TruNarrative celebrates the 3 year anniversary of its financial crime and decisioning platform with a new look

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Leeds based RegTech firm, TruNarrative are celebrating the third anniversary of its platform which has transformed the way businesses; onboard their customers, ensure compliance with regulation and prevent financial crime.

Marking the occasion, TruNarrative unveils a new look, to ensure its brand reflects their innovative, forward-thinking technology and prepares the company for future growth.

TruNarrative was founded in 2017 through a partnership between Yorkshire Fintech Entrepreneur, John Lord and Larry Smith, a high-net-worth serial technology entrepreneur from California.

The founding team included, John, Ryan Morrison, Mike Harriss and Dave Eastaugh – industry experts with over 100 years of combined experience in the data and technology space, had all previously worked together at GB group plc, where John was the group managing director.

Their mission was to create a unifying platform for workflow, orchestration & decisioning for the prevention of financial crime, available to businesses of all sizes through Software-as-a-Service (SaaS) and Data-as-a-Service (DaaS) technology.

TruNarrative now boasts sales exceeding eight figures and has many high-profile customers including some of the world’s largest challenger banks, gambling organisations and leading payment services businesses.

TruNarrative’s customers benefit from the latest AI-driven Onboarding, Risk Rating and Transaction Monitoring technology for Fraud Prevention, and Anti-Money Laundering (AML).

Delivered through their cloud-based SaaS, TruNarrative’s Risk & Financial Crime platform has close partnerships with over 100 pre-integrated third-party data sources covering 150+ countries.

In February of this year, TruNarrative also launched a simplified version of their technology, serving high street professional services, and have customers across accountants, lawyers, estate agents and procurement managers.

The Technology firm currently employees over 60+ people in their Leeds office, and is set to expand significantly within the next twelve months.

Unveiled in July, the rebrand sees TruNarrative make significant aesthetic changes across their product logo, website and marketing collateral.

“4 years ago my team and I had an idea, that financial crime, customer onboarding and compliance could be orchestrated in a single SaaS solution. That idea has now grown into one of the UK’s leading RegTech firms, employing 60+ in our office above Leeds Kirkgate Market.” John Lord, Chief Executive Officer & Co-founder at TruNarrative


Charity launches new best practice guide to help banks step up action to reduce gambling harms

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The Money and Mental Health Policy Institute has today launched a new best practice guide to help banks and building societies step up efforts to support the growing number of customers affected by gambling harms.

Money and Mental Health’s research shows that banks and building societies can play a crucial role in reducing gambling harms, thanks to the unique insight they have into customer’s spending behaviours.

The new guide sets out ideas and advice on how banks can better identify and reach out to customers at risk, and empower them with support and tools to manage their financial situation. It has been produced to help banks follow the Financial Conduct Authority’s guidance on the fair treatment of vulnerable customers, with recommended actions all relating to relevant sections of the FCA guidance.

Developed in collaboration with financial services professionals — and drawing on the testimonies of people with lived experience of gambling problems — the guide focuses on three key areas where banks can make the biggest difference in supporting those at risk:


  • Creating a culture of support, and ensuring staff are equipped to help. Suggested actions here include making gambling a focus in plans to help vulnerable customers, providing frontline staff with training on gambling problems, and putting in place internal systems and resources to help staff support customers at risk.

  • Identifying and reaching out to those at risk. The guide offered advice on how banks can use customer transaction data in an appropriate and ethical way to spot those at risk, and ensure that their communications about problem gambling are as supportive and effective as possible.

  • Supporting and empowering those at risk. The guide lists measures firms should consider to support and empower those identified as being at risk — from providing signposting to external sources of help, to offering tools such as settings to block gambling transactions on cards and other kinds of spending controls to help them manage their finances.


Recognising that different firms have made varying degrees of progress in supporting customers with gambling problems, the guide is designed to offer ideas and encouragement to all banks on actions they can take. It sets out three levels of actions that firms can take: essential first steps all banks should start with, more advanced measures they could consider and actions they can take to lead the sector in tackling gambling harms.

Helen Undy, Chief Executive of the Money and Mental Health Policy Institute, said:

“Gambling problems can cause utter devastation for those affected and their loved ones. Banks are in a unique position to help, and we have been hugely encouraged by the progress made in recent years, especially with the increasing number of banks offering the option for customers to block gambling on their cards.

“But there are still important opportunities for banks to build on this progress and to step up support for those at risk. We hope this guide can equip firms with the practical advice and ideas they need to take the next steps in improving support for customers, no matter how advanced or otherwise they are in this work.

