GeoComply is the first and only geolocation and ID verification services compliance supplier to be awarded a conditional license by the Ohio Casino Control Commission (OCCC).
The leading Vancouver-based geolocation security service providing online security solutions and fraud prevention has been handed the first-ever geolocation and Know Your Customer (KYC) license in Ohio.
The commission issued 10 other operator licenses and four supplier licenses as it works toward opening the regulated Ohio sports betting market set for Jan. 1, 2023.
Compliance deadlines approaching quickly
GeoComply’s senior vice president of compliance Lindsay Slader said via press release:
“We are delighted to get our license approved early in the process. Compliance deadlines are coming quickly, and we are in the strongest position to ensure our customers meet the requirements and submit complete and final geolocation procedures by Nov. 2.”
The OCCC has informed prospective operators that submitting plans to the commission and getting them approved by the Nov. 2 deadline is required to begin accepting bets by the Jan. 1 universal start date.
Why does the conditional suppliers’ license matter?
Every company that provides KYC services in Ohio must obtain a supplier license. GeoComply’s Ohio conditional suppliers’ license is necessary to cover its IDComply product and market-leading geolocation services. For the time being, IDComply is the only service in Ohio that handles age and identity verification.
IDComply streamlines existing Know Your Customer and anti-money-laundering processes through an all-in-one solution. It allows online casinos and sports betting operators to get the highest possible age and identity verification rates using a waterfall workflow.
The process has been designed to check multiple vendors and data sources – all with one application programming interface (API) call.
A trusted geolocation solution
Used by the industry’s leading brands and regulators for the past ten years, GeoComply’s geolocation solutions are installed on more than 400 million devices, analyzing more than 9 billion transactions per year.
GeoComply’s award-winning solutions are based on the state-of-the-art technologies created for the complex US online gaming and sports betting market.
The company also specializes in online banking, payments and cryptocurrency industries, with an impressive list of customers, including Amazon Prime Video, BBC, BetMGM, DraftKings and FanDuel.
With the recent sports betting launch in Kansas and future launches in Ohio and Maryland, GeoComply and its geolocation technology services have been brought to center stage as the states aim to ensure all bets are compliant.