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Money and Mental Health Launches New Three-year Programme to Help Banks Tackle Gambling Harms
The Money and Mental Health Policy Institute, the charity founded and chaired by Martin Lewis, has launched the Gambling Harms Action Lab — a three-year programme working with current account providers to develop and implement new tools to address gambling related harm.
Nationwide is the first financial services firm to sign up to the programme, signalling the organisation’s support for a collaborative approach to addressing gambling harms
The programme, funded from a regulatory settlement approved by the Gambling Commission, will bring together a group of five to seven financial services firms for an 18-month period, to explore and address common challenges to improving support for people experiencing gambling harm.
This will include a focus on how improving support and outcomes for customers experiencing gambling harms can help banks meet their requirements under the Financial Conduct Authority’s Consumer Duty, which came into effect in 2023.
The Duty requires firms to take a more consumer-centred approach to banking. Money and Mental Health’s programme will support firms to develop and test new tools and interventions aimed at improving outcomes, with direct input from the charity’s Research Community of people with experience of mental health problems and gambling harms.
Nationwide has become the first financial services firm to join the Gambling Harms Action Lab programme, signalling its commitment to progress and improve its offering for tackling gambling harms and work alongside other banks in the sector to tackle this ongoing challenge.
The Money and Mental Health Policy Institute has also released new research, looking at gambling harms in Britain and the role of current account providers to support the launch of the new programme of work.
Shining a light: Exploring the role of financial services in tackling gambling harms finds that there is a huge gap between the number of people in need of support for gambling harms and the number of people regularly accessing these services.
The report also found that under the Consumer Duty framework, there is more action that current account providers can and should be taking to address gambling harms. The Gambling Harms Action Lab will support innovation and the roll out of new interventions to ensure firms are meeting their obligations under this new framework.
Helen Undy, chief executive of the Money and Mental Health Policy Institute, said: “Gambling problems can cause catastrophic harms for those affected by them. Financial services are in a unique position to help, and it’s been great to see the progress made in recent years — particularly with the introductions of gambling blocking tools, which almost every current account provider now offers.
“But there is still a lot more to be done. We want to work with banks and other financial services to share ideas, overcome the challenges that might exist to improve support for customers, and to spread best practice across the sector. The Gambling Harms Action Lab is an important opportunity for firms to help drive that progress, no matter how advanced they are or otherwise in this work.
“We’re delighted that Nationwide have come on board with the programme, and we’re urging more firms to get involved so that we can continue the momentum in tackling gambling harms that we’ve seen in recent years.”
Kathryn Townsend, Head of Customer Vulnerability and Accessibility at Nationwide said: “Greater collaboration is essential if we are to truly tackle financial harm caused by excessive or problem gambling. It’s great to see the Money and Mental Health Policy Institute leading the charge on this with the launch of its Gambling Harms Action Lab. We are delighted to be the first financial services organisation to sign up to it and look forward to working alongside them and the wider industry to make a positive difference to people’s finances, relationships and mental health.”
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Getting ready for Xmas: SplitMetrics partnership with Wargaming helps World of Warships app sail to new heights with 15% uplift in organic conversions
The post Getting ready for Xmas: SplitMetrics partnership with Wargaming helps World of Warships app sail to new heights with 15% uplift in organic conversions appeared first on European Gaming Industry News.
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Meet Digicode and Itai Zak at SiGMA Europe 2024 in Malta to discover Game-Changing iGaming Solutions
Digicode, a global leader in IT services and technology solutions, is thrilled to announce its participation in the upcoming SiGMA Europe 2024, one of the premier events in the international iGaming industry. The event will occur at the Mediterranean Maritime Hub from November 12th to 14th, 2024.
SiGMA Europe draws top leaders, innovators, and decision-makers from across the gaming industry, providing an ideal platform for networking, knowledge-sharing, and exploring cutting-edge solutions that push the boundaries of iGaming. As a recognized hub for industry advancements, SiGMA brings together various sectors, from online gaming and emerging technology to regulation, marketing, and payments.
“We’re excited to be part of SiGMA Europe this year,” says Itai Zak, Executive Director of Digicode’s iGaming division. “This event is a significant gathering for those passionate about the future of iGaming. We’re eager to connect with partners, explore new ideas, and showcase how Digicode’s technology can help drive growth and innovation for operators worldwide.”
With over 15 years in the iGaming industry, Itai Zak is an established expert known for his leadership at prominent organizations, including SBTech and GoWild Gaming. Now leading Digicode’s iGaming division, he spearheads the development of tailored iGaming solutions that meet global industry clients’ regulatory, operational, and technological needs.
Meet Digicode at Sigma Europe
Attendees at SiGMA Europe are invited to connect with the Digicode team and Itai Zak for in-depth discussions on key iGaming topics such as regulatory leadership, market strategy, and technological advancements. At Stand 2041, Digicode will showcase its comprehensive portfolio of iGaming solutions, demonstrating how it empowers clients to excel in a competitive market. Plus, attendees will receive an exclusive event-only discount!
As a trusted global IT partner, Digicode provides innovative technology solutions across multiple industries, including FinTech, healthcare, e-learning, and digital marketing. Working with leading iGaming brands, operators, and suppliers, Digicode stands at the forefront of game-changing technology, offering reliable, integrated solutions to over 25 countries.
Sigma Europe 2024 is expected to welcome over 15,000 attendees, providing a comprehensive exhibition space and unmatched networking opportunities across the iGaming, sports betting, and emerging tech sectors. With hundreds of exhibitors and a wide array of industry speakers, Sigma Europe 2024 promises to be a must-attend event for those shaping the future of iGaming.
The post Meet Digicode and Itai Zak at SiGMA Europe 2024 in Malta to discover Game-Changing iGaming Solutions appeared first on European Gaming Industry News.
GR8 Tech is excited to announce new updates in Cashback bonuses that enhance player retention and elevate the gaming experience, empowering casino operators to drive engagement effectively. These dynamic updates introduce opportunities for personalized marketing campaigns, enabling clients to elevate their players’ gaming experiences.
Clients can now reward players with a Cashback bonus for deposits, encouraging increased engagement. Additionally, a new Cashback collection mechanism, “Turnover,” is introduced, alongside the existing “Loss” option, enabling clients to align strategies with their business needs. They also have the flexibility to credit cashback directly to a player’s main balance without wagering requirements or to the bonus balance with wagering. This flexibility allows operators to craft unique experiences for different player segments, catering to casual gamers and high rollers alike
GR8 Tech’s enhanced functionality lets clients combine Cashback bonuses with other activities, creating multifaceted campaigns for deeper player engagement. The updated Cashback bonus setup features enhanced UI/UX, making it easier for operators to configure cashback settings for specific providers and games, among other improvements, ensuring more relevant and targeted offerings. Flexible Cashback bonus settings now allow for intricate bonus customization, including Bonus payout, Bet result, Min. total amount of collected bets, Days to collect bets, and other options that make setting up bonuses even more convenient and flexible.
Finally, setting up promo materials has become simpler, enabling effective communication of offers to players.
These newly launched features empower clients to significantly enhance the impact of their marketing campaigns, draw in more players, and elevate platform engagement. With adaptable settings and advanced capabilities, they can craft highly personalized offers that precisely cater to the preferences of their audience, thereby increasing loyalty and satisfaction.
Stay tuned to GR8 Tech’s updates with monthly Platform Updates in the company blog.
The post GR8 Tech Enhances Player Experience with Innovative Cashback Bonuses Features appeared first on European Gaming Industry News.
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