Tag Archives: Monzo

GambleAware publishes report and guide for financial services to help prevent gambling harm

GambleAware has published a new report analysing behavioural datasets, in order to understand if this method could be used to build a more precise picture of how people gamble, identify signs of harm, and eventually inform prevention, treatment, and support responses. Conducted by the charity’s Behavioural Insights Team, the new research examined bank transactional data from Monzo and HSBC to …

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GamCare calls on collaboration to fill gambling block inefficiencies

GamCare has called for UK financial institutions and businesses to work together in ensuring that all ‘gambling block’ loopholes are closed in order to protect vulnerable consumers. The call for collaboration follows GamCare hosting its ‘Gambling Related Financial Harm’ workshop in which diverse financial stakeholders shared insights on the design and safety features of gambling block tools used by banking …

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UKGC issues full public guidance on gambling block services

The UK Gambling Commission (UKGC) has launched its new consumer guidance campaign, providing the general public with a full breakdown of the ‘gambling block services’ currently offered by highstreet and digital banks. The campaign forms part of the UKGC’s new ‘money and rights’ section launched at the start of the year, providing the public with detailed information with regards to …

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Monzo trials ‘universal gambling block’ with TrueLayer open banking systems

Digital bank Monzo has partnered with compliance and open banking software provider TrueLayer to develop an ‘industry-wide universal gambling block’ solution for the financial services sector.  The Fintech incumbents revealed that they are trialling an ‘open-banking API’ to develop a comprehensive gambling block solution, impeding transactions between financial service providers (banks, credit cards, e-wallets, loans, etc) and gambling businesses. In …

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Monzo CEO calls for universal gambling self-exclusion

TS Anil, the new chief executive of digital bank Monzo, has published an open letter to the UK government calling for the increased enforcement of responsible gambling safeguards on UK licensed operators and financial services providers.  The statement comes as social responsibility and customer affordability take on heightened importance, with UK gambling faces imminent changes as the government undertakes its …

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GamCare backs #TalkMoney campaign to broaden public financial advice   

GamCare has shown its support for the Money & Pensions Services (MaPS) annual ‘Talk Money Week’ (#TalkMoney) national campaign, which encouraged the general public to openly speak about their personal finances. Hosted from 9-13 November, the #TalkMoney campaign placed financial concerns related to problem gambling as a key topic, as the public finance body encouraged the public to seek open …

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NatWest adds a 48-hour cooling-off period to gambling block feature

NatWest has introduced a gambling block on debit cards, giving customers the option to trigger a 48-hour cooling-off period via their mobile banking app. Any transactions attempted during that time frame will be automatically declined, with the block remaining in place indefinitely unless a customer chooses to remove it, in which case it can be disabled after the 48-hour period. …

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223,000 customers activate Monzo gambling block

Digital bank Monzo has revealed that 223,000 of its customers have activated its gambling block feature, with the number of users having more than doubled in the past year. Reported on AltFi, the digital bank confirmed that approximately 5% of its total customer base had activated the gambling block feature which allows users to stop transactions to bookmakers, both in-person …

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GambleAware partners with UoB to offer guidance to UK finance

Gambling industry charity GambleAware has outlined plans to research the role that the UK financial industry can play in the support of those who experience or are at risk of gambling-related harm as part of a three-year partnership with the University of Bristol’s Personal Finance Research Centre (PFRC). The new alliance will focus upon the mitigation of financial losses incurred by problem gambling …

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Monzo & Starling Bank launch in-app ‘gambling blocks’

Leading UK digital challenger banks Monzo and Starling Bank have added ‘gambling block’ components to their mobile banking apps, allowing for their customers to stop engaging in transactions with gambling/betting services. Considered two of the UK’s fastest growing fintech firms, Monzo and Starling seek to revolutionise retail banking, disrupting traditional current account functions and transactions through their mobile-first platforms. Launched with their …

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