Max Trafimovich, Chief Commercial Officer at igaming software solutions provider SOFTSWISS, wraps up 2023 in this exclusive interview. Topics for discussion include AI, gamification, regulatory trends and a look at what’s in store for the company in 2024.
SOFTSWISS has recently released an extensive report on the 2024 iGaming Trends, with AI identified as one of the prominent trends, how do you foresee the evolving role of artificial intelligence as a tool within the igaming industry?
Acknowledging our pivotal role in shaping industry trends, SOFTSWISS experts have meticulously crafted a comprehensive ebook that aims to furnish all market participants with current information, enabling them to develop effective strategies for business growth in a dynamic and ever-changing environment.
Focusing on Artificial Intelligence (AI), I should mention that the tool is ready to revolutionise every aspect of the igaming industry, reshaping traditional paradigms and elevating overall efficiency. Let’s delve into its adoption both by providers and operators.
In the domain of software companies like SOFTSWISS, tools such as the AI copilot prove their value in code creation. Design platforms like Midjourney or Wix streamline the creative process, generating images and website layouts within minutes. Furthermore, AI extends its influence to managerial and sales roles, aiding in summarising meeting outcomes (as one example) and augmenting overall productivity. Deep data analytics, powered by AI, can provide essential insights.
AI’s implementation for operators spans a spectrum of applications. From employing AI-driven chatbots to fortifying Know Your Customer (KYC) procedures, operators leverage neural networks to excel in security measures, specifically in detecting fakes and forgeries. The transformative potential of AI extends to player engagement, orchestrating precisely targeted promotions that deliver tailored incentives, tactically timed for optimal impact.
What are the benefits of gamification? Will it gain momentum as a long-term trend next year? How does SOFTSWISS integrate this concept into its product portfolio?
The appeal of gamification finds its foundation in psychology. Within each of us resides an inner child, often restrained from indulging in play. The gamification elements embedded in games, educational tools, or financial applications enhance their attractiveness, appealing to that latent sense of joy within us.
Our proactive integration of gamification into products is poised to meet the diverse needs of both players and operators seamlessly. More than five years ago, we were there offering robust gamification elements and powerful player segmentation. Recent advancements have materialised in the introduction of the Bonus API, offering operators even more flexibility to customise bonuses.
Furthermore, our Jackpot Aggregator and Tournament Tool act as invaluable mechanisms for amplifying player engagement. Witnessing top operators embrace these features is gratifying, underscoring their positive impact on enhancing the overall gaming experience.
Nevertheless, it’s important to understand that gamification is not a magic solution that automatically propels a software product to superior status. At SOFTSWISS, we consistently prioritise other indispensable elements. Our diversified approach emphasises our dedication to leading industry trends, ensuring an attractive and immersive experience for all stakeholders.
What regulatory trends are industry experts at SOFTSWISS anticipating in the gambling sphere?
The igaming sector is evolving into a patchwork of localised regulations as countries actively refine frameworks in line with their social and economic goals. These domestic regulations go beyond mere legal requirements; they symbolise a country’s commitment to cultivating and supporting the igaming industry for its own advancement.
A meticulously designed regulatory environment acts as a guiding light for operators seeking a market that offers both expansion opportunities and stability. It not only guarantees a secure playing environment for users but also functions as a dependable source of revenue for governments. This shift toward customised local regulations represents a notable departure from the previously predominant one-size-fits-all regulatory approach.
Brazil serves as a good example. Over the past decade, Brazil has strategically developed regulatory initiatives, drawing significant attention from the sector. Positioned as a pivotal player, Brazil has the potential to reshape industry landscapes.
Undoubtedly, the Brazilian market emerges as the most promising frontier for igaming businesses. With a population surpassing any European country, the vast expanse of Brazil highlights the significance of gambling and betting companies’ efforts to establish a strong presence in this burgeoning market.
Hopefully, the regulation in Brazil will soon allow online casino content as well, as it doesn’t allow it now (at the time of writing). Meanwhile, the igaming vertical is developing there at a frantic pace.
As the new year approaches, could you outline the most significant SOFTSWISS achievements of 2023?
Assessing yearly outcomes is intricately tied to the effectiveness of the chosen strategy. At SOFTSWISS, we establish explicit, measurable objectives spanning at least three years, regularly revisiting and refining them. The current results are particularly gratifying.
Highlighting key achievements, we’ve reached milestones such as 10 billion euro in Monthly Total Bets for the SOFTSWISS Game Aggregator in July, a 4.5-fold increase in the Sportsbook GGR, and the addition of the 70th partner brand to the SOFTSWISS Jackpot Aggregator. Significant additions to our lineup include the successful launch of the Tournament Tool and the cross-product integration.
These accomplishments, coupled with notable figures, underscore our unwavering commitment to excellence and have garnered prestigious industry awards in categories like ‘Best Aggregator’, ’Crypto Company of the Year’, and ’Best Customer Service’. We will continue to solidify our position as a leader in the dynamic and ever-evolving landscape of the igaming industry.
Would you mind shedding light on SOFTSWISS’ plans for the upcoming year?
Looking ahead into 2024, we are dedicated to enhancing the player experience by significantly improving our product portfolio. We plan to strengthen our Sportsbook, expand the Tournament Tool across our client base, and obtain certifications for our product kit in several new countries.
In addition to expanding into promising regions like LatAm, SOFTSWISS is focusing on the burgeoning African market with long-term projects dedicated to ensuring sustainable growth in the region.
Expanding our global presence and enhancing the gaming experience for our players on multiple fronts, SOFTSWISS remains committed to upholding its principles of a top-tier technological company, such as expertise, security, service, and innovation.
