|Accurate Software has announced it’s sealed a lucrative deal with Betfair to provide the betting exchange its cutting operational risk Management solution, Accurate NXG. The software company say NXG will enable ‘more efficient reconciliation of high volume multi-currency transactions that will facilitate faster transaction processing, and reduce exposure to risk while improving operational control.’|
The need for new software is indicative of the global interest in the world’s biggest betting exchange, and the sheer volume of multi-currency transactions it has to deal with. The new system will provide allow faster processing and keep Betfair alert to potential fraud by providing a complete audit trail of all transactions to help the company demonstrate maximum transparency.
Lee Cowles, Head of Client Operations, Betfair said: 'We evaluated Accurate's Operational Risk Management solution following a recommendation from our banks. We selected Accurate NXG because it meets our requirements to increase operational efficiency, better manage exposure to risk and support our future business growth. Accurate NXG is a flexible solution that can handle increased transaction volumes in line with our expansion into the Far East and the diversification of our business model to other gaming channels, including casino.'
Philip Hall, chairman and co-chief executive officer, Accurate Software, added: 'Another high profile gaming organisation has selected Accurate NXG to support the reconciliation of high volume, multi-currency transactions. The real time environment at Betfair requires fast and efficient processing to ensure operational control and reduce exposure to risk.