The Tote, a British bookmaker, has teamed with TruNarrative, a fraud-detection platform, to enhance affordability screening for its customers and provide a higher level of player protection.
The Tote Will Protect Its Customers through Enhanced Monitoring
To strengthen its player protection and provide a safe environment for its customers, following the UK regulations, the Tote has partnered up with TruNarrative. In light of its dedication to providing a safe place for bettors, The Tote is constantly looking to enhance affordability screening.
Under the deal, the Tote will gain visibility over bets, withdrawals, and deposits to boost its transaction monitoring and customer behavior. The bookmaker’s customer protection teams will gain more insight into players’ profiles.
The customer protection teams will be able to detect behavioral changes and identify players who may need intervention. Furthermore, the platform will strengthen the bookmaker’s risk rating, transaction monitoring, document verification capabilities on all of its products and provide anti-money laundering (AML) operations.
Operations Director at the Tote, Dani Johnson, said that the TruNarrative team is an excellent partner to work with, and the company is pleased to collaborate with them. He expressed confidence that they will make sure that the Tote has all the information on its customers through their time betting with the company.
With this partnership, the Tote will utilize TruNarrative technology to make sure that it can safely attract new customers, manage, transact, and protect users with a single API.
TruNarrative’s Head of Gaming Adam Doyle stated that the Tote would monitor its players and strengthen its customer lifecycle. He said that it is great to collaborate with the Tote and help the company understand players and provide a better experience.
The UK with One of the Highest Onboarding in the World
Recently, the compliance expert HooYu released its report on KYC onboarding in the UK and other markets. Although the UK has one of the highest onboarding in the world, the KYC success rate for the UK is 86%, which means that 14% of potential customers are in an untapped market.
The average operator has around a 70% retention rate. Medium operators have an 82.5% retention rate, which is less than small operators, who post 84.2%, which could be because customers want to try out a new product.
The UK May Enhances Affordability Checks
In light of the review of the UK’s gambling legislation, the UK Gambling Commission (UKGC) realized that there is a need to enhance affordability checks. The commission considers a loss limit of £100 per month as part of the operators’ solutions of player’s behavior intervention.
Last year, Playtech extended its partnership with TruNarrative for Affordability UK, with the goal to provide safer online gaming and betting experience. Affordability UK is a powerful tool that tracks the customer’s habits and behavior. The platform runs an affordability analysis to check if the player is spending beyond their capability.