Gaming Innovation Group adds Volt as Partner for Open Banking

Gaming Innovation Group Inc. (GiG) has signed an agreement with Volt Technologies Limited, the open banking solutions provider. The deal allows GiG customers to use Volt’s payment solutions.

Thanks to Volt’s single source of integration, its open banking service enables GiG’s B2B partners to access payment options across a wide range of markets. In turn, the latter will be able to offer a more efficient payment solution to its B2B partners, which will enhance their banking capabilities and increase their merchant offering. Volt’s switch and smart routing technology is currently linked to the strongest network providers in Europe.

Open banking in the European Union falls under the PSD2 framework. This framework has a goal to modernize the banking landscape and encourage innovation by reducing the barriers of entry to the financial services industry. Due to recent regulations, banks are obligated to open up API’s to licensed third parties. Thanks to these API’s, third party providers can initiate payments or access the customer’s banking data which in turn allows for the development of new and improved experiences and services.

Official Comments

Representatives from Gaming Innovation Group, which recently partnered with Hacksaw Gaming, say that they are happy about this new alliance and that gaining access to highly accurate data will become game-changing for compliance-related processes.

Ben Clemes, Chief Commercial Officer said: “We are happy to have partnered with Volt for open source banking, its features align with GIG’s increased focus towards platform services, providing our partners with superior technical solutions to reach their goals. Gaining access to highly accurate data that comes directly from the customer’s bank will become a game-changer for KYC and compliance-related processes.”

Jordan Lawrence, Chief Commercial Officer at Volt, added: “GIG is one of the leaders in technology development enabling the gaming industry, we are delighted to be working with their team. We look forward to unlocking the potential of open banking for GIG’s partner network.”

More about Gaming Innovation Group

Serving as a technology company operating in the iGaming industry, the company offers cutting-edge Cloud-based services and Performance Marketing through B2B solutions. The team provides their customers with the technology, solutions and services to create an amazing experience for their respective s. The company is also in ownership of six customer facing brands that offer a gaming experience like no other in the form of casino games, sports betting and poker tables.

The company, which recently United Kingdom, New Jersey, and Sweden and are in talks with the Danish and Spanish regulators for acquiring licenses.

Source:

“GIG signs agreement with Volt as main partner for open banking”, gig.com, May 6, 2020.