Online gaming software provider SOFTSWISS says it has been using artificial intelligence (AI) technology to help its anti-fraud work done on behalf of iGaming operators.
“AI is an effective tool for analysing large data sets in real-time,” said Vitali Matsukevich, chief operating officer at SOFTSWISS, as cited in a Wednesday press release.
The anti-fraud team within SOFTSWISS’ Managed Services is said to have helped operators save more than EUR16 million (US$17.8 million) in 2022 by processing 61,810 requests for data analysis. The firm said that would have been “hardly possible” if it had needed to rely wholly on humans to do the work.
Though Mr Matsukevich pointed out that the “final decision” in such investigative work “should still be left to an expert”.
He added: “With all [its] speed and efficiency, you can’t put all the responsibility for business decisions on the artificial intelligence.”
Nonetheless, the SOFTSWISS research and development (R&D) department has been able to develop a real-time data analysis tool, making use of machine-learning to detect suspicious cases and bring them to the attention of the Anti-Fraud team experts.
SOFTSWISS also said its recent updates have enhanced the group’s ability to assess the quality of affiliate traffic, to “ensure a secure and trustworthy iGaming environment”.
Another tool created by the SOFTSWISS R&D team is Business Metrics Monitoring and Management – known internally as ‘BM3’. It is described as a machine-learning -driven system that analyses key business indicators and identifies deviations on a near-real-time basis.
“BM3 helps identify potential issues more efficiently than traditional rule-based solutions, enabling prompt detection and troubleshooting to prevent negative impacts on client business and avoid financial losses,” stated SOFTSWISS in its Wednesday update.
The company said that another area where AI has demonstrated its efficiency, is player management. The firm’s ‘DOSSIER’ system analyses player behaviour, and predicts their actions, enabling operators to make “timely and tailored offers”.
AI is also used in the SOFTSWISS Sportsbook to personalise content for players. AI-based tools enable the display of events according to player preferences. The system collects real-time data on player activity and then delivers the most relevant content, including suggested events particularly appealing to specific players or similar player groups.
Mr Matsukevich observed: “When it comes to players, this approach helps reduce the time between bets and increase their amounts and player LTV.” The latter is a reference to the “lifetime value” of a player with a particular game or gaming activity.
“When players easily find exciting events tailored to their preferences, their gaming experience becomes more enjoyable, positively impacting overall business performance,” stated the SOFTSWISS COO.
