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Insight


RECRUITMENT & RETENTION Compliable


mortar casinos or to make it easier to complete very complex key licence applications.


Since day one, we knew we had to build a solution that would solve licensing challenges at scale – for the compliance teams that manage hundreds, or even thousands, of licensees. Tat means that we’ve had to build in automation and flexibility and remove as much busywork as possible.


Quantitatively in terms of costs and time saved, what does Compliable's technology offer operators?


For one of our large sportsbook customers, we’ve reduced the time customer support employees take to get licensed from five weeks to just three days. We expect all sportsbooks operating in multiple states to gain these types of time savings.


Other than the time savings for compliance teams and licensees, the biggest potential benefit may actually come from helping them be ready to go the very second a new state goes live. To big operators, being first to market in new jurisdictions is worth millions.


Additionally, many operators we spoke with expressed concern with the toll onboarding vendors and affiliates were taking on their compliance team. Simply answering questions and helping them navigate through the complex landscape was taking upwards of 40 per cent of a compliance team’s energy. With Compliable, they can offload that work and make sure their vendors and affiliates are properly licensed without having to hold their hands through the entire process.


In May, Compliable secured $1.7m seed funding in a round led by Chicago-based KB Partners, a venture firm investing in early-stage companies at the intersection of sports and technology. What was the rationale for the funding round and how do you plan on utilising the investment?


When we first encountered the problem that operators were facing with licensing, we repurposed our existing technology to create our first prototype. While this got the initial job done, we knew we had to lay down a solid foundation that would allow us to scale going forward.


Tat funding allowed us to double the size of our engineering team and bring on data security specialists to


Many operators we spoke with expressed concern with the toll onboarding vendors and affiliates were taking on their compliance team. Simply answering questions and helping them navigate through the complex landscape was taking upwards of 40 per cent of a compliance team’s energy. With Compliable, they can offload that work and make sure their vendors and affiliates are properly licensed without having to hold their hands through the entire process.


make sure we could pass the most stringent security audits possible. After all, licensing data includes some of the most sensitive personal data you could imagine.


David VanEgmond, founder and CEO of Bettor Capital, a fund focused on the US sports betting opportunity and investor in Compliable’s latest round, described the company's vision to become the 'TurboTax' for the online gaming space. Do you share this view? What does this mean in practice?


We think that's a really interesting analogy. Just like in TurboTax, our platform has people answer questions rather than fill out forms. Also, we strive to ensure that people only have to answer the same question once – no matter how many different jurisdictions ask it – and try to provide additional information for any question that might be confusing to the licensees.


Unlike TurboTax, which is fully self-service, we also give compliance teams a ‘heads-up display’, allowing them to invite entire cohorts of licensees to apply for multiple licenses, see the status of each person's license applications and licenses, and allow them to quickly prompt individuals to finish entering information or to submit a document.


Te idea of replacing complexity and confusion with clarity and good user experience is a view we share. In practice, that means collecting data from users in a simple and straightforward manner, and then having the system fill out hundreds of pages of documents perfectly, without error, so that regulators and operators both can move people through the process more easily.


WIRE / PULSE / INSIGHT / REPORTS P43


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