#Monzo

The increase in costs of living has prompted many more people to gamble, but it's not all bad, argues Monzo, an online bank in the United Kingdom, which has taken a detailed stock of the market and noticed that consumers are increasingly turning to gambling-blocking tools to control their spending and habits. Monzo itself is a pioneer in the…

More and more people in the UK are now using tools that block them from engaging in gambling in the midst of the cost-of-living crisis. Online bank Monzo has disclosed that about 50000 of its customers have activated a gambling block on their accounts for the very first time in the last six months. blocking 20% more gambling-related transactions in…

UK-based online banking provider Monzo shared some data regarding its gambling block tool. The company was one of the first to provide a similar service, and recent reports indicate that significantly more people have been taking advantage of it. Monzo's customer-centric approach has also inspired other financial institutions to introduce similar…

Online bank Monzo revealed that it has seen 50000 of its customers make use of its gambling block tool for the first time over the past six months. This is a third more than the number of people who started using it in the previous six months. The lender also blocked 20% more transactions than it did in the prior period, it said. It added that half…

Mobile phones are more popular than ever, with many people even forgoing landlines in their houses for their smart devices. According to research, 6.648 billion people use a smartphone, meaning approximately 83.37% of the world's population own one and use it regularly. This figure is projected by researchers to grow by 7.7 billion in 2027. If it…

We've all been there at some point, you've had a rough month and you are eagerly counting down the hours until your employer drops that sweet pay into your bank account. However, when that moment came, 33-year-old Danny Cheetham gambled every penny he was paid within under three hours. The 33-year-old told said: "The worst moments were walking into…

Klarna, a leading global retail bank, payments and shopping service that helps consumers save time and money, be informed and in control of their finances, announced it is enabling banks to extend voluntary gambling blocks to open banking-driven payments powered by its subsidiary, SOFORT, helping protect hundreds of thousands of UK consumers. UK…

Four years on from the Monzo's gambling block feature 400000 Monzo customers have activated it while many millions of others are covered by their banks who took the initiative. In 2018 Monzo demonstrated the innovative power of neo banking by quickly building a feature that allows users to block themselves from using gambling websites in a bid to…

Sofort, a payments solution subsidiary of Klarna, has developed the UK's first open-banking voluntary gambling block, aiming to allow customers to control their betting habits through digital payments. The technology, first developed by Monzo and TrueLayer for card-based payments, enables customers struggling with problem gambling to block payments…

Bank to Bank Transfer Europe FinTech Klarna, a leading global retail bank, payments and shopping service that helps consumers save time and money, be informed and be in control of their finances, announced it is enabling banks to extend voluntary gambling blocks to open banking-driven payments powered by its subsidiary, SOFORT, helping protect…

Klarna is enabling banks to extend voluntary gambling blocks to open banking-driven payments through its subsidiary, Sofort, using public code developed by Monzo and TrueLayer. Monzo, was the first bank to introduce a gambling block in 2018, following demand from customers who wanted help controlling their use of gambling sites. Since then most UK…

Online bingo and slot site MrQ has always tried to make it easy for players to withdraw their hard earned winnings. Whether it's the wager-free welcome bonus that means all winnings are yours to keep or the integration of open banking that connects directly to your bank. The latest new feature from MrQ is the addition of HooYu KYC as a part of the…

A spike in the online gambling industry in the UK in recent years proves beyond doubt the popularity of gambling nationwide. In spite of being an easily accessible method of entertainment, no one can deny the infliction of harm gambling is capable of. Even the recovery continues for a length of time which leaves a person drained. It continues to…

Over the past year, the way the world does business has evolved in an incredibly short space of time. While many industries have been hard hit by a lack of visitors to physical stores, the online casino sector has continued to flourish. According to the European Gaming and Betting Association, the EU makes up around 50% of the global online betting…

Considering the current situation where the gambling industry in the UK is considered as one of the fastest-growing industries, it is important to acknowledge the addictive nature of gambling and with this rapid rise of the gambling industry, it is the people who are paying a price. Studies have shown almost 2 million people are at risk of going…

GambleAware has published a new report by the Behavioural Insights Team which analyses behavioural datasets to understand whether these could be used to build a clearer picture of the ways in which people gamble, identify possible harms, and eventually inform prevention, treatment, and support responses. The commissioned research analysed bank…

The report was split into two sections- one for the Monzo portion of the study, and one for the HSBC UK findings. It is hoped that the results of the report will lead to developing prevention of irresponsible gambling and provide support for those who require help. Monzo shared anonymised daily transactions for 10000 of its customers, spanning an…

British Columbia Lottery Corporation has always been working towards creating a healthy relationship between patrons and their gambling habits. One of the initiatives in this direction was no other than the annual New Horizons in Responsible Gambling Conference gathering experts working to promote responsible gambling on a day-to-day basis. This…

Monzo has called on the UK Government to mandate the use of gambling access blocks on all UK bank accounts. The open letter, supported by top NHS clinicians, gambling harm charities and leading academics, calls for new rules that would mean every bank customer in the UK has access to a gambling block on their account, regardless of who they bank…

Battling any type of addiction can be a daunting task. For Jack Symons the addiction was gambling. While many people enjoy betting on slot games, sports events, and online casinos, problem gambling is a very real problem that affects millions of people all over the world. Having tried everything, from parental controls software to gambling-blocking…