Tool allows UK operators to carry out comprehensive affordability checks without impacting the user journey
W2, the provider of leading regulatory compliance services to the gambling industry, has launched a powerful Affordability for Gambling Solution that allows operators to carry out comprehensive affordability checks without impacting the customer journey.
It combines data assets from multiple sources at the individual, demographic, and geographic levels on a ‘where available’ basis and has been built to provide as clear a picture as possible but in a way that is not intrusive to the player.
It allows operators to gain insight into multiple affordability indicators so that they can protect their players, comply with regulations, and avoid potential fines and reputation damage with the UK Gambling Commission having handed out more than £54m in fines over the past two years alone.
W2’s Affordability for Gambling Tool can also be delivered via the Crucial Compliance Player Protection tool and key benefits include:
- Custom data consumption either through API integration at onboarding, or trigger based on various markers of harm (MOH)
- Ongoing monitoring for changes in player circumstances
- Verify declared income without the need for documentation
- Understand previous loan application purpose and amount
- 50+ data indicators from public, third-party and self-declared sources
- Analyse player population with batch database review
The launch of W2’s affordability solution comes at a time when player affordability is very much under the microscope as part of the UK Government’s review of the Gambling Act 2005.
As a result of the review, it is widely expected that the Gambling Commission will increase oversight and enforcement, especially when it comes to operators assessing and verifying player affordability.
Warren Russell, CEO & Founder at W2, said: “While we still wait with bated breath for the Gambling Commission to publish the result of its consultation on the Gambling Act 2005, it is clear that requirements around affordability are going to change and that operators will be required to do much more.
“Our Affordability for Gambling Tool has been developed to give operators a crystal-clear picture of the affordability of individual players but in a way that is not intrusive and does not impact their journey when signing up to a brand.
“This means that operators can meet any new requirements that come into force and avoid any potential fines and reputation damage they may be subject to in the event of non-compliance, whilst ensuring they build a true picture of their players.
“We are delighted to be developing this solution and working with other industry experts in our partners Crucial Compliance and nChain to tackle these inherent issues collaboratively.”
For more information, visit https://www.w2globaldata.com/affordability-for-gambling/