LexisNexis outlines the value of New Jersey approval

LexisNexis outlines the value of New Jersey approval

Tuesday, April 14, 2015

Yuri Cameron, director of market planning at LexisNexis Risk Solutions, has told TotallyGaming.com that the firm will use its recent approval from the New Jersey Department of Gaming Enforcement (DGE) to capitalise on the expanding online gaming market in the US state.

The company has been granted approval by the body to offer identity and age verification services to online gaming operators in New Jersey.

LexisNexis has already established itself in the land-based casino market through its provision of Know Your Customer (KYC) compliance services, but has expanded this offering into the online gaming market in recent years. This strategy will now be supported by the supply of services in one of only three states in the US that has regulated some form of online gaming.

Speaking to TotallyGaming.com about the approval, Cameron said the move would help benefit several areas of the business.

“First, we anticipate growth from the identity management and KYC services provided to iGaming operators in New Jersey as the market grows and more operators start using our services,” Cameron said.

“Second, there are at least a couple of adjacent workflows where iGaming operators can use LexisNexis Risk Solutions services. For example, an operator performs KYC when a new customer signs up. Risks evolve, though, and a player that does not represent compliance risks today might become a risk six months or a year from now.

“Thus, it is imperative for iGaming companies to continuously monitor their customer databases to identify these risks, and LexisNexis provides tools and automation that support this workflow.

“Third, we are taking a strategic view on our relationships with gaming operators. In gaming, we view ourselves as a leading provider of technology, data and analytics addressing a wide spectrum of our customers’ needs in compliance, customer database management, credit risk and security domestically and globally.

“We want to ensure that we are supporting our clients – gaming operators – in each of these areas across their businesses and across multiple domestic and global geographic markets.

“Long-term, it is likely that growth of online gaming will continue domestically and globally. Also, domestically online gaming is very interconnected with the land-based gaming business.

“Therefore, supporting our online gaming clients in New Jersey is valuable in itself, but it is also an important aspect of our broader strategy.”

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