Financial institutions utilising GBG Intelligence Center benefit from enriched data intelligence on identity verification, mobile and IP, location, cyber endpoint threat, credit risk, and relationship association to augment fraud detection and accuracy
SINGAPORE – Media
OutReach – 4 February 2021 – GBG (AIM:GBG), the global technology specialist in fraud and
compliance management, identity verification and location data intelligence, has
today announced the launch of the GBG Intelligence Center. The dynamic
platform connects to an extensive network of proprietary and external technology
and data partners specialised in identity verification, mobile and IP
assessment, relationship association, cyber endpoint threat, credit risk and
The GBG Intelligence Center is one
of the core modules of GBG’s fraud engine, the Digital Risk Management and
Intelligence platform. The capabilities in the Intelligence Center help organisations
better validate, verify and assess profiles, behaviours and intent of individuals
and entities across branch, web, mobile and app, and transform raw data points
to data intelligence, to enhance fraud detection and accuracy.
Benefits to Financial
The GBG Intelligence Center
consists of nine categories of fraud detection enhancement capabilities connected
to carefully curated best-in-class technology and data partners. It also has
the flexibility to connect to any bespoke systems or solutions required by the
FI. The GBG Intelligence Center creates on-demand access to a growing and
evolving range of best of breed solutions to handle emerging fraud typologies
like social engineered first-party fraud, identity fraud, identity theft and
cybercrimes. Users can procure a license key for their desired capability and
activate the capability as they need. Using the dynamic Workflow Manager, users
can design and orchestrate their desired process to improve fraud
FIs typically spend 30-35% of
their time procuring and integrating new technology, which reduces their speed
to launch new financial services. For organisations who are already using GBG’s
fraud engine, integrating the Intelligence Center provides these organisations
with nine additional fraud prevention measures which they could trigger easily.
Instead of going through a lengthy procurement process to acquire the
solutions, the Intelligence Center is a gateway to adding new solutions quickly
to help organisations be more agile in gaining digital trust with their
consumers and strengthening their defences against bad actors.
Today, seven customers using
Instinct, GBG’s digital onboarding solution, have deployed the GBG Intelligence
Center. They include a BUKU 4 state-owned bank in Indonesia, as well as top
tier banks, a buy now pay later (BNPL) company, consumer financial services
firms, a building society, and a leading insurance firm in Australia.
Dev Dhiman, APAC Managing Director of GBG, shared, “The GBG Intelligence Center not only
provides layers of on-demand fraud prevention capabilities, but it also creates
huge efficiency gains for financial organizations funnelling an immense amount
of data into a single platform. With these efficiency gains, organizations will
be able to transform data into actionable insights and intelligence for better
decision-making. By connecting to our Digital Risk Management and Intelligence
platform and its extensive partner ecosystem, financial institutions are able
to scale and future-proof themselves against emerging financial crimes. With a
rise in online financial fraud during the pandemic, we have seen how data
intelligence in endpoint security, identity association, email validation, and
phone assessment capabilities have helped mitigate these potential threats.
Developing a pre-emptive fraud solution is fundamental in addressing
unforeseeable threats that continue to shift and grow.”
Capabilities in GBG
Capabilities in GBG Intelligence Center
include GBG proprietary solutions like Loqate for
international address validation and, IDScan, ID3Global, and greenID for international biometric, facial and
identity verification, and technology partners like CredoLab, which GBG has invested in, for alternate digital credit scoring. The nine
capabilities on the solution platform today are:
- Address Validation
- Biometric Verification
- Digital Credit Scoring
- Document Authentication
- Email & IP
- Endpoint Security
- Identity Association
- Identity Verification
- Phone Assessment
Dhiman added, “The
capabilities in the Intelligence Center are designed to cater to the evolving climate
of digital fraud prevention requirements. Each capability brings a different
measure of defence for organizations seeking to grow their online and mobile
space, with the goal to provide data intelligence and associations as
comprehensively and completely as possible. As financial institutions accelerate
their digital transformation, the Intelligence Center will become
mission-critical in helping organizations increase speed-to-market all while minimizing
the risks of digital fraud.”
Customers deploying GBG
A state-run top tier bank in
Indonesia upgraded to integrate the Intelligence Center after using Instinct
for 3 years, in a move towards their vision to provide top-notch customer
experience and digital financial services.
The deployment has gone live across over a hundred of the bank’s
branches to support its retail banking portfolio of services, including
personal and home loan, credit card and auto finance applications. Today, the
bank achieves a straight-through to approval decisioning and has improved
customer onboarding efficiency by 85%, as it progresses from a labour-intensive
to semi-automated loan application and approval process. With the Intelligence Center,
the bank calls out to and assimilates data from data sources including the
bank’s internal big data repository for income estimation and external data
sources like DJP (Indonesia Tax Registry), Dukcapil (Indonesia Population and
Civil Registry) and SLIK (Indonesia Credit Bureau Data by OJK) to obtain
holistic and accurate profiles of loan applicants.
As a next step, the Intelligence Center
will be connected to local telco data sources from Telkomsel, Indosat,
XL-Axiata, and ASLI RI to further improve fraud prevention and onboarding
efficiency. With the Intelligence Center rolled out to support both branch and
app banking, the end to end fraud management solution would seamlessly manage
an estimate of 1.8 million applications for the bank this year.
The GBG Intelligence Center is currently being used by six leading
financial institutions in Australia, including a buy now, pay later (BNPL)
company, consumer financial services firms, a building society, top tier banks,
and a leading insurance firm. These organisations had all been using Instinct,
GBG’s Digital Risk Management and Intelligence platform, for several years.
The Intelligence Center was selected for its abilities to augment
onboarding performance and experiences, and perform dynamic third party call
outs. Furthermore, these Australian enterprises recognised the Intelligence
Center’s capabilities in enabling faster and quicker integrations with
additional data sources, and dynamically adding and updating workflows at
speed. While each FI’s needs is unique, the vast range of services and capabilities
of the GBG Intelligence Center ensured each requirement is met, customised and
scaled as required.
- The consumer financial services
firm uses the Intelligence Center for the integration of device intelligence
into their onboarding process for credit card and personal loan applications.
- The BNPL organisation leverages
a broad range of services within the Intelligence Center’s ecosystem, including
integration of biometric and facial scanning data, email validation, endpoint
security intelligence and data from internal systems and other payment gateways,
and management and customisation of multiple workflows.
- For the banks, retail banking
and loans conducted by the banks particularly leverage the Intelligence Center
to communicate with its external enterprise case management solution. Rather
than using an API-based solution, the GBG Intelligence Center was preferred for
its flexibility to add on and enhance services on the go. Investing in a single
purpose API solution would have been similar in cost, but would have also
limited the bank’s ability to scale and future-proof their digital
- The insurance firm upgraded and
added on the Intelligence Center to Instinct to combat the complex and heavy
data processing required to manage internal fraud in insurance claims. The
Intelligence Center supports multiple connections across the claims management
system, including connectivity to both internal and external systems across
different departments and functions, and all involved parties and claimants who
need to submit a statement.
For more information about GBG
Intelligence Center, click here.
GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers.
Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience, and establish trust so that they can transact quickly, safely and securely with their customers online.
Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. Some of the world’s best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia’s biggest banks and European household brands.