Harmful Gambling and Financial Data Report February 2023 - Report - Page 4
GAMBLING PROPENSITY IS NOT
CORRELATED WITH CONSUMERS’
CREDIT RATINGS
We ran a retrospective analysis and cross-referenced
the credit score provided by a credit reference agency
for people we had made an Open Banking-powered
lending decision.
% of applicants failing for gambling reasons by credit rating
MANY LENDERS ARE
NOT IDENTIFYING
PROBLEM
GAMBLERS:
• Gambling transactions are
not visible to credit reference
agencies so their data is a
weak predictor of excessive
gambling.
• Gambling is easily identified
using Open Banking yet
many lenders do not use this
technology.
35%
26%
18%
• This is leading to many tragic
examples where gamblers
are effectively funding their
addiction with credit.
9%
0%
No Score
690+ (Prime +3 /
Super Prime)
Credit rating (Higher credit rating / lower risk)
We want to use
the power of Open
Banking data to
drive change.
APPLICANT B:
34 YEARS OLD WITH
NET MONTHLY INCOME
OF £2,800
Between November 2022 and late January 2023
Applicant B made 155 gambling payments
totalling £33,900. £28,900 in “winnings” were
paid back into the applicant’s account.
Over these three months Applicant B was
granted five high cost loans totalling £2,100
followed by two sub-prime loans totalling
£3,500. In January 2023, “B” applied for a
£1,000 Salad Money loan which we declined
based on our analysis of their financial
transactions.
Problem gambling is increasing
and is prevalent across all
demographics.
Many in the traditional consumer
credit industry are making poor
lending decisions for vulnerable
consumers.
Change is overdue.
GET IN TOUCH:
www.saladmoney.co.uk
help@cs.saladmoney.co.uk
Salad-Money
