How LiveScore Group decreased manual work by 97%

LiveScore Group operates media and gambling products, offering engagement with all types of sports. Its international presence means that the volume of transactions the group processes every day is high, and complex due to the number of currencies involved. As a result, their finance team is always reviewing tools to create new efficiencies. 

The Challenge  

The challenges faced by LiveScore Group were largely caused by the constraints of Excel.  

Consisting of major brands such as Virgin Bet and LiveScore Bet, which span the UK, Ireland, Nigeria, and Bulgaria, the operator naturally processes high numbers of transactions. Like many teams, their scale meant they were consistently faced with waiting on Excel to “respond”.  The finance managers within the group were therefore looking for a tool that was resilient to significant volumes. 

When it came to reconciliation, LiveScore Group therefore had an opportunity to optimise both their technology and their processes. 

The Solution

With the Group focussed on ensuring customer satisfaction, scalability, ease of onboarding and talent retention, reconciliation efficiency became a priority. Fortunately, given that LiveScore Group’s Management Accountant had used Aurum at a previous company, the solution they needed wasn’t hard to find. 

Aurum was tailored to LiveScore Group’s internal processes, to help them reach their goals:

1. Rapid PSP and bank reconciliation

Aurum’s scheduler takes care of extraction, transformation and reconciliation of data overnight, all before the team even begins work

2. Immediate exception flagging

When combined with superfast reconciliation, the payments team were notified of discrepancies in real time, helping them to make resolutions quickly

3. Transaction visibility expansion

Aurum provides a figure of the collective total that should be in various custodian banks, alongside the value of each transaction that contributes to the overall total. 

The Result:

As is always the case for users of Aurum, implementation resulted in benefits including, and beyond their initial goal of improved efficiency:

1. Time saved

Exception resolution now rarely exceeds 15 minutes

Manual work is decreased by 97%

2. Customer satisfaction increased

With players moving money in and out of digital wallets, LiveScore Group’s efficient payments infrastructure improves their experience by avoiding friction. 

3. Compliance 

Running 24/7 in the background, immutable audit trails have supported investigation, pinpointing and resolution. Player Fund Liability maintenance is now done with ease, and more granular data visibility has simplified reporting.

The Future:

Thanks to the positive impact LiveScore Group has experienced across finance, compliance, and customer support, there is a strong desire to reap more rewards from using Aurum.

LiveScore Group is now focused on expanding its operations into South Africa. This venture will bring with it new challenges but ones the Group is confident in overcoming thanks to the support of Aurum Solutions:  

1. New PSPs – Aurum will apply experience from the expansion of clients such as Betway, to support the onboarding of new PSPs in the region.
2. Higher volumes – Aurum scales with operations, and so time to complete automation will not increase with the rise in transaction volumes from the new audience.

Overall, with Aurum now up and running at LiveScore Group, future opportunities are abundant. Trust in the software's ability to run in the background and deliver accuracy, the support of a friendly team, and the knowledge of Aurum’s scalability all mean that the Finance team are now looking beyond the spreadsheet to inspire further growth.