FinTech firm, Armalytix, known for tackling financial delinquency and mitigating risk within the gaming sector, is joining forces with Betsmart Consulting, a group specializing in guidance on gambling legislation. Their collaborative goal is to simplify the confirmation of player funding sources.
This alliance is significant because existing procedures often result in user attrition from betting platforms due to cumbersome verification protocols. Currently, even a small red flag can trigger requests for sensitive financial records like bank statements or salary documentation. Many find this intrusive, particularly those who view gambling as a casual leisure activity.
Leveraging their combined knowledge and Open Banking technology, Armalytix and Betsmart seek to establish a more seamless and considerate procedure that balances regulatory adherence with a positive user journey.
Armalytix has partnered with Betsmart to develop a more seamless user journey, regardless of payment method or budget,” stated Richard McCall, Armalytix CEO. “Integrated affordability assessments, operating discreetly in the background, ensure an enjoyable experience without interruption.”
“Betsmart’s commitment to ethical gaming practices and comprehensive regulatory knowledge made them the ideal collaborator.”
