In response to the regulatory action, the business said it accepted that certain systems and processes that were in place in 2020 and 2021 were not “in line with the Commission’s expectations around affordability.”
The operator also said that it acknowledged and appreciated the Commission’s recognition that the company’s UK operations are in an improved position since the investigation too place, and that it remains suitable to hold a licence.
“While we accept the outcome, and the acknowledgment that we have already taken significant steps to strengthen our processes, we also recognise that we need to work even harder to ensure a safe and compliant business,” Kindred chief executive Henrik Tjärnström said.
“We appreciate the Commission’s clear recognition that our operations are in an improving position and that we remain fit to hold an operating licence,” he added. “Our commitment to reducing gambling harm across our platforms is a key part of our journey towards zero ambition – and we are redoubling our efforts to ensure we continue that progress.”
The business said that – as a result of the actions taken – that it was unlikely for similar cases of shortcomings as highlighted by the regulator to happen today. It added that it had hired additional staff in its UK compliance and risk management teams, as well as continued to make ongoing process improvements.
Self-regulating features
New features include the imposition of compulsory limits tailored to an individual consumer’s risk profile, including a more focused approach to players under the age of 25. The new “robust affordability framework” also means that the business implements a full registration block for players who show signs of “significant financial pressure.”
The company also said that it voluntarily imposes stake limits on specific products based on a person’s risk profile, with customers deemed to be a lower affordability bracket not permitted to stake at the higher levels.
Additionally, Kindred said that it continued the roll-out of automated interventions to improve the reaction speed to players showing characteristics typical of an escalating risk profile.
In the months ahead, the operator said that it was its “firm ambition” to continue to leverage this work by integrating technical and data advancements in its responsible gaming framework.
Since the implementation of the business’s safer gambling features, the business said that it had seen a reduction in the amount of revenue generated by high-risk individuals. Kindred said that from Q1 2020 to Q4 2022, there was a 57% decrease in such revenue in the UK.
The company added that 87% of the interventions made resulted in healthier consumer behaviour. Currently, more than 50% of UK players now voluntarily use at least one responsible gaming tool.
Original article: https://igamingbusiness.com/legal-compliance/kindred-emphasises-historic-nature-of-failings/
