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UK FCA approves Department of Trust 

UK FCA approves Department of Trust 

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Award-winning provider of financial risk assessments for safer gambling, Department of Trust (DoTrust), has received official status from the UK Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (RAISP) under the terms of the Payment Services Regulations 2017.

With its new status, DoTrust can now connect directly to dozens of UK banks and payment institutions to provide gambling operators with its low-friction and privacy-friendly model of enhanced financial vulnerability, source of funds and proof of income assessments.

Additionally, it powers its consumer-facing BetBudget personal finance tool to independently assist consumers in keeping on top of their spend, controlling their data and tracking their overall gambling P&L.

This latest development follows the provider’s recent launch of its DoTrust Complete platform with The Rank Group. The major brand is the first to use this bespoke, integrated suite of frictionless assessments which gives operators end-to-end risk evaluation of their players to spot and support potentially vulnerable customers from the moment of registration onwards.

Charles Cohen, Founder & CEO of DoTrust, says: “Becoming a RAISP is a major step forward not just for us, our customers and users, but also for the place of Open Banking in supporting safer gambling generally.

“Financial risk assessments of gamblers are different to those in other sectors and demand a bespoke approach which is sensitive to the needs of consumers and operators alike. The industry needs providers able to deliver high-acceptance, low-friction and privacy-protecting financial assessments of players which are both accurate and proportionate throughout the player journey.

“Having direct access to the banks means we can offer the highest level of service, innovate faster and ensure integrity throughout, whilst providing the best value for money in the sector.”