Online gambling operator, Kindred Group, is teaming up with an analytics firm to explore how artificial intelligence can aid its anti-money laundering systems.
The Swedish online gambling operator teamed up with BetBuddy, which specialises in analysing gaming trends, as well as the University of London to investigate how the artificial intelligence techniques can be enhanced to improve anti-money laundering decision-making processes.
“This project is yet another step in Kindred Group’s journey to find innovative ways of improving our business,” he said in regards to the company, which was formerly known as the Unibet Group.
“The project ties into the research already started within our Kindred Futures arm, looking at how artificial intelligence can support detection of possible suspicious behaviours.
“As a group, we will be able to continue improving on our already strong compliance track record with the use of artificial intelligence and big data while further ensuring a safe and secure gambling environment for our customers.”
Kindred has licenses in Australia, the UK, Malta, Gibraltar, Belgium, France, Denmark, Ireland, Italy, Romania, Estonia and the German state of Schleswig-Holstein.
The company states on its website it has “the ability to create a digital fingerprint of our customers’ behaviours on our platform” which in turn helps the company with “anti-money laundering, match fixing and fraud issues.”
Kindred Group uses “ID verification and age restrictions, security questions, document screening and other identification tools” to help deal with anti-money laundering processes. But this research with artificial intelligence may help improve security.
Chief Executive Officer for London-based BetBuddy, Simo Dragicevic, said in a statement Kindred Group is “an innovator in all aspects of iGaming player protection.”
“We are also pleased to be continuing our long-standing collaboration with professor Garcez and his research team, who are respected globally as leaders in the fields of machine learning and extracting meaning and knowledge from artificial intelligence,” he added.
Professor Artur Garcez works for the University of London’s Research Centre for Machine Learning said they’ve been onboard with BetBuddy since 2014 and are looking “forward to working with Kindred Group too on this research project.”
“It is great to see our models and theory put to the test in a fulfilling collaboration that also drives new research that can improve peoples’ lives,” Professor Artur Garcez said.
The Kindred Group established around 20 years ago and re-branded from Unibet in 2016 to reflect a multi-brand strategy. It recently reported an all-time revenue high of $196.45 million in the first quarter.
The company also announced plans to purchase operator 32Red before the end of June for $220.3 million.