LexisNexis Risk Solutions, a leading provider of data and analytics for the insurance industry, has announced a strategic partnership with Radar, a specialist in compliance technology for the gambling sector. The collaboration aims to enhance regulatory compliance and risk management for gambling operators, particularly in light of increasing regulatory scrutiny in the industry.
The partnership will see LexisNexis Risk Solutions provide Radar with access to its comprehensive range of data and analytics solutions, including identity verification, anti-money laundering checks, and fraud prevention tools. Radar will then integrate these solutions into its compliance platform, enabling gambling operators to streamline their compliance processes and better meet regulatory requirements.
The collaboration comes at a crucial time for the gambling industry, with regulators around the world tightening their oversight of operators to prevent money laundering, fraud, and problem gambling. With the partnership, LexisNexis Risk Solutions and Radar are aiming to provide gambling operators with the tools they need to proactively manage compliance risks and stay ahead of regulatory changes.
“Combining the expertise of LexisNexis Risk Solutions with Radar’s cutting-edge compliance technology will offer gambling operators a comprehensive solution for managing compliance risks,” said Thomas C. Brown, Vice President of Financial Services at LexisNexis Risk Solutions. “By leveraging our data and analytics capabilities, operators can automate and streamline their compliance processes, enabling them to focus on providing a safe and responsible gambling experience for their customers.”
Radar’s CEO, Gary Frischer, also commented on the partnership, stating that, “We are thrilled to be working with LexisNexis Risk Solutions to enhance our compliance platform for the gambling industry. By integrating their industry-leading data and analytics solutions into our platform, we can provide operators with a holistic view of their customers and transactions, helping them to identify and mitigate compliance risks more effectively.”
The collaboration between LexisNexis Risk Solutions and Radar represents a major step forward in the effort to improve compliance and risk management within the gambling industry. With regulators ramping up their enforcement efforts, operators will need to leverage advanced technologies and data solutions to ensure they remain compliant and secure in an ever-evolving regulatory landscape.