A CEO’s perspective on navigating 2022

| By Laura Gumbrell
The pandemic saw igaming become one of the entertainment industry’s best-performing sectors. As Covid-19’s effects begin to recede, Technamin chief executive Suren Khachtryan speaks to iGB on how the business kept pace with technological advances, from navigating cryptocurrency to preparing for the metaverse.

Technamin’s founder and CEO Suren Khachatryan was born in Yerevan, Armenia, later moving to Cyprus and the UK to complete his higher education. With a degree in commerce and business administration from the University of Birmingham, Suren Khachatryan’s experience in the igaming industry spans more than a decade and multiple countries. He has contributed to the success of prestigious igaming companies in Armenia, handling various aspects of business, organising expos overseas, and opening offices abroad. In 2020, he established Technamin, a company that aims to be an innovative ‘breath of fresh air’ in the igaming industry, offering products and solutions which are cutting-edge, and highly adaptable to any scenario.

Gaming has been a key growth sector in the entertainment industry over the past three years, with revenue records shattered in 2020 in particular. Having taken a big leap forward since then, the pressure is on providers to keep that pace.

To maintain that growth, industry chief executives need to adopt new products and solutions through coming up with strategies that allow them to compete in an evolving sector. With everything from payment solutions, technological advancements and the games themselves increasing, it’s paramount that providers maintain an outlook on the future.  

The need to innovate

Suren Khachatryan is embracing the future as he looks to accelerate Technamin’s growth. He previously led and helped two established brands grow in Betconstruct and Digitain, and having formed Technamin in 2020,  is looking to build a third. 

Key to this is the people behind the business. Khachatryan says it would have been impossible to carve out a space in an already crowded industry if it weren’t for his highly dedicated team. 

“Both of the businesses I was previously involved with already had some form of infrastructure before I joined them,” he explains. “They weren’t startups. I learned what one can do with an energetic, driven team of experts who are tireless when it comes to expanding the business. 

“Without a dedicated core team, any company will struggle. I carried this lesson with me to Technamin, which is why we are now a diverse team that is full of zest and has a great work ethic.”

Navigating new technologies 

With mobile established as the primary channel in most igaming markets, it is important for brands to differentiate solutions to stand out against those already in the market. And Technamin set out to make its mobile solutions a unique selling point from the beginning.

“Our solutions have been created with a strict mobile-first approach and built by factoring in the latest trends in UI/UX,” Khachatryan says. “We have developed them in a way that allows players to have the same comfortable experience on hand-held devices that they have on desktop versions.”

Everything has been built to be easily accessible, to make navigating menus effortless, whether they are making a deposit, withdrawing winnings or simply logging in or out of their accounts. “Everything is designed for the convenience of the player,” he says. 

“We are also adamant on offering customised experiences to each player, which is why they can easily see the games and events which they are specifically interested in after logging into their accounts.This has always been our goal as a design-driven company.”

Crypto casino

With convenience being at the heart of successful platforms, online wallets and web based forms of payments have seen a significant rise over the past year. Cryptocurrency has become an increasingly popular form of currency among gaming. 

“Bitcoin is popular due to its decentralisation,” Khachatryan says. “Customers therefore prefer it due to its convenient peer-to-peer capabilities, as well as the simplicity of having it as a wallet online.”

“Since they do not rely on third parties such as banks, payments that are made with these currencies are lightning-fast. Same goes for transfers. There is no mediator between the user and the operator, which amounts to a lot of efficiency and speed.”

Khachatryan emphasises that crypto is fast on track becoming an inseparable part of our lives and is emerging as a key growth channel in the industry due to its flexibility in processing payments compared to fiat casino payment solutions.

“Users seem to prefer crypto because the payments are anonymous, thanks to blockchain. Their e-wallets do not display any information unless during transactions. No personal data is recorded. This further adds to a sense of security, which is further amplified by the ability to check transaction histories of each user.” 

The use of these payment forms are not only beneficial to the customer, but for the operator too, as Khachatryan highlights: “Cryptocurrencies tackle the fees that are associated with fiat currencies, since the latter are done through banks. Crypto isn’t bank-based, so the fees are significantly lower.”

Web3 technologies and the metaverse 

Like crypto, most of the innovation around igaming is powered by the desire for decentralisation. In 2014 the term Web3 was coined by Ethereum co-founder Gavin Wood, which is the latest in next-generation technology on the internet. It is based on blockchain technology, fuelled by cryptocurrency and focuses on data security, privacy and scalability for users.

Following this, the concept of the metaverse is slowly becoming a prevalent part of the future of igaming. The metaverse is set to give consumers access to a parallel digital platform with realistic sensory feedback. The immersive ‘world’ places players in a virtual reality, represented by avatars.

And Technamin is watching with interest. “We are keeping a close eye on the metaverse and how it’s advancing,” Khachatryan says. “It’s a natural progression from virtual reality and the ultimate manifestation of artificial intelligence, and it’s very exciting.

“Imagine being able to attend a casino from the comfort of your home and not only play games, but also interact with other users. The metaverse can offer that experience, and much more. It will even be able to replicate the experience of being in a football stadium with a full audience. 

The combination of cryptocurrency, blockchain, AI and ultimately the metaverse may be largely uncharted territory for the industry. For Khachatryan, this is “what makes the industry exciting”. Technamin, he adds, is “always trying to improve products and solutions to keep up”.

“We will definitely be integrating some form of web3 technologies when the time comes.”

What’s next for Technamin?

While technological advancements throw up myriad challenges and opportunities, Khachtyran maintains that a strong network of internal and external contacts is an essential first step towards success. “I have learnt the importance of building a network and meeting various people through trade shows and exhibitions,” he says. 

“With experience in overseas events and expos, my past is coming in handy for Technamin as we gear up for our first public appearance at ICE London. 

“ICE will give us an opportunity not only to present our unique takes on the products and solutions which we have developed, but also to meet with other industry experts, share knowledge, and of course, meet potential clients.”

“You can find us at stand number S1-228, and we guarantee a warm welcome!”

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