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\n 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 <\/p>\n
SINGAPORE –\u00a0Media
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The GBG Intelligence Center is one
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Benefits to Financial
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The GBG Intelligence Center
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FIs typically spend 30-35% of
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Today, seven customers using
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Dev Dhiman, APAC Managing Director of GBG,<\/b> shared, “The GBG Intelligence Center not only
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Capabilities in GBG
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Capabilities in GBG Intelligence Center
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Dhiman<\/b> added, “The
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Customers deploying GBG
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INDONESIA<\/p>\n
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A state-run top tier bank in
The deployment has gone live across over a hundred of the bank’s
As a next step, the Intelligence Center
AUSTRALIA<\/p>\n
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The GBG Intelligence Center is currently being used by six leading
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The Intelligence Center was selected for its abilities to augment
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Some examples:<\/p>\n
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For more information about GBG
\nOutReach<\/a>\u00a0– 4 February 2021 –\u00a0GBG<\/a>\u00a0(AIM:GBG), the global technology specialist in fraud and
\ncompliance management, identity verification and location data intelligence, has
\ntoday announced the launch of the GBG Intelligence Center<\/b>. The dynamic
\nplatform connects to an extensive network of proprietary and external technology
\nand data partners specialised in identity verification, mobile and IP
\nassessment, relationship association, cyber endpoint threat, credit risk and
\nlocation intelligence. <\/p>\n
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\nof the core modules of GBG’s fraud engine, the Digital Risk Management and
\nIntelligence platform. The capabilities in the Intelligence Center help organisations
\nbetter validate, verify and assess profiles, behaviours and intent of individuals
\nand entities across branch, web, mobile and app, and transform raw data points
\nto data intelligence, to enhance fraud detection and accuracy. <\/p>\n
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\nInstitutions (FIs)<\/b><\/p>\n
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\nconsists of nine categories of fraud detection enhancement capabilities connected
\nto carefully curated best-in-class technology and data partners. It also has
\nthe flexibility to connect to any bespoke systems or solutions required by the
\nFI. The GBG Intelligence Center creates on-demand access to a growing and
\nevolving range of best of breed solutions to handle emerging fraud typologies
\nlike social engineered first-party fraud, identity fraud, identity theft and
\ncybercrimes. Users can procure a license key for their desired capability and
\nactivate the capability as they need. Using the dynamic Workflow Manager, users
\ncan design and orchestrate their desired process to improve fraud
\ndetection.\u00a0 <\/p>\n
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\ntheir time procuring and integrating new technology, which reduces their speed
\nto launch new financial services. For organisations who are already using GBG’s
\nfraud engine, integrating the Intelligence Center provides these organisations
\nwith nine additional fraud prevention measures which they could trigger easily.
\nInstead of going through a lengthy procurement process to acquire the
\nsolutions, the Intelligence Center is a gateway to adding new solutions quickly
\nto help organisations be more agile in gaining digital trust with their
\nconsumers and strengthening their defences against bad actors. <\/p>\n
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\nInstinct, GBG’s digital onboarding solution, have deployed the GBG Intelligence
\nCenter. They include a BUKU 4 state-owned bank in Indonesia, as well as top
\ntier banks, a buy now pay later (BNPL) company, consumer financial services
\nfirms, a building society, and a leading insurance firm in Australia. <\/p>\n
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\nprovides layers of on-demand fraud prevention capabilities, but it also creates
\nhuge efficiency gains for financial organizations funnelling an immense amount
\nof data into a single platform. With these efficiency gains, organizations will
\nbe able to transform data into actionable insights and intelligence for better
\ndecision-making. By connecting to our Digital Risk Management and Intelligence
\nplatform and its extensive partner ecosystem, financial institutions are able
\nto scale and future-proof themselves against emerging financial crimes. With a
\nrise in online financial fraud during the pandemic, we have seen how data
\nintelligence in endpoint security, identity association, email validation, and
\nphone assessment capabilities have helped mitigate these potential threats.
