis Risk Solutions,” added Radar co-founder and CEO Nick Patrick. “We are excited to provide our tools and services to gaming and gambling operators, simplifying their compliance processes.”
Radar also works with the likes of Integrity Compliance 360 (IC360) on geolocation compliance. The two companies work together on the Geo360 powered by Radar product.
Radar: bringing a reliable and trusted geolocation alternative to the US
Radar has over a decade of experience working in other industries, during which the company has been able to optimize its technology to offer a robust platform at a reasonable price.
Patrick recently told SBC Americas that the company aims to use its experience and expertise to bring a trusted and reliable alternative to an industry whre gelocation services are typically dominated by the likes of GeoComply.
The co-founder says that Radar provides a more cost-effective solution for gaming operators and offers higher latency and more fliexibility than its competitors.
As of June 2024, Radar was licensed and ready to operate in 11 U.S. states and had filed applications for 11 more. Patrick told SBC Americas that the company expects to be licensed in every state where iGaming or online sports betting is legal by the end of the year, and is also seeing demand for its services in Canada, Europe and Brazil.
