MrQ.com, a rapidly growing online casino in the UK, has experienced a significant surge in player participation in affordability and source of funds checks following the integration of ClearStake’s tailored financial data request solution.
With ClearStake integrated into its platform, MrQ allows players to securely share financial data through their banking app in less than 30 seconds, streamlining the process compared to manual document submissions.
Now, 55% of MrQ’s players are seamlessly submitting their financial data, challenging the notion that players are unwilling or unable to provide the necessary information for affordability and AML checks.
The decision to adopt ClearStake was part of MrQ’s comprehensive review of its processes, aimed at addressing challenges related to manual document requests and analysis, which historically resulted in low player engagement.
In addition to increasing player participation, ClearStake has enabled MrQ to reduce affordability and AML case review times by 46%. This efficiency is achieved through seamless follow-up requests and the use of reliable data verified directly from the bank, minimizing the risk of fraud, errors, and unreliable OCR extraction associated with physical document submissions.
MrQ’s success serves as a reassuring example for other operators navigating the growing complexity of compliance checks, particularly as the UK Gambling Commission moves forward with the recommendations outlined in the white paper.
Savvas Fellas, Founder & CEO at MrQ.com, said: “At MrQ.com we are committed to our mission of offering ‘value-entertainment’. In today’s regulatory landscape this goes hand-in-hand with the security and well-being of our players without negatively impacting their entertainment experience or worse, discouraging them to seek their entertainment from within the regulated space.
“We are constantly looking into new ways of navigating our regulatory obligations by embracing new and up-and-coming technology services. We share ClearStake’s vision on the utilisation of open banking technology and leverage this to keep our learning curve ahead of those around us.
“ClearStake offers MrQ a strong route towards achieving seamless affordability and AML checks. ClearStake’s feature-rich platform, player-centric design and speed of integration made them the clear supplier of choice, and we look forward to furthering the capability of the technology around thresholds like Standard Due Diligence and our Enhanced Due Diligence checks.”
Martin Burt, Founder of ClearStake, said: “We are delighted to be working with such a forward-thinking market leader who share our vision of how new technology can transform an industry.
“This partnership with MrQ demonstrates that ClearStake’s technology is trusted by the industry’s leading brands and is a fantastic testament to the strength of our product.
“We are thrilled with the results to date which unequivocally demonstrate players’ willingness to share data when required. Furthermore, we are excited by the opportunity to fully automate once resource-intensive compliance processes and continue to delight both players and operators alike.”