\nDeveloping a pre-emptive fraud solution is fundamental in addressing
\nunforeseeable threats that continue to shift and grow.”<\/p>\n
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\ninclude GBG proprietary solutions like Loqate<\/a> for
\ninternational address validation and, IDScan<\/a>, ID3Global<\/a>, and greenID<\/a> for international biometric, facial and
\nidentity verification, and technology partners like CredoLab, which GBG has invested<\/a> in, for alternate digital credit scoring. The nine
\ncapabilities on the solution platform today are: <\/p>\n
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\ncapabilities in the Intelligence Center are designed to cater to the evolving climate
\nof digital fraud prevention requirements. Each capability brings a different
\nmeasure of defence for organizations seeking to grow their online and mobile
\nspace, with the goal to provide data intelligence and associations as
\ncomprehensively and completely as possible. As financial institutions accelerate
\ntheir digital transformation, the Intelligence Center will become
\nmission-critical in helping organizations increase speed-to-market all while minimizing
\nthe risks of digital fraud.”<\/p>\n
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\nIndonesia upgraded to integrate the Intelligence Center after using Instinct
\nfor 3 years, in a move towards their vision to provide top-notch customer
\nexperience and digital financial services.<\/p>\n
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\nbranches to support its retail banking portfolio of services, including
\npersonal and home loan, credit card and auto finance applications. Today, the
\nbank achieves a straight-through to approval decisioning and has improved
\ncustomer onboarding efficiency by 85%, as it progresses from a labour-intensive
\nto semi-automated loan application and approval process. With the Intelligence Center,
\nthe bank calls out to and assimilates data from data sources including the
\nbank’s internal big data repository for income estimation and external data
\nsources like DJP (Indonesia Tax Registry), Dukcapil (Indonesia Population and
\nCivil Registry) and SLIK (Indonesia Credit Bureau Data by OJK) to obtain
\nholistic and accurate profiles of loan applicants.<\/p>\n
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\nwill be connected to local telco data sources from Telkomsel, Indosat,
\nXL-Axiata, and ASLI RI to further improve fraud prevention and onboarding
\nefficiency. With the Intelligence Center rolled out to support both branch and
\napp banking, the end to end fraud management solution would seamlessly manage
\nan estimate of 1.8 million applications for the bank this year.<\/p>\n
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\nfinancial institutions in Australia, including a buy now, pay later (BNPL)
\ncompany, consumer financial services firms, a building society, top tier banks,
\nand a leading insurance firm. These organisations had all been using Instinct,
\nGBG’s Digital Risk Management and Intelligence platform, for several years. <\/p>\n
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\nonboarding performance and experiences, and perform dynamic third party call
\nouts. Furthermore, these Australian enterprises recognised the Intelligence
\nCenter’s capabilities in enabling faster and quicker integrations with
\nadditional data sources, and dynamically adding and updating workflows at
\nspeed. While each FI’s needs is unique, the vast range of services and capabilities
\nof the GBG Intelligence Center ensured each requirement is met, customised and
\nscaled as required. <\/p>\n
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\nfirm uses the Intelligence Center for the integration of device intelligence
\ninto their onboarding process for credit card and personal loan applications.<\/li>\n
\na broad range of services within the Intelligence Center’s ecosystem, including
\nintegration of biometric and facial scanning data, email validation, endpoint
\nsecurity intelligence and data from internal systems and other payment gateways,
\nand management and customisation of multiple workflows.<\/li>\n
\nand loans conducted by the banks particularly leverage the Intelligence Center
\nto communicate with its external enterprise case management solution. Rather
\nthan using an API-based solution, the GBG Intelligence Center was preferred for
\nits flexibility to add on and enhance services on the go. Investing in a single
\npurpose API solution would have been similar in cost, but would have also
\nlimited the bank’s ability to scale and future-proof their digital
\ntransformation.<\/li>\n
\nadded on the Intelligence Center to Instinct to combat the complex and heavy
\ndata processing required to manage internal fraud in insurance claims. The
\nIntelligence Center supports multiple connections across the claims management
\nsystem, including connectivity to both internal and external systems across
\ndifferent departments and functions, and all involved parties and claimants who
\nneed to submit a statement.<\/li>\n<\/ul>\n
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\nIntelligence Center, click here<\/a>. <\/p>\n