For most operators attempting to grow their business across multiple jurisdictions, scaling up can be a challenge, especially when having to maximise acquisition and compliance across fragmented regulatory frameworks. Some believe keeping operations in-house is best for maximum control, while others believe using 3rd party solutions to offset the cumbersome workload can be the quickest way to grow.
We caught up with Emma Blaylock, CEO of Pretty Technical to hear her thoughts on this polarising issue and get a better understanding of whether 3rd party solutions such as their Mikado product, really are the answer to the problems most multi-jurisdiction operators face when attempting to scale up.
Effectively managing player lifecycle and compliance operations can be a challenge, especially for businesses attempting to scale. How can 3rd party solutions like Mikado help with this?
“Mikado offers a lightweight core which is fully customisable to support an operator’s existing operations and compliance needs, whilst providing the operator with control of the platform’s roadmap to support their future needs too. Mikado is built with the latest 2020s technology and design principles providing a modern solution with scalability, flexibility, performance and security at the forefront. It also integrates seamlessly with our Domino Vault product which provides a regulatory reporting solution for markets with a regulatory mandate.”
Some argue that keeping operations in house is the best way to retain ultimate control and transparency. What are the benefits of outsourcing key operations such as player management and compliance as opposed to keeping it all in-house?
“By outsourcing key operations such as player account management and compliance to a company such as Pretty Technical which has extensive experience in regulatory compliant systems tailored for the iGaming market, operators are able to focus on their strategy and market growth. Deploying development and compliance teams in-house is often costly and time-consuming. Management can rest assured that the work is in the hands of experts who have years of experience creating solutions for the very same market and regulatory requirements.
“Pretty Technical and the management team is well established in working within highly regulated markets, with full understanding of their functional and security implications. Having been built with years of experience in creating and operating similar platforms, Mikado our Player Management system is a contemporary take on a core component of a gaming or finance operation. Our product helps you stay in control, both of player/user lifecycle and compliance and importantly allows you to own your roadmap unlike other suppliers in the market.
“Our Domino Data Vault is a specific product for the gaming jurisdictions which require this as a regulatory mandate. Designed to take data from a client PAM (Mikado or third party) we convert this to the pre-defined format and keep a persistent record, with full auditing control to ensure your operation is compliant at all times. Domino is certified by ISO17025 laboratories that specialise in the gaming industry and we work closely to ensure an up-to-date compliant solution that is updated as new regulations are adapted. We are also now looking at rolling out Domino to markets where there may not be a specific regulatory requirement, but a standardised regulatory reporting tool could be hugely valuable e.g. the U.S.”
Many operators, especially new market entrants rely on platforms built on legacy systems to launch. How does this impact speed to market and what can be done to avoid this going forward?
“Legacy systems are notorious for being inflexible, having scalability and integration issues and not enabling innovation or speed to market for new features and content. Market viability should be assessed against a platform’s capabilities in the short and long term. Those with legacy solutions that are not designed well to scale, should define a path for upgrading that minimises cost and the compounding of technical debt. New market entrants should consider the latest platforms which may not have their entire wish-list in the early stages but that have a defined roadmap (which they can have an opportunity to influence) and will better serve them in the long run. Operators can lease our products (like traditional technology suppliers) or can own the system outright, which is a key differentiator to others in the market, and this flexibility alongside being in control of your roadmap enables operators to manage and fully maximise the benefit from their technology platforms.”
Multijurisdictional operators struggle the most with compliance as they need to be adaptable to different markets simultaneously. How can solutions like Mikado help with this?
“Mikado has a flexible and lightweight core, which will deliver the most extensible and configurable iGaming platform in the market. As a new platform in the market, Mikado has been designed for multi-market expansion from initiation, this will ease the effort required from operators as most of the key considerations have been catered for including payments, regulatory workflows, limits, bonusing and other market-specific constraints. Our Domino Data Vault is also adapted according to jurisdiction whilst our in-house compliance team makes sure that we are up to date with all regulatory requirements and changes to ensure an up-to-date compliant solution that is updated as new regulations are adapted.
“We are also able to offer curated teams and bespoke platform and application development with our experienced and capable technical resources. Furthermore, our partner companies from the Rokker Network can support operators with consultancy advice whether it is to perform due diligence on a system or team or market entry strategy.”
From speaking with Emma, it seems evident that the benefits of products such as Mikado are far-reaching. Key operations such as player account management and compliance can benefit from the wealth of experience companies like Pretty Technical have in abundance, allowing management to rest assured that the work is in the hands of experts without the often-costly investment in time and money you would need for an in-house team of similar expertise.
Plus, with the added complexity of multi-jurisdictional operations, being agile and able to quickly adapt to new environments is a necessity for market success. Using 3rd party solutions like Mikado, will allow you to do this, with the least amount of friction. Helping companies to secure healthy growth well into the future.