Key points:
- GamCare is urging banks to analyse transaction patterns to detect harmful gambling
- Proposed measures include analysing spending patterns, proactive referrals to support services and promoting self-exclusion tools
GamCare is spotlighting new methods for banks to help protect customers from gambling-related financial harm, following insights from a recent workshop with the financial services sector.
This workshop, part of GamCare's Gambling Related Financial Harm project, emphasised strategies to help banks identify customers who may be at risk and offer them timely support.
Since its launch in 2019, GamCare’s initiative has aimed to bridge the gap between financial institutions, debt advisors and gambling support services to better serve those affected by gambling harms.
The latest session convened more than 70 participants – including representatives from major banks and charities – and highlighted how financial institutions can play a preventive role.
Based on insights from the workshop, GamCare recommends that banks leverage transactional data to spot high-risk behaviours, such as heavy gambling spend relative to income, increased gambling activity around payday, or frequent late-night gambling transactions.
By identifying these patterns, banks can notify customers and, when appropriate, guide them to third-party resources like the National Gambling Helpline or self-exclusion tools like Gamstop and blocking software such as Gamban.
Good to know: GamCare is advocating for banks to use third-party referrals and self-exclusion tools to protect vulnerable customers
Commenting on this, Raminta Diliso, Financial Harm Manager at GamCare, stated: “Last year, 72% of people who contacted the National Gambling Helpline disclosed financial difficulties.
“Banks are particularly well placed to detect harmful and unaffordable gambling through bank statements and transactional data, and provide more targeted support to their customers.
“We hope that more financial services firms will take a proactive approach and put the right steps in place to support customers who are experiencing financial difficulties related to gambling.”
Graeme Cumming, Vulnerable Customers Strategy Manager at Santander, added: "At Santander, we believe that the bank, although not responsible, does have a part to play in gambling harm prevention.
“We have built a suite of interventions, including letters and text messages, to provide timely signposting to support customers at risk of financial detriment due to their gambling."
