FullCircl, a leading identity verification platform, has unveiled its latest product tailored specifically for the gambling sector.
The company, known for its rapid and effective compliance solutions, helps gambling operators accelerate their growth while ensuring full regulatory compliance.
The development of the Financial Vulnerability Solution by FullCircl is in direct response to upcoming player safety regulations set by the Gambling Commission, which are due to be enforced from 30th August 2024. This innovative solution aims to significantly alleviate the impending pressures on operators by facilitating enhanced player protection and safety.
FullCircl operates as a single identity verification platform, primarily serving the gambling industry. Their solutions are crafted to streamline operator compliance processes, enhance player protection, and foster responsible gambling practices.
The newly launched Financial Vulnerability Solution integrates seamlessly through an API, offering gambling operators a comprehensive toolkit to create a safer gaming environment. It amalgamates a broad spectrum of financial, lifestyle, and vulnerability data to assist in the implementation of new, lighter regulatory checks. This includes, but is not limited to, CCJs, IVA, bankruptcy records, debt and credit data, and income and affordability verification.
The solution is unique in its ability to combine and match data from multiple sources, thereby constructing a singular customer view that accurately portrays potential risks with minimal impact on the customer experience. It is designed to be implemented swiftly, ensuring that operators can meet regulatory deadlines comfortably.
The product has already been adopted by one of the UK’s largest independent bookmakers, showcasing its effectiveness and the immediate benefits it offers in aligning with new legislation. This adoption underscores FullCircl’s capability to set industry standards in player protection and regulatory compliance.
Andrew Yates, CEO at FullCircl commented, “The new financial vulnerability requirements put increased pressure on gambling operators to better identify and support customers who are susceptible to harm. Technology has a key role to play in implementing these important reforms, and I’m delighted that as a global leader in player identity verification FullCircl is once again leading the way.
“We’ve taken the complexity out of compliance, assisting operators to quickly, comprehensively, and cost-effectively check every player that meets the threshold for light-touch vulnerability checks. Operators leveraging W2 by FullCircl are protecting customers and building a complete view of affordability, whilst delivering a frictionless customer experience.”
Copyright © 2024 RegTech Analyst
Copyright © 2018 RegTech Analyst
