Fixing the Banking Gap in iGaming and High-Risk Markets: An Interview with Daw Global Co-Founder Richard Picton-Turbervill
Daw Global was founded to solve a problem many regulated and high-growth businesses know all too well: accessing reliable, flexible banking infrastructure in an industry where traditional financial institutions are often unwilling to engage. In this interview, Richard Picton-Turbervill, Co-Founder & Director of Daw Global, explains how the company evolved from its foreign exchange roots into a provider of multi-currency accounts and payment solutions for industries including iGaming, crypto and forex. He discusses the challenges operators face with conventional banking, how Daw Global approaches compliance across complex regulatory landscapes, and why building long-term partnerships, rather than transactional relationships, sits at the heart of the company’s growth strategy.
What was the original idea behind Daw Global, and how has your vision evolved since you first launched?
My business partner, Euan, and I first met in 2017 when we joined a foreign exchange company on the same day, and we quickly became close. Over time, we noticed a significant gap in the market: highly regulated industries needed multi-currency bank accounts, but existing providers weren’t allowed to offer them. Recognising this as an opportunity we could solve, we founded Daw Global in 2023, starting as a foreign exchange business which evolved into a provider of multi-currency accounts.
From the outset, our vision was to use our combined experience of payments to offer solutions that went beyond what was available elsewhere. We wanted to provide a unique, tailored offering for underserved clients.
Since launching, our perspective has shifted. Initially, we approached opportunities transactionally, but we quickly learned that business is about more than generating revenue – it’s about understanding clients’ needs and building lasting relationships. Today, Daw Global connects us with a global network of contacts across all industries including iGaming, Crypto, Forex and offshore sectors. The company has grown beyond a business venture; it now shapes our careers, our social connections and our long-term vision for the future of payments.
You mention that iGaming operators face “barriers with traditional banking” such as delayed settlements and fragmented multi-currency management. Which pain point do your customers describe most frequently, and why do you think it has persisted in the industry for so long?
The pain points our customers describe most frequently is the lack of access to traditional banking services. Licensed iGaming operators often struggle to open accounts or process transactions through conventional banks due to the perceived regulatory and compliance risks associated with iGaming. Without efficient access to bank accounts, operators face significant challenges in processing payments and running day-to-day financial operations.
This issue has persisted for so long because traditional banks remain highly cautious when it comes to iGaming. The industry is heavily regulated and differs across jurisdictions, creating complexity and uncertainty. Many financial institutions prefer to avoid these risks entirely rather than develop the expertise and compliance infrastructure required to serve iGaming operators efficiently. That’s why specialised banking solutions have become essential for licensed operators to operate smoothly and stay fully compliant.
Given the regulatory complexity across jurisdictions, how does Daw Global stay ahead in compliance, and what internal processes or technologies do you leverage to manage this effectively?
Daw Global stays ahead of regulatory complexities by combining sector-specific expertise with a robust, continuously updated compliance framework. Our team conducts ongoing research into key iGaming licensing regimes such as MGA and CGA. Because these authorities implement rigorous checks before issuing licenses, we are able to rely on those standards while still applying our own comprehensive due-diligence procedures.
Internally, we leverage a structured compliance process that includes thorough AML reviews, UBO screening and transaction monitoring across payment flows. This framework is supported by established partnerships with iGaming specialists, legal advisors, CSPs and direct channels with licensing authorities, enabling us to respond quickly to regulatory updates and maintain alignment with evolving requirements. As a result, compliance assessments for clients are typically efficient and hassle-free once standard regulatory checks are completed.
With many fintechs and banking providers entering the market, what makes Daw Global’s solution for high-risk and regulated industries uniquely compelling?
Daw Global distinguishes itself through deep sector insight and a finely tuned approach to serving high-growth industries. Close collaboration with an established international banking and payments network provides real-time visibility into regulatory shifts and market developments, enabling us to deliver solutions that are both compliant and strategically aligned with each client’s commercial objectives.
Every engagement begins with a detailed assessment of the client’s payment ecosystem, allowing Daw Global to design multi-currency account structures that support complex, cross-border transaction flows. Pricing models are then defined collaboratively to minimise operational friction and ensure continuity.
In a market that demands speed, reliability, and transparency, that is exactly what we offer – an onboarding process that meets the expectations of fast-moving enterprises: account setup, pricing approval and registration can all begin within the same day. This blend of tailored structuring, rapid deployment, and strong regulatory competence positions us as a uniquely effective partner for organisations operating in challenging financial environments.
Your offering includes multi-currency accounts, dedicated IBANs, and bespoke FX pricing. How do you balance competitive FX rates with risk management, particularly when operating across many jurisdictions?