“We’ve worked closely with frontline financial services professionals, and people affected by gambling problems, to ensure this guide is as relevant and practical as possible. But we’ve also set out ambitious ideas for how the sector can go further in making a real difference in reducing the harms that gambling problems can cause.”

Tim Miller, Executive Director at the Gambling Commission (the regulator for the gambling industry), said:

“To have a real and lasting impact on tackling gambling harms there must be a multi-sector partnership approach, and the financial sector has a particularly important role to play. This guide sets out useful ideas and steps firms can take to help protect those at risk, building on the progress they have made over recent years. We hope it will help financial services firms to continue to have a meaningful impact in reducing the financial and other harms which can result from gambling problems.”

Money and Mental Health’s guide is published as part of a two year programme of work the charity is undertaking, aimed at increasing action among financial firms towards reducing gambling related harm. The charity has secured funding through a Regulatory Settlement approved by the Gambling Commission to support this work.


Spreadex reaches the Premier League after multi-million-pound shirt deal with Burnley FC

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UK betting firm Spreadex has reached the Premier League by becoming the principal front of shirt partner with Burnley Football Club for the coming season.

The Spreadex Sports logo will be worn by Clarets players across the home, away and third kits during Burnley’s sixth consecutive top flight campaign.

The new 2021-22 kits will be revealed later this week, while Spreadex will work closely with the club on a range of community and charity-based initiatives across the course of the season.

The multi-million-pound shirt deal also includes rights, such as LED perimeter board advertising, player access across the season, and presence across Burnley’s website, CRM and social media channels.

Spreadex is the only company in the world to offer customers access to traditional sportsbook betting as well as sports spread betting and financial trading.

The firm, which now employs more than 150 staff at its headquarters in St Albans, has been operating since 1999 and is regulated by both the Gambling Commission and Financial Conduct Authority due to its unique product offering.

Spreadex CEO Dave MacKenzie said: “We are delighted to join the Burnley FC family as main sponsor at an exciting time in both the club’s and our own futures.

“This deal reflects the ambitious growth plans Spreadex has as a company, and we’re thrilled to be partnering with a superbly-run club with such an established history and reputation.

“Burnley’s values and ambitions echo our own, and we’re looking forward to supporting the club throughout the 2021/2022 season both on and off the pitch.”

The firm will also be running a range of fan engagement activities through its digital channels, including ticket competitions, opportunities to win signed shirts and other exciting promotions.

Ella Cummins, Burnley FC’s Head of Commercial Partnerships, added: “We are delighted to welcome Spreadex as our new principal partner and have been impressed with the commitment they have already shown supporting fan initiatives and giving back to the community. We look forward to working together over the coming season on some exciting campaigns and are thrilled Spreadex has chosen Burnley Football Club for their first sports partnership.”

Burnley Football Club has also pledged to donate £5 for every third-choice shirt sold towards Alzheimer’s Society, which Spreadex will match.

Ella continued: “We’re very proud of the pledge to donate £5 each for every third-choice shirt sold which will provide support for those affected by dementia following the devasting effects COVID has had on people up and down the country.

“We know this is a cause close to Burnley fans’ hearts and we’ll be working closely with Alzheimer’s Society this season on projects to continue this important conversation.”

Players will wear the new home kit for the first time in a pre-season game against Oldham Athletic on July 24.


UK Online Gambling Yield Declines in May

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The UK Gambling Commission (UKGC) has published further data showing how the evolving Covid-19 lockdown measures have impacted online gambling behaviour in Great Britain.

The operator data reflects the period between March 2020 and May 2021, inclusive, and covers both online and, where relevant, some offline gambling operator data, noting that land-based premises have only recently been able to open since closing in December.

Activity in the online market decreased in May with active accounts and gross gambling yield (GGY) both decreasing 14% and 5% respectively, while total bets remained at a similar level.

Slots GGY increased to £211m during the period from April to May. The number of spins increased 2% and active players decreased 5%.

The number of online slots sessions lasting longer than an hour decreased by 1% (to just below 2.6m. The average session length increased to 20.7 minutes, with nearly 9% of all sessions lasting more than one hour.


GamCare Expects Rise in Phone Calls Due to Lockdown and Summer of Sport

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With lockdown restrictions easing and a summer of sport ahead, staff at British gambling support charity GamCare say the full impact of the Euros is still unknown and are preparing for an increase in calls to their helpline over the coming months.

Regular gamblers are known to have spent more time and money on the activity during the lockdown. The charity is concerned that this, combined with a summer of sport, could heighten the vulnerability of some gamblers and is calling for increased support for people at risk of gambling-related harms, including young people and recovered gamblers.

