Global credit score data provider Experian has launched the industry’s first ‘affordability check’ tool, helping operators’ asses, identify and better understand customer risks, behaviours and affordability.
In its product notes, Experian details that the affordability check tool becomes valid at the ‘most appropriate point for customers’, helping betting firms identify account changes or specific behaviours that may indicate increased customer risks.
Experian online gambling partners will allow customers to enable affordability check functions, which reference Experian ‘Open Banking’ systems, allowing operators to understand a player’s disposable income metrics.
Updating the market, Experian has revealed that Rank Group will become the first UK operator to utilise the affordability check tool on a ‘proof-of-concept’ trial, which will launch within the coming weeks.
Rank’s Director of Customer Diligence, Rory Howard, commented: “Rank Group welcomes this initiative. It’s a fantastic opportunity for gaming organisations to work collaboratively with an organisation such as Experian which is licensed to use Open Banking. The automated exchange of data in association with advanced analytics will enable us to help our customers gamble within their means.”
Experian launches its first online gambling service, as the UK Gambling Commission (UKGC) opens an industry stakeholder consultation on credit wagering, detailing that new regulations may follow.
Furthermore, bolstering customer control safeguards, closing 2018 UK highstreet banks Barclays, Lloyds, Santander and RBS moved to introduce ‘gambling block’ components across their digital verticals.
Tom Blacksell Managing Director of B2B at Experian, backs the affordability check tool as a further UK gambling responsibility and compliance feature
“Innovative Open Banking services can help the gaming industry to protect its customers from problem gambling. 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.
“Experian is already in discussions with a handful of the biggest gaming companies in the UK, who can see the importance of this affordability check. It is one of many new services we are working on to bring the benefits of data sharing to businesses and their customers.”