Yaspa Receives UK Government Grant for Safer Gambling Solution

Yaspa, a leading instant bank payment provider, has secured a government grant from Innovate UK, the UK’s innovation agency, for its Safer Gambling payments and AI platform.

The innovative web-based B2B platform developed by Yaspa integrates payments and AI technology to assist gambling operators in identifying vulnerable players seamlessly. This groundbreaking platform aims to address some of the UK’s estimated 300,000 ‘problem gamblers’.

Utilizing open banking technology, Yaspa’s platform grants operators access to player transaction data at the point of deposit, providing a comprehensive and accurate overview of a player’s activity across various operators. AI modeling is then employed to detect the likelihood of players being at risk of harm due to gambling.

By incorporating payment data, Yaspa’s solution offers a frictionless method for conducting affordability checks, surpassing traditional approaches such as paper-based checks and reliance on single-operator data.

This initiative aligns with the UK government’s proposed reforms in the gambling sector, which emphasize the implementation of seamless financial vulnerability checks for players, with open banking emerging as a potential solution.

With co-funding from Innovate UK, Yaspa will collaborate with experts in Safer Gambling and AI to develop a platform that utilizes cutting-edge data analysis to facilitate quick and easy deposits while ensuring real-time risk detection.

The Yaspa platform not only meets operator requirements and regulatory standards but also addresses the broader societal impact of problem gambling in the UK.

James Neville, CEO and co-founder of Yaspa, said: “With Innovate UK’s support, Yaspa will play a pivotal role in the future of compliance within the gambling sector. With the use of fast-growing technologies including AI and open banking, our Safer Gambling platform will reimagine how affordability checks are conducted and actioned to protect vulnerable players.

“Currently, operators view players at the single operator level, and rely on disruptive checks that risk driving people to grey markets. Yaspa’s frictionless process, combined with a pan-operator view, will transform the experience for operators and players alike.”