UK FCA Approves Department of Trust as AIS Provider

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UK FCA Approves Department of Trust as AIS Provider, the acclaimed provider of financial risk assessments for safer gambling, is now officially recognized by the UK’s Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (RAISP) in accordance with the Payment Services Regulations 2017.

The registration designates Department of Trust as the exclusive AIS provider for safer gambling. With this status, it can directly link to numerous UK banks and payment institutions. This facilitates the delivery of low-friction, privacy-friendly assessments for enhanced financial vulnerability, source of funds, and proof of income to gambling operators.

Furthermore, it empowers the BetBudget personal finance tool for consumers, aiding them in managing spending, maintaining data control, and tracking overall gambling profit and loss independently.

This recent achievement, over a year in the making, comes after the introduction of the DoTrust Complete platform with The Rank Group. As the inaugural user, the major brand employs this customized, integrated suite of seamless assessments. It provides operators with comprehensive risk evaluation for identifying and assisting potentially vulnerable customers, starting from the registration phase.

The founder and Chief Executive Officer for Department of Trust, 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 that 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 that 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, DoTrust Complete, this development further reinforces our commitment to providing the tools required to ensure compliance in regulated markets around the world.