CONISTER Bank has announced what it is calling the island’s first eGaming dedicated banking product.
Conister Bank ProTect has been created specifically for the island’s eGaming operators, following approval from the Isle of Man Gambling and Supervision Commission (GSC).
It has been structured so that Conister Bank can accept gaming operators’ funds and place them on a fiduciary service with other banks. The product also meets the player protection requirements of the Online Gaming and Regulation Act (OGRA) which requires player funds to be segregated from operational accounts.
The new service was officially launched to nearly 200 delegates at the recent KPMG Isle of Man eGaming Summit, where Conister was one of the major sponsors.
Conister Bank managing director, Juan Kelly, believes that ProTect was exactly the type of tailor-made banking solution the island’s eGaming industry had been calling for. He said: ‘The eGaming sector has been underserved historically. It is now high time for positive action and I am proud that Conister Bank is the first bank in the island to step up to the plate.’
John Shimmin, MHK, Economic Development minister said: ‘This will help the Isle of Man attract more eGaming companies looking for a bank that can offer credible services.’