Financial technology firm, Armalytix, known for its focus on fraud mitigation and risk evaluation within the gaming sector, has partnered with Betsmart Consulting, a top firm offering legal and compliance guidance for the gambling industry.
This collaboration seeks to simplify the frequently complex procedure of verifying the origin of funds for online gambling sites. Utilizing Open Banking technology, their goal is to make it simpler for users to demonstrate their ability to cover their bets without compromising their personal information.
This enhancement is greatly needed, as existing methods often result in dissatisfaction and customer attrition. Betsmart CEO, Kirsty Caldwell, highlights that requesting bank records and salary documentation from players simply because their expenditures exceed an arbitrary threshold feels invasive and excessive. This alliance aims to deliver a more seamless and considerate experience for all parties.
Richard McCall, the top dog at Armalytix, was visibly pumped about their recent collaboration with Betsmart. “Essentially, we’ve joined forces to build an incredibly streamlined user experience,” he elaborated. “Picture this: we’ll be reviewing individuals’ financial situations at various stages of their wagering activity, ensuring they’re gambling within their means. The cherry on top? It all happens smoothly behind the scenes, without any inconvenience to the customer.”
He continued, heaping praise on Betsmart, “This team is the real McCoy – they understand responsible gaming regulations inside and out, and they genuinely prioritize the well-being of their users. It’s a match made in heaven!”
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