AnnouncesDoTrust Complete's inaugural live customer as Rank Group
In a significant move for the UK gambling sector, The Department of Trust has launched a new service called DoTrust Complete. This innovative platform offers end-to-end financial risk checks for all stages of the player journey, aiming to streamline and enhance compliance in the industry.
Until now, UK gambling operators have had to rely on multiple providers to conduct financial risk, affordability, Anti-Money Laundering (AML), and other compliance and safer gambling assessments on their customers. This approach has resulted in complexity, cost, a poor player experience, and significant regulatory penalties for poor execution.
The implementation of DoTrust Complete by one of the UK's largest online and land-based gaming operators, Rank Group plc, signifies a significant step towards more streamlined and compliant financial risk assessments. Rank Group plc is the first live customer of DoTrust Complete, paving the way for other operators to follow suit.
DoTrust Complete is the first dedicated platform for financial risk checks specifically designed for the gambling industry. Its key features and benefits focus on providing comprehensive, reliable financial risk assessments tailored to the unique needs of gambling operators to ensure safer and regulatory-compliant operations.
Some of the data used by DoTrust Complete has not been deployed in the gambling industry before. The platform offers specialized financial risk assessment tools tailored to the gambling context, helping operators evaluate the financial backgrounds of customers and partners. It also provides compliance support to assist gambling companies in meeting regulatory requirements related to AML, responsible gambling, and fraud prevention.
Integrated data sources, including credit checks, transaction monitoring, and behavioral insights, enable thorough risk evaluations. Streamlined workflows are designed to fit seamlessly into gambling platforms for easy adoption and use. Real-time or rapid processing ensures quick yet reliable decision-making in risk management.
The benefits of using DoTrust Complete specifically for gambling operators include mitigation of financial risks related to fraud, money laundering, and problematic gambling behaviours. Enhanced regulatory compliance reduces the risk of sanctions or legal issues. Increased trust and safety for both operators and players through rigorous financial screening is another advantage. Operational efficiency is gained by using a platform specialized for the gambling environment, avoiding generic risk tools that may miss gambling-specific nuances.
DoTrust Complete aims to address the challenges faced by UK gambling operators in conducting financial risk assessments efficiently and effectively. By offering a single platform for all necessary checks, it promises to simplify the process, improve compliance, and enhance player safety in the UK gambling industry.
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- The gambling industry's financial landscape may undergo a transformation with the advent of technology, as the implementation of platforms like DoTrust Complete could transition the business from relying on multiple providers for compliance checks to a single, specialized solution, improving operational efficiency and player safety.
- The integration of advanced technology in the casino-and-gambling sector is no longer a novel concept, as demonstrated by the rise of platforms such as DoTrust Complete, which offers specialized financial risk assessment tools that leverage credit checks, transaction monitoring, and behavioral insights for improved compliance and safer gambling.
- The sports betting sector stands to gain from collaborations with finance, technology, and the business world, as evidenced by platforms like DoTrust Complete, which offer comprehensive, reliable financial risk assessments tailored to the unique needs of gambling operators, ensuring regulatory compliance, reduced risks, and increased trust and safety for all parties involved.
