OneComply: Regulators need better solutions for compliance

Centralised licensing was a key topic of focus for OneComply CEO, Cameron Conn when he recently spoke to SBC Americas Editor Jessica Welman

The head of OneComply spoke on attending the Global Gaming Expo (G2E) and the varying number of people who approached OneComply on finding the best solutions to enter new and emerging igaming/betting US markets. 

Conn revealed that scalability is one of the primary objectives for firms looking to break into different jurisdictions, and the OneComply CEO reveals that his company has the data available to make those transitions a lot more seamless. 

He said: “Those have been conversations we’ve been having over the last couple of years, especially with scalability and how we manage this process. We’ve been having this with all our clients asking ‘how do we get into a market quicker?’ 

“If you look at a state like Ohio, they gave you a month. I think we had 12 clients apply in Ohio and they did it in the first week because that data was readily available removing a lot of that stress. 

OneComply has received the backing of multiple regulators having also tapped into the firm’s centralised data which helps eliminate the tedious manual labour times via an automated process. 

“When I talked about the centralization of all of this data and these documents, we now have nine regulatory boards that are actually coming into OneComply to access information.

“So traditionally, we have one state that accepts initial submissions. So [operators] sign their documents, they have fingerprint cards, they’ve centralised everything in OneComply and allowed those regulators to access those documents on initial submissions

“We then have another eight jurisdictions that are accessing through OneComply all of those follow-up documents that happen post that submission. So we knew it was a byproduct for regulators, but now we’re seeing that regulators want better solutions.”

Conn also discussed the digitisation of documents, the AML aspects of their data, and going against the grain of traditional approaches.