In some ways, the gambling industry is not so different from any other highly regulated sector. Regulatory and compliance obligations must be adhered to and acted on accordingly- especially where vulnerable consumers are concerned.
All gambling operators must have a licence, and the Gambling Commission has powers to set licence conditions, as well as enforcing compliance. It seeks to ensure gambling is a fair and safe practice that is guided by a statutory objective for gambling licensing to protect vulnerable persons from being harmed or exploited by gambling.
This essentially functions as both a moral and legal obligation. Firms need to recognise the duty of care expected of them- as well as the penalties they may face if they fail to act appropriately.
Legal Perspective
From a legal standpoint, gambling operators should be doing far more to protect their players, and ensure that their wellbeing is prioritised.
While the Gambling Commission sets out clear regulatory requirements and guidance for gambling operators, this isn’t something that all firms are abiding by.
So far this year, there have been 14 instances of enforcement from the Gambling Commission, including regulatory actions and licence suspensions. These incidents have occurred when operators have failed to adhere to their legal obligations, and protect vulnerable players from harm.
It’s therefore clear that far more needs to be done to ensure legal compliance within the gambling industry. Operators should develop better insights into their own performance to determine whether they are acting appropriately, and set up robust internal processes to protect problem gamblers from further harm.
This is precisely why we’re on hand to help your firm identify at-risk consumers, and adhere to regulatory requirements concurrently.
Who we are
At Rdentify, our aim is simple: to protect consumers and firms alike through reliable, measurable and auditable software. This helps operators increase their accountability while complying with Safer Gambling legislation.
Utilising our many years of experience in the gambling industry, we’ve used natural language processing and machine learning models to make it much easier to identify and protect vulnerable gamblers, while minimising legal risks for operators.
Our platform builds detailed risk profiles from live chat and historical data in real time. If customers are gambling sporadically across multiple chats and agents, you’ll be able to track their activities- especially those all-important signs of self-exclusion.
This innovative technology integrates seamlessly with your in-houses systems, making it simple for agents to use. Through our easy to understand 1 to 5 scoring system, we alert problem gambling risks to front line staff, who can then provide the assistance that vulnerable consumers need. You’ll be able to visualise your risk data with pinpoint accuracy, and perform in-depth trend analysis of your entire customer base on the Rdentify User Interface.
Rdentify gives firms an opportunity to increase their accountability by reviewing customer bases, and ensuring appropriate actions are completed. This lowers the risks of fines through actionable customer problem gambling risk flags based on all previous interactions with the customer.
Consistent use of our cutting-edge AI platform therefore has the capacity to enhance your processes, lower your operational and legal risk, and demonstrate to regulators that you take the protection of your customers seriously.
Why we can help
Our state-of-the-art platform allows legal firms to identify vulnerable people looking for quick money to prevent them from fake claims online. For clients who are at particular risk, Rdentify offers automated customer journeys that ensure vulnerable consumers are referred to the appropriate channels. This helps you reduce strains and costs to your business.
By harnessing the power of our NLP technology, customers that are looking to spend or take on debt that they can’t afford can be identified, monitored, and stopped in real time. Not only will you be able to fulfil your legal obligations as a firm, but you’ll also be able to put customers at the heart of your business with ease.
Solicitors will then be able to quickly direct vulnerable customers to legitimate financial help and hardship advisors, enhancing their reputation while complying with regulatory requirements. This also saves hours of time, as well as thousands of pounds in solicitor admin fees.
Firms that are serious about exceeding compliance and safeguarding their most vulnerable consumers can reap the rewards of sophisticated machine learning. It has the power to make the gambling industry safer, and uphold the reputation of operators simultaneously.
Interested in learning more about how you can legally protect your business? Contact our team of experts today.
You can also book your free demo here.
