Consumers will be able to link a new or existing Yoti verification to a BetBudget personal financial profile at any time. After completing this simple one-time process, future registrations at participating gambling sites can be achieved in one click.
Operators who use the combined service will have the benefit not only of frictionless registration with reduced risk of fraud, but also instant access to ongoing real-time financial KYC data for affordability, responsible gambling, and AML checks.
Officials from Yoti stated that they’re happy to partner with the Department of Trust (DoTrust) and combine their solutions to introduce a new standard of compliance and identity verification for the gambling sector. DoTrust shares the company’s philosophy to equip individuals with a safer way to share their personal information, one that protects their privacy and personal data, whilst ensuring companies have the details they need to be compliant.
The Department of Trust commented that safe, one-click identity, and financial KYC is the holy grail for gambling operators and their customers. No more forms, no more documents, and no risk to privacy. Combining this with the power of Open Banking to enable non-intrusive and effective affordability checks is a step forward for the industry.
Yoti is a digital identity technology company that allows organisations to verify identities and trusted credentials online and in person. Yoti’s products span identity verification, age verification, document eSigning, access management, and authentication. The company is certified to ISO/IEC 27001:2013 for ID Verification Services, ISAE 3000 (SOC 2) Type 2 certified for its technical and organisational security processes.
Department of Trust is a UK-based provider of financial KYC solutions. The company is registered with the UK financial conduct authority as an agent for Open Banking. BetBudget is a free personal budgeting app and website which equips consumers with information for smart budgeting decisions alongside productivity tools for managing all their gambling accounts. Consumers can use BetBudget to share the data necessary for satisfying financial KYC inquiries from gambling sites, including affordability, without having to send bank statements or intrusive checks on their credit file.
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