Many challenges remain as we seek to reduce friction across all touchpoints. Know-Your-Customer (KYC), anti-money laundering (AML), sanctions, privacy, settlement timing and risk, source of funds, technology integrations, and many other considerations are in play. By developing our payments composability, payments orchestration, and transactional identity capabilities while working with compliant on/off ramps at increasingly distant edges of our ecosystem, we can continue expanding the global reach of these solutions. With Everi’s growing footprint of subsidiaries and legal entities across the globe, along with our banking partnerships, we will continue to expand the reach of our products and services!
How will Everi look to bolster its FinTech presence across global gaming markets in 2025?
Everi has been pursuing a multi-pronged approach to address the challenge. First, simple product market fit assessment uncovers the gaps in the consumer experience – the emphasis is on experience. No one wakes up excited about the act of payment, the payment is just a necessary step to access goods and services. In our industry, that act is shrouded in concerns about AML, KYC, and illicit finance. Our products and services need to be able to address that, and they do.
Second, our customers need to develop and begin to implement a digital strategy, which can be a challenge in the fast paced, resource constrained world we live in. Tis means that it needs to be seen as a
priority, as well as having skills on board to respond. Tird, we need the regulatory framework to enable change, particularly when the underlying regulations have been centred around consumer and data protection from more of an accounting perspective (with technology moats around the regulated systems), rather than a banking centric view. Tis change and the skillset to support it can be a challenge.
For the second and third prongs, the key word is: knowledge. From many perspectives, the knowledge is missing, so Everi’s role and goals have been focused on education. We do demos, go to trade shows, do more demos, publish articles, do more demos, and we partner with the vendor community to do webinars and – you guessed it – more demos. At the end of the day, industry change requires industry participation, and we have had amazing partners in making progress!
How is Everi embracing the growing applications of AI in its cashless and FinTech suite?
AI is a very rapidly evolving technology and, as such, it represents a challenge to a slowly changing industry. We are actively working AI into business and engineering processes in a manner consistent with our market-leading security and controls discipline. We also work with our vendors and suppliers to seek improvements to our processes. From fraud to compliance, to business process automation – we will look at all our options to enhance security, productivity, and enhanced experiences for our customers and their patrons!
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