The move will help gambling firms streamline and enhance the customer journey and optimise safer gambling processes
Armalytix, a cutting-edge fintech company that streamlines financial insights for financial crime and risk checks to the professional, financial services and gambling sectors, announced today that it has partnered with leading gambling compliance consultancy Betsmart Consulting.
Together they will provide gambling operators with a combined solution of tech-enabled affordability and Source of Funds checks alongside expert advice around the building of customer journeys, both from a regulatory compliance and a user experience perspective.
Powered by Open Banking technology, the offering provides operators with a fast, easy and non-intrusive way to take customers through the necessary checks. Betsmart have designed these checks for gambling operators using their extensive knowledge as the leading compliance expert in UK gambling.
Armalytix is an instant, plug and play solution that has been developed for gambling by regulatory compliance experts who understand all aspects of the industry, and want to tackle the problem of affordability and financial crime in gambling, making sure that the customer journey is both simple and compliant. It is simple and quick to integrate into any existing processes whilst being customisable to an operator’s individual needs.
Operators can trust this process to deliver the information and insights required to meet existing and future gambling regulatory standards to ensure customer welfare.
“As the industry has strengthened its approach in these areas, it has seen a significant commercial drop off, as customers who hit low level triggers are asked to provide PDF bank statements and / or payslips to verify how they are able to fund their gambling,” said Kirsty Caldwell, Betsmart’s CEO:
“From a customer perspective, this type of check often feels unnecessary and intrusive. Having to provide this level of personal information to a company they use for purely leisure purposes will likely prompt them to cut their losses and move to another operator. Add to that the long winded, clunky customer journeys, which often compound the problem. There’s now a much better way.”
Betsmart Consulting was founded to help make gambling a healthy and respected industry, which provides a safe and fair environment for customers to enjoy, whilst enabling businesses to thrive. This partnership marries subject matter knowledge and expertise with cutting edge technology to enable engage better customer engagement with gambling firms.
“Working with Betsmart, we have developed a range of customer journeys to cover different levels of Source of Funds and affordability checks, which should take place at different stages of the gambling journey without being intrusive or posing as a hindrance to the customer. Betsmart make perfect partners, with their invaluable expertise in regulatory compliance and dedication to customer welfare,” said Richard McCall, CEO of Armalytix.
Armalytix is a leading supplier of compliance checks in the legal, accounting and financial services sector, and as such can provide an appropriate level of check to meet the regulators and operators’ requirements.
This article was submitted to be published by Armalytix as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
