PXP FINANCIAL


Adopting AI technology


Kamran Hedjri, founder and Group CEO at PXP Financial highlights the role of AI in the payments journey and how it can be used to improve player acquisition and retention.


GIO: In terms of safer gambling, what are the benefits of AI technology? KH: Ultimately, AI is beginning to make waves in better understanding customer intent and improving security – which in a world where more gamers are demanding tailored and safe experiences, is incredibly important.


GIO: What is PXP Financial’s core business?


Kamran Hedjri: PXP Financial is a complete, omni-channel payment provider that helps wide-ranging businesses, including those in the gaming space, to accept payments online and on-premise globally. We offer an online and POS solution, alternative payments, collection/ settlement services, card acquiring and risk management and value-added services which include payment pages, reporting, conversion improvement, tokenisation, dynamic currency conversion, instalments, and recurring payments across multiple channels. An end-to-end payment platform: we provide a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 21.5 billion annually through our unified gateway. Our innovative payment platform supports business growth with all the payment services ever needed from one single, consistent source.


GIO: What is the role of AI in the payments journey? KH: Financial institutions and banking firms are actively starting to unlock ways to deploy AI in digital transactions as a part of their innovation strategy. In fact, 75% of acquirers are using AI to detect card transaction fraud.


As such, while we have only scratched the surface, AI is increasingly gaining momentum in the payments industry in processes including – predicting customer credit card behaviour; reducing false debit and credit card declines and AI and machine learning in fraud detection.


GIO: How can AI technology improve player acquisition and retention? How can AI technology be used to engage a new generation of players? KH: A key way AI will be able to improve customer acquisition and retention is due to its ability to aggregate data from large volumes of different sources such as in house-sales, marketing, and service tools. As a result, it can identify and analyse patterns in interactions to ultimately offer dynamic new customer insights. By utilising these insights, a better understanding of your customers is gained and businesses can then deploy targeted products and messages that will resonate and motivate the intended audience. On top of this, from a customer experience perspective, we’re increasingly seeing the use of chat bots in financial services to help deal with customer interactions. AI is a particularly powerful tool for underpinning this from communication through machine learning and natural language processing to give the responses a more human feel.


AI for example can help gambling operators identify unhealthy patterns before they become a problem. This means it can detect the signs of addiction to gaming from the amount a gamer plays. Casinos can also implement AI to develop a “safety net” within the system for players most at risk. Additionally, it proves a useful tool to identify suspicious behaviours which highlight cheaters utilising gaming software to help take appropriate action. This is valuable when you consider online casinos don’t have physical security members of staff to escort players out.


GIO: Do you think AI is being used to its full potential? KH: It’s too early to say. We are still a couple of years from approaching the peak of AI hype and another couple of years still from seeing widespread adoption of AI technology. However, in the coming years we’ll see real progress in understanding how AI can be used to automate and solve critical business issues, with businesses investing in the technology more and more.


GIO: What is the future of AI technology in iGaming? KH: With an increasing number of players playing for real money on a PC or mobile device, security measures are required to offer safe surroundings. AI has clearly shown to be an excellent method for operators to safeguard player privacy while processing payments most securely. With improved experiences, personalised recommendations and heightened security measures, AI can revolutionize the way we play in the future. The casino business is always evolving, and AI will influence both how we play online gaming and how casino games are produced.


GIO SEPTEMBER 2022 7


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14