Anna Hemmings, Chief Executive at GamCare, said: “We know that people who use our services find it difficult to enjoy live sport, especially football tournaments like the Euros, in their recovery. With so many sports events over the summer, coupled with the difficulties people have experienced in the pandemic, we’re concerned we may see a spike in helpline calls over the coming months. We urge anyone who is struggling with gambling to contact us, whether it’s their own or someone else’s gambling. We want you to know we are here for you, we understand, and we can help you. If you think someone you know needs support, please get in touch.

“The vast majority of those reaching out for help are gambling online. The experiences of our helpline callers and our research consistently show this to be an area of concern for us and the people that use our services. Our latest helpline and treatment data shows online gambling has increased over the pandemic. We will certainly monitor this trend to see if it continues as lockdown is lifted. This is an important detail as the government continues with the review of the 2005 Gambling Act, working to bring about effective change to protect those who need it most.”

CashMagnet Ltd Expands its Offering by Acquiring

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CashMagnet Ltd announced today, 15.07.2021, that they had acquired The website acquisition further cements CashMagnet as one of the world’s leading affiliate marketing companies and achieves its goal of diversifying its product and service offering.

Expansion into new verticals

Although Cashmagnet Ltd is already active in several verticals, the company is constantly exploring different industries and niches. Bingo is one of the most popular games in the UK, enjoyed by millions of players. With a bespoke online Bingo comparison site, CashMagnet will now be able to better cater to the needs of these players.

Chief Operating Officer and Co-Founder of Cashmagnet Ltd, Paavo Salonen, says: “While growing and improving our online casino comparison portal, Mr, remains our primary focus, our mission statement since the very beginning has been to serve all gamblers. We want to make it as easy as possible for players to find what they are looking for, be it bingo sites or casino bonuses. With a dedicated bingo comparison site, we will be able to achieve this goal more effectively.”


Wolves Esports Teams Up with GR Racing

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Resuming a partnership that started last year at the Le Mans Virtual 24 Hours, Wolves Esports and GR Racing have linked up once again to take part in sim racing as Wolves GR Esports.

As per reports, two drivers have joined Wolves GR Esports in order to compete in tournaments. The first one is Adam Maguire, who starred as one of the drivers in the Wolves liveried GR Racing car at last year’s Le Mans Virtual. The other driver is 22-year-old Liam de Waal.

Wolves GR Esports team will make its competitive debut in the Formula Pro Series, taking place on the rFactor 2 platform. The series will consist of six races, one every two weeks, with the debut race of the team taking place on 19 July, held on the Belgian track of Spa-Francorchamps.


GAMSTOP is putting vulnerable online consumers back in control

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More than eight out of ten (82%) consumers have stopped or reduced their gambling since registering with GAMSTOP, according to the first independent evaluation of the UK’s online self-exclusion scheme.

The report by research consultancy Sonnet, based on surveys of more than 3,300 users and in-depth interviews, found that 84% felt safer from gambling-related harm and more in control of their gambling after registering with GAMSTOP. Eight out of ten (80%) said that the self-exclusion scheme had delivered on their intended outcomes, whether they wanted to stop gambling completely, reduce their gambling or simply to take a short break.

Although financial losses were often an important trigger for registering with GAMSTOP, consumers also reported significant improvements in their well-being:

  • 77% felt more in control of their personal or household finances
  • 72% reported improvements in their levels of anxiety and stress
  • 63% enjoyed an improvement in the quality of their family relationships
  • 60% found they were better able to focus at work
  • 40% reported they were consuming less alcohol

The report’s recommendations include:

  • Longer self-exclusion periods – currently, the maximum self-exclusion is five years, which had been selected by 71% of consumers surveyed, but four out of ten wanted the option of excluding themselves from all online gambling for longer
  • Helping consumers to access specialist support – 53% of GAMSTOP’s users have not previously used gambling-related support services so the scheme can be a bridge to other organisations offering help with gambling addiction by working more closely with them
  • Actively engaging with family and friends of consumers – only 28% of consumers were supported by friends or family, with many too embarrassed or ashamed to seek help, so raising awareness of the service among those affected by a loved one’s gambling will provide a broader support network for consumers and their families
  • Responding to the threat posed by unlicensed gambling websites – The scheme’s users are deliberately targeted by unlicensed sites – an issue highlighted in GAMSTOP’s response to the DCMS Gambling Act review – and 10% reported accessing them while self-excluded so greater controls on these sites are required to prevent them being exposed to temptation
  • More research into the harmful effects of advertising – consumers consistently expressed their frustration at being exposed to gambling advertising and wanted greater protection

More than 200,000 consumers have registered with GAMSTOP since the scheme’s inception in 2018. The report found that GAMSTOP had reached a broad cross-section of the population across all demographic groups.

