Navigating the Complexities of iGaming Finance

And we are BACK!

To kick start our second edition of #TalentTalks we sat down with Kirsty Jade Woodley #PSP Accountant at WPT Global .

Can you start by telling us about your past experience and what led you to your current role?

My journey in the gaming industry began with banking and PSP (Payment Service Provider) reconciliation. I’ve always been interested in PSPs, so I focused on developing that skill. This foundation eventually led me to my current role, where I manage financial operations in the iGaming sector.

The iGaming industry is known for its rapid growth and dynamic nature. How do you ensure financial accuracy and compliance in such a fast-paced environment?

In a fast-paced environment like iGaming, I ensure financial accuracy by tracking PSP settlements on a daily basis. By doing this, I can monitor inflows and outflows consistently and address any discrepancies promptly. This proactive approach helps maintain financial integrity even as the industry evolves.

Payment processing and fraud prevention are critical in the iGaming sector. How do you manage the financial complexities of transactions, and what role do you play in safeguarding against financial fraud?

As part of my role, I oversee daily payment processing and ensure every transaction is accurately reconciled. Fraud prevention is a key aspect of my responsibilities, and I continuously monitor for any unusual activity. By staying vigilant and implementing best practices, I work to mitigate financial fraud and protect the integrity of our financial systems.

As a PSP accountant based in Malta, how do you manage the complexities of dealing with cross-border transactions, particularly with the variety of currencies and a diverse player base across Europe and beyond?

Managing cross-border transactions requires a streamlined approach. To make the process more efficient, I’ve integrated an automated reconciliation system that handles the complexities of different currencies. This system helps us process payments seamlessly and ensures that all transactions are accurately reconciled, no matter where the player is located.

With the rapid technological advancements in iGaming, what role does automation and data analytics play in your accounting processes, and how has this improved efficiency?

Automation and data analytics are crucial in my daily accounting processes. By tracking transactions and discrepancies in real time, I can tackle any issues as they arise, which helps me close the books efficiently at month-end. This proactive approach significantly improves efficiency and reduces the chances of errors.

The iGaming industry faces constant scrutiny from regulatory bodies worldwide. How do you stay up to date with changing regulations, and how do you ensure your financial reporting meets all necessary standards?

Staying updated with regulatory changes is a top priority. We hold regular team meetings and participate in training courses to ensure we’re always in compliance with the latest requirements. This helps ensure that our financial reporting meets all necessary standards and stays aligned with global regulatory expectations.