Tag Archives: Monzo

UK Challenger bank Monzo has revealed that its users are increasingly utilising its gambling block functionality as a means of self-exclusion.  According to internal data released by the company, 8% more users have activated their gambling blocks since they were made more accessible in 2023.  In 2024 alone, a total of £9m in transactions were blocked. The average monthly volume …

GamCare has issued new guidance to British banks on how to spot and prevent gambling-related financial harms impacting their clients’ businesses. The problem-gambling treatment support charity has published its “Business banking, debt and gambling harm” report, produced from insights gained from workshops and research on gambling-related financial harms. The report emphasizes the importance of raising awareness and training staff within …

Tim Miller reflected on the journey and the scale of work undertaken on the UK Gambling Act review and its subsequent White Paper consultations as the most comprehensive examination of a gambling market undertaken by a regulatory agency. Many believe that the process of the Gambling Review had been triggered before the Department for Digital, Culture, Media and Sport (DCMS) …

Prominent banking and financial services firms have noted an increase in the use of gambling blocking software, as consumers try to curb their spending. In the face of rising costs of living throughout the winter, coupled with the usual monetary pressures of the Christmas period, Monzo is one provider which has seen an upsurge in usage.  The open banking company …

GambleAware has published a new report analysing behavioural datasets, in order to understand if this method could be used to build a more precise picture of how people gamble, identify signs of harm, and eventually inform prevention, treatment, and support responses. Conducted by the charity’s Behavioural Insights Team, the new research examined bank transactional data from Monzo and HSBC to …

GamCare has called for UK financial institutions and businesses to work together in ensuring that all ‘gambling block’ loopholes are closed in order to protect vulnerable consumers. The call for collaboration follows GamCare hosting its ‘Gambling Related Financial Harm’ workshop in which diverse financial stakeholders shared insights on the design and safety features of gambling block tools used by banking …

The UK Gambling Commission (UKGC) has launched its new consumer guidance campaign, providing the general public with a full breakdown of the ‘gambling block services’ currently offered by highstreet and digital banks. The campaign forms part of the UKGC’s new ‘money and rights’ section launched at the start of the year, providing the public with detailed information with regards to …

Digital bank Monzo has partnered with compliance and open banking software provider TrueLayer to develop an ‘industry-wide universal gambling block’ solution for the financial services sector.  The Fintech incumbents revealed that they are trialling an ‘open-banking API’ to develop a comprehensive gambling block solution, impeding transactions between financial service providers (banks, credit cards, e-wallets, loans, etc) and gambling businesses. In …