Women aged over 44 were identified as an important demographic, making up 53% of all women surveyed, and the report recommends reaching out to older age groups more generally, together with specific initiatives aimed at people with below national average income. It advocates a marketing strategy to target high-risk groups, making the service more visible through online searches and on operators’ websites.


The report concludes:

“This study shows very strongly that GAMSTOP is successfully achieving a reduction in gambling-related harm with far-reaching positive impacts for consumers being clearly shown in our interviews and survey… Our findings show that GAMSTOP is effective across all age groups, gender groups and, importantly, for all types of online gambling.

The vast majority (of consumers) report a very positive experience of using the service, and our research highlights that it is effective both in terms of delivering consumers’ objectives but also in alleviating a wide range of gambling-related harms”.

An office worker in his 30s, who was spending up to £300 per spin on online slot machines and ran up debts of more than £10,000, registered with GAMSTOP after his partner left him and he feared losing his job. He told researchers that, having self-excluded for five years, he felt safe from temptation during lockdown and has stopped gambling completely. He is now paying back his debts to family and friends and said: “I think this service saved my life. Best thing I ever did is cancel my demons by using this amazing service”.

A delivery driver in her mid-twenties, who was spending almost her entire weekly wage on gambling, and had tried self-excluding from individual websites, found that registering with GAMSTOP helped her take control of her gambling. She is getting married this year and has built up her savings. With the support of her family and partner, she has restricted herself to the occasional £5 bet on football at high street bookmakers and intends to renew her self-exclusion every five years to resist the temptation of betting online.

She said: “The last year I haven’t gambled at all, it was hard at first but now I don’t miss it and the money I have saved is unbelievable”.

Fiona Palmer, chief executive of GAMSTOP, said:

“We are grateful to Sonnet for carrying out this very detailed evaluation of the service and are studying their recommendations carefully. We are delighted to know that vulnerable consumers who have registered with GAMSTOP have found it has helped them control their gambling and made a positive impact on their lives.

The insights in this report are extremely helpful and we welcome the opportunity to look at all suggestions for further improvements to the service, including extending the length of the maximum exclusion period to give them peace of mind that they will benefit from the long-term protection that GAMSTOP provides”.


Rank Group Signs New £25M Revolving Credit facility with Lloyds Bank

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Rank Group PLC has announced that it has signed a new two-year £25m revolving credit facility with Lloyds Bank.

The Mecca Bingo and Grosvenor Casino owner said it will provide it extra liquidity and the opportunity to speed up investment in its transformation plan whenever cashflows are sustainable again.

It adds to the group’s existing £55m revolving credit facility and the remaining £108.4m term loan.

The new facility is subject to the same financial covenant waiver and other conditions, including a quarterly minimum £50m cash and available facilities test, of other banking agreements already in place.


MERKUR UK Initiative to be piloted in ten venues ahead of national roll-out

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MERKUR Initiative, which has been created by the high street gaming entertainment operator to recognise the smaller community-based charities and good causes that frequently get overlooked, is being trialled across ten high street venues with the first awards scheduled to be announced by the middle of the month. The experience gained from the pilot will be fed back into a phased national roll-out which will follow almost immediately.

Lola Wood, MERKUR UK’s Customer Experience Manager believes both the MERKUR Slots and MERKUR Bingo brands play a key role in their communities. She stated: “Most people will immediately associate Bingo Clubs with the term ‘Community’ but the same also applies to our 180 high street entertainment venues located in towns and cities throughout Great Britain.

“These are the places where friends meet and socialise in safe and familiar surroundings and where the staff will greet them by their first name. MERKUR Initiative builds on the profound connections that exist between venue and community by identifying those local ‘not for profit’ groups that quite frequently go unnoticed but quietly get on doing outstanding work in the community.”

“MERKUR Initiative will draw on the insight and local knowledge of staff who are being asked to nominate the good causes they want to support. Money raised through the venues will then be pooled nationally with head office contributing to the final donation.”

MERKUR UK is hoping to identify the local heroes and groups that are the lifeblood of so many communities. Lola Wood explained: “The awards that we will be making through MERKUR Initiative will help those that go the extra mile to continue to do the fantastic work that keeps communities together. I’m looking forward to meeting those local heroes and recognising them for what they do in the MERKUR UK communities that we are so proud to be a part of.”