Operators warned to ‘take control’ of financial situation

Operators warned to ‘take control’ of financial situation

Wednesday, September 23, 2015 Totally Gaming
A new report tells companies that they must be sure of their position

Online gaming operators must construct a robust financial control regime if they are to overcome the manual and complex reconciliation and reporting processes within the industry, according to a new report.

‘iGaming Reconciliations – Are you in Control?’ has been produced by Tottenham & Co, a specialist international gaming consultancy, and AutoRek, a provider of financial, operational and regulatory solutions.

The report assesses regulatory and technological shifts and describes seven layers that online gaming firms must reconcile to know their true financial position, as well as offering a six-step approach to achieve robust, automated control.

AutoRek and Tottenham & Co will also join forces at next month’s EiG event in Berlin, where they will demonstrate why the requirement to overcome manual and complex reconciliation and reporting processes lies at the heart of the need for true financial control. 

“We are delighted to be working with Tottenham & Co,” said Gordon McHarg, managing director at AutoRek. “They combine outstanding industry knowledge with an incomparable network within iGaming. We are excited about working together to improve the financial and regulatory controls offering within the iGaming community”.

Andrew Tottenham, managing director at Tottenham & Co, said that he believes the alliance between the two can help online gaming companies that face heightened competition and demands to prove customers’ funds are adequately protected.

Tottenham said: “AutoRek has an unparalleled suite of automated financial control products, deployed with great success within the banking and asset management industries. These industries are some of the most highly regulated in the world and the iGaming industry now finds itself having to meet similar regulatory standards.

“I am so pleased to be partnering with this ‘best in breed’ company that will enable us to bring products that will give the iGaming industry a level of financial control that will not only enhance their business but also allow it to comply with the most stringent regulatory requirements.”

* 'iGaming Reconciliations – Are you in Control?' can be downloaded here

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