Yes, that is possible. While some institutional banks have chosen not to serve the gaming industry anymore due to the additional compliance burden required, ConnectPay is ready to walk the extra mile for its clients.
“ConnectPay stands for banking made easy and it‘s our top priority to simplify processes and make it truly easy. In a highly overcrowded financial industry our services stand out because we offer a working product and we talk as business to business not as bankers to business. We always look for possibilities and options because every case is different and customising is the key,” says Liutauras Varanavičius, Head of Business Development at ConnectPay.
ConnectPay clientele – numerous tier one gaming companies
Licensed in early 2018, ConnectPay already holds an outstanding portfolio including several major gaming companies with rapidly growing monthly turnover; from €10.5m in September 2018 to €101m in September 2019.
Rather than manage relatively more risky clients, traditional financial institutions often choose to end the relationship consequently minimizing their own risk exposure but for Liutauras and his team it‘s the other way around.
“Yes, it takes more time, requires more human resources, it also requires a deep understanding of every single business case. However, it is the whole beauty of the process as you get to know your customer and by every new onboarded company you learn new ways to help business and stay 100% compliant,” Varanavičius comments.
ConnectPay operates as a business-friendly bank facilitating services for internet based companies by making compliance and regulation work for them, not against them.
At the moment, funds ConnectPay customers keep with the company are close to €50m and growing.