SOFTSWISS, a leading provider in the iGaming industry, is making significant strides towards becoming the first certified software provider in Brazil. The company is currently undergoing the certification process for its Casino Platform and Sportsbook offerings, with the evaluation being conducted by an authorized testing laboratory. This development represents a crucial step for SOFTSWISS as it seeks to establish a strong foothold in the rapidly expanding Brazilian market.
Last year, SOFTSWISS successfully obtained GLI-19 and GLI-33 certifications, setting a solid foundation for meeting international regulatory standards. However, entering the Brazilian market presents a unique set of challenges. Brazil has distinct regulatory requirements that differ from those in other regions. Through close collaboration with certifying laboratories, SOFTSWISS has identified several key priorities set by the Brazilian government, including stringent player registration processes, enhanced Know Your Customer (KYC) protocols and a strong commitment to responsible gambling.
Focus on Rigorous Registration Processes
One of the central aspects of Brazil’s regulatory approach is the emphasis on a comprehensive and robust registration process. This process is designed to mitigate risks for both players and operators. A notable requirement under the new regulations is the necessity for new players to provide a CPF number, which is the Brazilian Individual Taxpayer Registry Number, during registration. This system is designed to verify the CPF number to prevent users from creating multiple accounts and ensure that all registrations are made with accurate personal details, thereby reducing the risk of fraud.
This measure plays a critical role in preventing underage gambling, protecting self-excluded individuals, and shielding operators from issues like bonus abuse due to account multiplicity. Additionally, it allows the government to monitor tax compliance on winnings, which is a significant concern in the emerging Brazilian market.
Enhanced KYC Protocols and Security Measures
Brazil’s regulatory framework is also expected to introduce more stringent KYC procedures. Specific user actions, such as resetting passwords or updating profile information, may require additional verification steps. This could include implementing a liveness check, which would necessitate technical upgrades to most existing platforms. These enhanced KYC protocols ensure higher levels of security and compliance, which are crucial for safeguarding both operators and end-users in the Brazilian market.
The Brazilian regulator has placed responsible gambling at the forefront of its regulatory agenda. The government is in the process of formulating a comprehensive set of requirements aimed at empowering players to maintain control over their gaming activities. These features will need to be seamlessly integrated into gaming platforms, reflecting the government’s dedication to creating a safe gambling environment.
SOFTSWISS, with its extensive experience in promoting responsible gambling, describes itself as “well-equipped to meet these requirements”. The company has a proven track record in maintaining high-security standards and has helped operators secure approximately €6 million through its Anti-Fraud team in the first half of 2024. This commitment has earned SOFTSWISS multiple industry accolades, including recognition at the SiGMA Africa Awards for its dedication to responsible gambling.
In line with its strategic expansion in Brazil, SOFTSWISS recently appointed legendary F1 driver Rubens Barrichello as its Non-Executive Director for Latin America. Barrichello, known for his achievements in the competitive world of motorsport, brings valuable expertise in technology and innovation. His involvement ensures that SOFTSWISS benefits from a deep understanding of the Brazilian market and integrates a local perspective into its product development.
