Lecture Notes: Andrea McGeekin on NeoSurf Internationalization

Introduction

• Speaker: Andrea McGeekin, CEO of NeoSurf
• Topic: Internationalization of NeoSurf services

Andrea McGeekin's Transition to CEO

• **Recent Role Changes:
  • Andrea McGeekin became CEO
  • Advanced the Chief Operating Officer position
  • Lydia also advanced in the operational hierarchy
• **Responsibilities:
  • Tech and product development managed by French division
  • Commercial side managed by Andrea's team

Internationalization of NeoSurf

Key Considerations

• Main Focus: Regulation over market penetration
  • Regulation is paramount compared to the number of retail outlets
• Partnerships: Importance of local partners for point of sale and online distribution
• Dual Regulators: Financial regulators and gambling operators both need to be satisfied

Engagement with Regulators

• Examples of Good Engagement: Holland and Ontario
• Regulators in these regions engage and explain their requirements
• Similar approach seen in US states like NJ

Regulatory Compliance Strategies

• NeoSurf’s Approach:
• Responsible support for clients adhering to both kinds of regulations
• Use of technology to simplify compliance processes

Key Initiatives in 2023

Separation of Markets

• Games Market and Esports designated into a specialized 'digital cash'
• New rollout phases in Australia

Technological Innovations

• **KYC Handshake:
  • Runs API calls behind the scene for KYC (Know Your Customer) compliance
  • Ensures smooth and traceable customer journey without interruption

New Market Expansions

• **Planned Markets: US, Philippines, Japan, India, LATAM
• Local Payments Integration: Bringing local payment options into NeoSurf system

Operator-friendly Services

• Low Tech Burden: Ensures operators don't face heavy tech demands
• **Implementation of services without extensive changes by operators

Challenges and Perceptions

• Operator Perception of Cash Vouchers:
  • Some operators reluctant to adopt cash vouchers
  • Other competitors moving away from cash voucher solutions
• NeoSurf’s Unique Position:
  • Focused on delivering non-anonymous yet private traceable cash voucher solutions
  • Strong service level at core of their offerings
  • Emphasis on simple and effective addition of services

Future Outlook for NeoSurf

• Continued Focus on Cash and Prepaid Vouchers:
• Leveraging strong regulatory compliance and technological solutions
• Enhancing products like payout services
• Geographical Expansion: More countries and bigger footprints
• Team Expansion: International distribution team has quadrupled in size
• Commitment to Quality: Emphasis on doing things properly and maintaining transparency and responsibility for regulatory compliance