We take a highly personalised approach with every client. Before agreeing on any pricing, we sit down with them, understand their business model in detail, and analyse their payment flows. That process allows us to tailor a structure that gives them exactly what they need — a comprehensive banking facility with very competitive pricing and access to some of the most advanced payment rails in the world.
Ultimately, our focus is on long-term partnerships rather than short-term volume. We’re not interested in pricing for just a few transactions; we want clients to maximise their payment flows through their accounts and see us as a strategic partner over many years. Operating across such a wide range of industries and jurisdictions is a real advantage for us. It enables us to design solutions that balance attractive pricing with rigorous risk management, ensuring both sustainability and value for the client.
You support cryptocurrency wallets and digital asset transactions. How do you see the role of crypto evolving in iGaming payments over the next few years, and how is Daw Global positioning itself for that future?
The role of cryptocurrency in iGaming is evolving incredibly quickly. Crypto payments are opening up access for players in emerging markets, allowing them to fund bets efficiently and cost-effectively. From my perspective in South Africa, I’ve seen how crypto enables cross-border activity where moving local currency can be slow or restricted – many players and professionals already rely on it to access global platforms. What we’re seeing globally is crypto moving from a niche option in high-growth sectors to a standard payment method in both emerging and established markets. Today, it’s often one of the first topics clients and partners raise when discussing payments. Interestingly, even major fluctuations in crypto prices don’t seem to effect usage – players continue to rely on it to fund their gaming activities.
That said, regulatory developments can influence growth. For example, most recently, local licensing rules in Brazil under the SPA restrict players from using crypto, meaning platforms under such regimes may only process payments in the local fiat currency.
We’re positioning ourselves to navigate these dynamics, ensuring our platforms remain compliant, flexible and ready to support the continued evolution of crypto in iGaming.
The article mentions dedicated account managers with deep operational and regulatory expertise. Can you walk us through what the onboarding process looks like for a new iGaming operator and how you support them long-term?
Our onboarding process is designed to be fast, structured, and fully supported by dedicated account managers with deep operational and regulatory expertise. We begin with a brief overview, followed by a compliance review and risk assessment to align pricing and ensure regulatory readiness. Once approved, clients register through our platform, submit required documentation, and, if needed, opt for priority review. Throughout this period, our team maintains continuous communication to guide them through each step. After account activation, operators receive full access to their multi-currency accounts, and our support continues long-term with proactive monitoring, guidance and direct access to our specialists whenever needed.
Daw Global is active across diverse markets, from Europe and North America to LATAM and sub-Saharan Africa. Which region do you see as the biggest growth opportunity, and how do you tailor your offering to different regulatory and market landscapes?
Emerging markets, particularly Brazil, Nigeria and India, represent our biggest growth opportunities. These regions combine fast-growing economies with significant barriers to accessing international financial services. Solutions such as crypto and multi-currency accounts are becoming increasingly essential to enable smooth cross-border transactions. At Daw Global, we tailor our offerings to each market’s regulatory and commercial realities, combining deep compliance expertise with flexible, client-focused solutions. This approach allows businesses to operate efficiently and securely, while maintaining full regulatory compliance, giving them the ability to expand globally without friction or operational bottlenecks.
Could you describe the technical architecture of your online platform, particularly how you balance usability, security, and transparency in cross-border payments?
Our platform is designed for seamless cross-border banking, allowing users to access multiple company accounts with a single login. It balances usability and security by enabling customisable user permissions, spending limits and real-time currency conversions. Integrated with the most advanced payment methods, it ensures accurate account matching and compliance tracking. Clients receive instant notifications and can update regulatory documents as needed, making account management straightforward and transparent. It’s a robust, intuitive system that gives businesses, particularly in high-growth sectors such as iGaming, full control over multiple currencies and accounts while maintaining the highest security and compliance standards.
Looking ahead 3–5 years, what are your biggest goals for Daw Global? Do you plan to expand into new verticals, offer additional financial products, or develop partnerships that could reshape your value proposition?
Our long-term vision is to simplify international banking and payments for businesses of all sizes. Today, we provide multi-currency bank accounts and some of the world’s most advanced payment rails, serving a wide range of businesses across the globe, including to those operating in sectors often considered higher risk such as iGaming.
As a South African, I’ve experienced firsthand how restrictive some emerging market economies can be with the free flow of payments, particularly in local currencies like ZAR, INR, BRL. Looking ahead, we see significant opportunity in emerging markets such as Brazil, Nigeria, and India. These regions have billions of people and fast-growing economies but face barriers in accessing international financial services. Our goal is to establish a stronger local presence and offer tailored solutions, including local payment capabilities and currency support.
We are exploring partnerships and local operations to make global commerce more accessible to empower businesses of all sizes to transact worldwide with ease.
