SOFTSWISS Poised to Achieve Key Certification in Brazil’s Gaming Market

SOFTSWISS, a leading software provider for the gaming industry, is on the brink of becoming the first certified provider for both casino platforms and sportsbooks in Brazil. The certification process, managed by an authorized testing laboratory, is crucial as SOFTSWISS aims to solidify its presence in the highly regulated Brazilian market.

In its quest for certification, SOFTSWISS builds on its robust compliance foundation, already reinforced by obtaining GLI-19 and GLI-33 certifications. These certifications underscore the company’s readiness to meet the specific regulatory requirements of the Brazilian market. To ensure full compliance, SOFTSWISS is actively engaging with certification labs to align with Brazil’s distinct regulatory needs, which prioritize player registration, Know Your Customer (KYC) protocols, and responsible gambling practices.

Andrey Starovoitov, Co-CEO at SOFTSWISS, emphasized the company’s commitment, stating: “We view Brazil as a highly promising region and are encouraged by the progress in local regulation as well as by the proactive efforts of local authorities to refine and enhance the existing legal framework. The stringent requirements for gambling software emphasize responsible gambling and public protection, which regulators aim to balance effectively with business interests. It’s clear that the Brazilian Government is working diligently to maintain the appeal of white labeling within this market, ensuring a healthy environment for both operators and players.”

A pivotal aspect of Brazil’s regulatory framework is its focus on a comprehensive registration process. This includes requiring players to provide a CPF number during the registration phase, which is a crucial step in preventing fraudulent activities such as multiple account creations and underage gambling. These measures are designed to protect self-excluded individuals, prevent bonus abuse, and enhance tax compliance on winnings.

In addition to the enhanced registration requirements, Brazil’s forthcoming regulations are set to strengthen KYC procedures significantly. Operations like password resets or profile updates might soon require additional verification steps, such as liveness checks, which necessitate technological updates for many platforms currently in operation.

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The commitment to responsible gambling is another cornerstone of the Brazilian regulatory approach. The local regulator is currently developing a set of comprehensive requirements intended to allow players better control over their gaming activities. These features are expected to be integrated seamlessly into gaming platforms, showcasing the government’s dedication to fostering a safe gambling environment.

SOFTSWISS’s track record in promoting responsible gaming practices positions it well to meet these emerging regulatory challenges. The company has notably facilitated the security of around 6 million euros through its Anti-Fraud team in the first half of 2024 alone, earning accolades such as the SiGMA Africa Awards for its efforts.

Earlier this year, as part of its strategic expansion in Latin America, SOFTSWISS appointed the legendary Formula 1 driver Rubens Barrichello as its Non-Executive Director for the region. Barrichello’s renowned expertise in technology and innovation, coupled with his deep understanding of the Brazilian market, will be instrumental in tailoring SOFTSWISS’s offerings to meet local demands and preferences.

Source:

“SOFTSWISS Poised to Become First Certified Software Provider in Brazil“, softswiss.com, August 14, 2024.