W2 has introduced a new real-time affordability management solution to meet the needs of operators adjusting to the UK Gambling Commission’s changing compliance guidelines (UKGC).
UKGC guidance requires licensees to place affordability at the center of their 2021 safer gambling commitments, which will inevitably become a key focus in the review of the Gambling Act, particularly when too many fines have emanated from failures in affordability.
The W2 affordability solution provides operators with a real-time view of what a consumer receives at an individual level, but most importantly, without the need for external customer contact.
The solution will cover a span of up to 24 months and through joint and sole accounts, as well as multiple addresses, by using approved and compliant banking data feeds that can be used for client security purposes. Data on this scale, the company said, offers real insights at the level of an individual client.
What was said…
W2 Head of Sales, Peter Murray, commented: “If you look at any of the pronouncements from the regulators in the UK and the upcoming review of the UK Gambling Act, front and centre to everything they’re doing is affordability.
“For us at W2 it is all about offering a solution which removes friction but is compliant, and we believe that this new affordability solution is suited to both the needs of the regulator, the challenges the operators face, and the consumers desire to be protected from harm.”
Murray emphasized that only operators must use the solution to ensure responsible gaming, and not as a way of collecting information to manipulate players’ marketing.
W2 Senior Product Manager, Kevin Fox, added: “The solution is split into two main parts. Level one offers an affordability index which leverages the data to give results on account activity including levels of income and turnover in the account and collates this into a score-based response.
“Level two offers more in-depth insight which allows the operator to collect and verify the declared income of the customer. These two components are a massive step in the right direction for safer gambling.”
W2 will also focus on the release of the affordability solution with its strategic partner, Gibraltar-based Crucial Compliance. Together, the two businesses agree that by dramatically mitigating concerns surrounding responsible gaming and player safety, it will have a positive effect on the industry.
Crucial Compliance’s COO, Andy Masters, commented: “We are absolutely delighted to officially release this affordability solution. Since partnering with W2 in late 2020 we have combined our resources to bring to market a solution which is not only frictionless and solves real time, real data affordability, but is also built into our player management solution.
“We have worked hard to ensure that this is as easy as possible for operators to continue to meet the needs of the regulators now and in the future.”