Gamblers win with Experian affordability check
Experian is launching its affordability check for gambling websites, which will assist in ensuring people who gamble are not at economic risk.
Gamble responsibly
Via open banking, the check can be made at the most appropriate point for customers, such as when there is a change in their account behaviour or specific behaviour that may indicate an increased vulnerability.
A total of £5.4 billion was gambled remotely, mostly online, in the UK in the year to March 2018. Until now, gaming organisations have been unable to take in to account what people can afford to stake.
Once a customer has given their permission, Experian’s service allows gaming companies to understand a person’s disposable income, their weekly income and expenditure, and how much they spend with other gambling websites.
Tom Blacksell, managing director of B2B at Experian, says: “People who choose to share data can prove they are gambling at a level they can afford, while gaming companies can meet their responsibilities to keep customers safe.”
Rank Group’s director of customer diligence, Rory Howard, comments: “It’s a fantastic opportunity for gaming organisations. The automated exchange of data in association with advanced analytics will enable us to help our customers gamble within their means.”
Rank will sign up to Experian’s new service in a proof-of-concept trial of service, launching soon.
Gambling companies may set specific rules for customers. These can be automatically accepted, declined or referred to their in-house responsible gambling team to help manage their spending.
The UK’s Financial Conduct Authority (FCA) granted Experian permission to offer open banking and PSD2-related services in June.
Starling Bank introduced a feature in June last year whereby it would block gambling transactions for those clients at risk.
