W2 Launches Industry-First Real-Time Affordability Check

It’s a new year and a chance for operators to start on a clean slate with safer gambling at the heart of their approach.

For operators licensed by the UK Gambling Commission (UKGC) this is more than just a friendly suggestion. Especially as the UKGC spent most of 2020 setting new rules and regulations in place to improve player safety.

The launch of W2’s first real-time affordability solution just might be the answer that operators need in 2021.

 Prioritising Affordability

W2 started the new year with the launch of a real-time affordability check solution. The idea was to create a platform that supports operators needing to adapt to the constantly evolving UK Gambling Commission compliance guidelines.

Currently, it is required that operators should make affordability the focus of their safer gambling commitments. It is believed to become a central focal point within the Gambling Act review throughout the year.

The main reason for affordability becoming a top priority is due to a range of fines stemming from affordability failings.

 W2’s Real-Time Affordability Solution

UK operators can make quick work of cleaning their sites and complying to UKGC guidelines by making use of the W2 Real-Time Affordability Solution. It provides a real-time view of what consumers earn on an individual level while removing the need for one-on-one customer interaction.

It makes use of authorised and compliant banking data feeds, used for customer protection purposes. The solution can cover a period of up to 24 months across sole and joint accounts which includes multiple addresses.

According to W2 Head of Sales, Peter Murray, it is clear that regulators in the UK are placing focus on affordability. That along with the upcoming review of the UK Gambling Act has created a need for a solution that removes friction while still remaining compliant.

Murray is confident that this new Real-Time Affordability Solution is a 3-in-1 as it meets the needs of the regulators adapting to the challenges operators face and the consumer’s desire to be protected from harm.

He made a point to state that this solution is only to be used by operators as a tool for enhancing responsible gaming, and not as a way of acquiring information to influence marketing to players.

Operators have two levels of use available with level one offering an affordability index and level two offering more in-depth insight allowing operators to collect and verify the declared income of the customers.

According to W2 Senior Product Manager, Kevin Fox, these two components are a massive step in the right direction for safer gambling.

 Strategic Partnerships

W2 has partnered with the Gibraltar-based company, Crucial Compliance in order to bring this affordability solution to the market.

The firms work closely together striving to use this product as a means to reduce issues surrounding responsible gambling, increase player protection, and make an overall positive impact on the industry.

COO has revealed that since they partnered with W2 late in 2020, resources have been combined to bring this frictionless, real-time, real-data affordability solution to market. It has also been built into the Crucial Compliance player management solution.

With W2’s new Real-Time Affordability Solution, meeting the needs of regulations now and in the days to come will be much easier.