Department of Trust, a leading provider specializing in financial risk assessments to promote safer gambling, has been officially recognized by the UK Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (RAISP), in accordance with the Payment Services Regulations 2017.
This designation positions Department of Trust as a premier provider of safer gambling Account Information Services (AIS), enabling the company to establish direct connections with numerous UK banks and payment service providers. This development allows Department of Trust to offer igaming operators a low-friction, privacy-centric approach to conducting comprehensive financial vulnerability, source of funds, and proof of income assessments.
Moreover, this recognition enhances the capabilities of its consumer-focused BetBudget tool, designed to help individuals manage their gambling expenditures more effectively by offering insights into their spending patterns, data control, and overall gambling profit and loss tracking.
Achieving this status was a rigorous process that spanned over a year and underscores Department of Trust’s commitment to advancing safer gambling practices. This milestone follows the company’s recent collaboration with The Rank Group to launch the DoTrust Complete platform, a bespoke, integrated suite of assessments aimed at providing operators with a seamless, end-to-end risk evaluation of their customers. This initiative is pivotal in identifying and supporting potentially vulnerable players from the outset, further reinforcing Department of Trust’s role in fostering responsible gambling within the igaming industry.
DoTrust founder and CEO Charles Cohen, said: “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.
“Being registered as a RAISP is the gold standard of Open Banking and allows us to do that alongside our frictionless checks for lower-risk situations seamlessly and without being distracted from the task at hand. 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.
“In combination with our recently launched platform Complete, this development further reinforces our commitment to providing the tools required to ensure compliance in regulated markets around the world.”
