SAI Global has recently partnered with Kindred Group (Kindred), one of Europe's largest online 'Moneytainment' gambling operators with more than 15.3 million customers worldwide to help streamline their complex licensing arrangements and compliance management programme.
With Kindred's operations spanning more than 100 countries in 20 different languages and further expansion on the cards, navigating the compliance and licensing frameworks of such a diverse, multi-jurisdictional landscape is fraught with complexities and getting it wrong is just not an option.
In both existing and new jurisdictions Kindred must contend with ever increasing and changing regulations, licensing requirements and reporting demands.These apply to the licensing of brands, platforms and to the individual games themselves.
Kindred had previously been managing their compliance landscape manually; as the business grew this became increasingly difficult and time consuming, increasing the likelihood of potentially costly errors and omissions. Additionally, meeting obligations across multiple jurisdictions involves dealing with a many different stakeholders including multiple regulatory bodies.
Implementation of SAI Global's market-leading GRC software, Compliance 360 will help Kindred streamline their management of licensing obligations, product, processes and third-party supplier relationships. The impact of changing legislation or licensing requirements on individual games in individual jurisdictions can be quickly identified and effectively managed.
"SAI Global’s GRC software provides us with the accuracy and certainty we need to meet our complex, multi-jurisdictional regulatory obligations. It also provides us with greater clarity and deeper insight into the running of our business. With SAI Global’s support and software, we’ve managed to turn our compliance function in to a value creator rather than a cost centre."
Group Regulatory Officer Re-Regulated Markets, Kindred Group
In addition to streamlining their risk management landscape, Compliance 360's auditing functions importantly provides Kindred with the ability to extend greater transparency of their operations to regulators and governing bodies.
"We believe our GRC software, Compliance 360 is the best available risk management product for customers in the online gambling sector. It provides operators, such as Kindred Group, with one integrated platform from which to manage their risk and compliance requirements, including licences, products, processes, controls and third parties across multiple jurisdictions."
Executive Vice President of Risk, SAI Global
Compliance 360's Enterprise Risk Manager empowers organisations to manage their risk landscape and improve organizational performance by optimizing the upside of risk and mitigating the downside. With Compliance 360, organisations can confidently pursue opportunities presented by uncertainty.
In a detailed analysis of GRC platform vendors, Independent analyst firm Forrester Research recognised SAI Global's Compliance 360 as a Leader in the Forrester Wave™: Governance, Risk and Compliance Platforms, Q1 2016 Report.
The report also noted that SAI Global is among vendors that have a "solid value proposition and philosophy of GRC success that makes them an overall strong pick and that the company has an extremely diverse, extremely happy customer base.”