Feb 19, 2024
Department of Trust set to transform safer gambling landscape with launch of first end-to-end financial risk platform
LONDON, UK – Monday 19 February 2024 - Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling, has launched DoTrust Complete – the first dedicated platform offering end-to-end frictionless and enhanced financial risk checks to support all stages of the player journey.
The company also announced Rank Group plc, one of the UK’s largest online and land-based gaming operators, as the first live customer of the new service.
Gambling operators in the UK until now have had to rely on multiple providers to conduct financial risk, affordability, AML and other compliance and safer gambling assessments on their customers. This has led to complexity, cost and a poor player experience as well as significant regulatory penalties for poor execution. The challenge is set to increase following the UK government's review of the Gambling Act which is likely to require more frequent vulnerability checks on players even at lower levels of spend which will require frictionless and accurate assessments.
With DoTrust Complete, operators can run all necessary checks in a single platform, including frictionless income and vulnerability tests using the best available public and proprietary data, much of which has not been deployed in the gambling industry before. Operators can even design their own risk methodology and gain full auditability of decisions to ensure proportionality and meet regulatory requirements.
Commenting on the new platform launch, Michael Byrne, DoTrust Chief Operating Officer, said: “We are delighted to officially launch Complete ahead of the expected change in regulation this year. Operators now have a reliable, comprehensive and industry-first service they can rely on to meet all current and future requirements. Complete reduces friction for customers and increases certainty and efficiency for operators.”
Liam Smith, Director of Customer Operations for Rank Interactive, commented: “Rank has always been at the forefront of consumer protection and are constantly seeking ways to improve our player experience within a safe environment. DoTrust Complete is the first tool we have found that has been specifically developed for gambling operators. The efficiency and degree of control which Complete gives is impressive and we are excited to leverage these capabilities in building our business.”
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Notes to Editor
ABOUT DEPARTMENT OF TRUST
DoTrust is an award-winning provider of financial risk vulnerability checks for regulated gambling operators. DoTrust has also created the BetBudget personal budgeting tool, which is free for consumers to support healthier financial choices.
The company’s trust based approach to proof of income using Open Banking has resulted in operators achieving six-fold or better success rates when requesting confirmation of income from players compared to more intrusive methods. DoTrust Complete builds on this success to provide frictionless checks for earlier in the customer journey.
The solution is designed in anticipation of operators being required to undertake more frequent and regular evaluations as a result of the governments current review of the Gambling Act.
DoTrust was founded by industry veteran Charles Cohen, who is CEO. It has offices in London, Edinburgh and Gibraltar. It is privately held and backers include Tekkorp Capital.
For further information please visit www.dotrust.co.uk
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Ollie Drew
Square in the Air
