Connect with us

WINNING COMBINATION - SOFTSWISS develops innovative iGaming software products for online casino, sports betting, and beyond. Our products can be delivered as standalone solutions or combined into a single iGaming Platform.

The future of sports betting: BETBY sportsbook is focused on innovation through deep industry knowledge, state-of-the-art software & endless customization possibilities.

Latest News

Armalytix to Help Buzz Bingo Safeguard its Customers

Published

on

Reading Time: 2 minutes

 

New partnership to streamline financial risk checks and enhance customer experience

Leading data intelligence fintech Armalytix today announce a partnership with Buzz Bingo, the largest omni-channel bingo brand in the United Kingdom (UK). The use of technology to prevent gambling harm and protect the vulnerable marks an important step by one of the UK’s leading operators in the gambling industry.

The new partnership has seen Buzz Bingo deploy Armalytix’s best-in-class tools across their customer base in a bid to meet the gambling industry’s increasingly stringent regulations. These new tools have allowed Buzz Bingo to address the twin issues of player financial risk by spotting evidence of harm and vulnerability and potential financial crime without creating undue friction in the customer process.

The partnership has borne fruit after a number of months of working together with Buzz Bingo already recording a two-and-a-half-times increase in customer completion rates of financial risk checks. The tools have also led to an almost three-times increase in the speed at which they have been able to complete these checks, with 65% completed on the same day a check was started and 80% within three days.

“Working with Armalytix has resolved the issue of a complex and laborious process of customers locating and sending in personal and financial documents, which we’re delighted to see has led to an increase in uptake and quicker completion rates,” the Chief Compliance Officer for Buzz Group, Simon Reynolds, said. “The unique insights and summarized information that we get from Armalytix have proved hugely valuable and enable us to keep our customers safer by making decisions on affordability faster and more accurately.”

Armalytix’s unique modular process used to capture customer data securely has helped Buzz Bingo to streamline separate processes into one; such as allowing the submission of a customer’s ID document and payslip at the same time.

Financial risk checks have traditionally been manual, inconsistent and unscalable with recourse to bank statements provided by the client. However, solutions utilizing Open Banking and other technologies have made these checks fast, convenient and, most importantly, effective.

Armalytix’s tools have helped to simplify and quicken the customer journey across a number of industries with the ability to collate all necessary data. For gambling operators, this auditable and consistent output aligns with regulations and allows a scalability that no manual process can.

“Often we find clients undertaking regulatory checks manually and using open-source data that doesn’t address the circumstances of the customers,” the Chief Executive Officer for Armalytix, Richard McCall, said. “Our tools help to address player protection requirements and speed up decision-making substantially.”

Armalytix also recently partnered with BetSmart Consulting, a leading gambling compliance consultancy, which will see the pair continue to work together to design rigorous checks for gambling operators across the UK.

This partnership with Buzz Bingo demonstrates Armalytix’s effectiveness in the gambling and gaming industry after success in the legal, accounting and financial services sectors.

Alan Campbell began reporting on the global gaming industry from the late-1990s after graduating from university with a degree in journalism and history. His career has included collaborations with a large number of traditional and digital publications from around the globe with the experienced professional having covered a plethora of topics, companies, regulatory developments and technological innovations.

Trending (Top 7)

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.