The Gambling Commission has provided an update on the progress of its financial risk assessment pilot, following the completion of the first phase. The pilot, aimed at testing frictionless financial risk assessments, leverages data from gambling companies and credit reference agencies to evaluate customer affordability without direct intervention.
The pilot was first announced in May 2024 and officially commenced in September 2024, with plans to run through April 2025. The project is divided into three stages, with the first phase now completed. This initial stage focused on analyzing historical data from inactive customers, providing insights into data quality, system understanding, and potential implementation issues.
Stage one has been described as “a pilot of the pilot,” involving 530,000 assessments across approximately 300,000 accounts. Data from three credit reference agencies was used to evaluate the effectiveness of frictionless assessments.
The results from the first phase indicated promising outcomes, with 95% of assessments meeting the criteria for a frictionless process. The remaining 5% of assessments faced various challenges:
- Just over 4% were unsuccessful due to credit reference agencies being unable to identify the customer, resulting in missing information.
- Less than 1% of failures were attributed to data formatting issues, invalid entries, or duplications in the data.
Based on these findings, the Gambling Commission plans to focus on improving operator understanding of different credit reference agency systems in the upcoming phases. The next stages will likely address the issues identified in the first phase to enhance the overall accuracy and efficiency of the assessments.
In related news, the Gambling Commission recently released a report examining the link between gambling behavior and Problem Gambling Severity Index (PGSI) scores. The report draws on data from the Gambling Survey for Great Britain (GSGB), offering valuable insights into gambling habits and associated risks.
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