One of the biggest turn-offs for UK-based players is having to complete complicated and invasive affordability and AML checks at online gambling platforms. Thanks to a collaboration between MrQ.com and ClearStake, that could be a concern, which is thankfully consigned to the history books.
MrQ, widely accepted as one of the UK’s fastest-growing online casino and bingo platforms, has made a trailblazing move that could revolutionise the efficiency and security of financial compliance processes across iGaming. MrQ has implemented ClearStake’s innovative financial data request technology, which results in a more streamlined and secure process for submitting financial data.
MrQ’s Compliance Rates Boosted By 55%
The results since implementation of this new technology are impressive and damning at the same time. Compared to the long and arduous manual process we players have had to put up with for years, completing financial checks at MrQ.com now takes less than thirty seconds. As I’m sure many of you know from experience, previously, we could wait days and even weeks, following lots of back and forth with online casinos before the checks are completed. Instead, as the financial data comes directly from our banking apps, we can complete the process within seconds and minutes.
Unsurprisingly, that streamlined process has led to a 55% increase in MrQ Casino players willing to comply with these AML and affordability checks. Who’d have thought making a process easier, more secure, and ultra-convenient would lead to more players willing to undergo such checks?
The current system is quite obviously outdated, intrusive, and, at times, feels like you’re going to have to produce DNA from your long-lost ancestors along with an entire family tree before you can continue. This likely pushes UK players to sign up for unlicensed offshore online casinos rather than going through the bother of these invasive checks, meaning they are willing to take the risk of playing on unregulated platforms. Thanks to ClearStakes technology, the process, if widely accepted across the UK, will become more efficient, easy to complete, and more reliable as the data comes directly from players’ banks.
More Efficient Affordability And AML Checks
Not only are the numbers up in terms of players willing to participate, but MrQ also spends 46% less time dealing with these checks. The process is more reliable, as the information comes directly from banking institutions, which means less time having to follow up with players to request further information.
This increased efficiency of these financial checks and the uptake of players willing to participate could prove groundbreaking for the iGaming industry. In the UK, which is currently experiencing the implementation of tighter regulatory demands due to a government-issued white paper, it could indeed become a game changer.
What They Had To Say
Savvas Fellas, the CEO of MrQ.com, stated his delight at the strategic alignment with ClearStake, saying, “Combining value entertainment with robust security measures has always been a priority mission at MrQ.com. Implementing ClearStake’s trailblazing open banking technology has allowed us to improve our regulatory compliance without sacrificing the entertainment value our loyal players expect.”
Martin Burt, Founder of ClearStake, shared his enthusiasm for the link-up: partnering with MrQ, one of the leaders in market innovation, has validated the potential of our technology to revolutionise online casino compliance standards in the iGaming industry. The positive outcomes we’ve witnessed have brought us closer to our vision of a more streamlined and secure online gaming environment.”
Final Thoughts
MrQ is an online casino that needs little introduction for any of our UK readers. Launched in 2018, it hasn’t taken the casino and bingo platform to become one of the fastest-growing brands in the country, and as we highlighted in our Does RTP Matter article, MrQ is an operator that has its player’s best interests at heart
As for ClearStake, this is an innovator with the streamlining of AML and affordability checks as its core vision. The aim is to make life easier for players and operators in equal measure while also satisfying the increasingly tightening regulations imposed by the UKGC.