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32Red joins Ethoca network

22 Jan 2008

DUBLIN, Ireland -- (PRESS RELEASE) -- Ethoca, the leader in collaborative fraud management, announced today that 32Red Plc-- a premier UK online gaming company -- is the latest to join the global network of fraud fighters intent on recovering a piece of the more than £15 billion in previously foregone annual revenues.

Named 'Best Casino' for the past four years by industry watchdog and player advocate site Casinomeister, 32Red is joining Ethoca's fraud management network to combat fraud and reduce manual reviews necessary to sign up new gaming registrants. 32Red is the latest gaming company to join the Ethoca network, which includes other well known companies such as William Hill, Stan James, 888, and bwin.

"We have a responsibility to ensure that our players have an entertaining and enjoyable experience, which includes detecting and preventing any fraudulent play. By using Ethoca's innovative collaborative fraud management solution as part of our improved social responsibility policies, we believe that we can have a lower-risk customer base that will result in reductions in fraud, and eliminate a significant number of the manual reviews we need to conduct," said Pat Harrison, Operations Director, 32Red. "Ethoca is the only service that allows 32Red to benefit from the payment experiences of other companies, which is a remarkable breakthrough in fraud management."

This announcement builds on the growing momentum among financial services, online retailers and gaming operators in the UK and worldwide joining together through Ethoca's collaborative fraud management services. Global leaders see Ethoca's collaborative fraud management service as a way to inform their decisions and enhance their profitability on thousands of transactions every day. Ethoca is the only service that allows companies to benefit from the payment experiences of other companies. Accepting more of the "right" types of transactions increases revenue, and declining the "wrong" ones reduces losses and non-payment. According to recent research, better fraud management can result in e-businesses recovering more than £15 billion in previously foregone annual revenue.

"With over 30% of the industry's top betting and gaming companies as Ethoca members, the online gaming industry has clearly recognized the power of working together to defeat fraud," said Andre Edelbrock, Ethoca President and CEO.

"We're very pleased to add 32Red as the newest member of our Collaborative Fraud Management community - the de facto standard in the gaming industry. Most fraud management is about reducing risk; Ethoca's unique because we're also about increasing returns. That's why we're turning competitors into collaborators."

 
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