Metrics Monthly | March 2020 | UK Edition

position where they have a window to act. My hope is that they do not leave it until it is too late.’ Mr Wylie says gambling operators must ensure they have rigorous consumer checking in place, something which is now possible thanks to Open Banking. Such ‘real-time’ checks should include all key income and spending data, so that a prospective gambler who cannot afford to gamble, does not. ‘A gambling operator needs to be able to point the regulator to a convinc- ing electronic audit trail to justify its actions, rather than a collection of tick- box pages and a photocopy of an old bank statement. Those that cannot do this, or do not plan to have this in place,

are asking for trouble,’ added Mr Wylie. Open Banking effectively forces banks to share their line-by-line detailed cus- tomer statement data with third parties, known as Account Information Service Providers (AISPs). Anyone can access 100% accurate real-time data on con- sumers via AISPs, such as LendingMet- rics, that provide automated underwrit- ing tools. Someone applies to gamble, agrees to limited timeframe and read-only access to their accounts, and thousands of lines of transactions can be analysed by computer. In an instant, this can pull out salary details and all financial commit- ments, to be then tested by algorithm to determine whether this individual

should gamble. Inadequate finances and other gambling accounts will be flagged.

Above: LendingMetrics Managing Director David Wylie

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