W2 has released its latest gambling tool that aims to allows operators to conduct affordability checks without affecting the customer’s experience.
Entitled Affordability for Gambling Tool, the product combines data assets from numerous sources at the individual, demographic and geographic levels on a ‘where available’ basis. This is said to allow operators to gain insight into multiple affordability indicators.
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.”
Furthermore, W2’s product will be delivered via the Crucial Compliance Player Protection tool that will see custom data consumption, either through API integration at onboard or trigger based on various markers of harm, ongoing monitoring for changes in player circumstance and verifying declared income without the need for documentation.
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.