GBG Broadens the Fight Against Modern Day Financial Crime

 GBG the global technology specialist in fraud & compliance management, identity verification and location data intelligence, today announced the launch of four fraud solutions, including its flagship Instinct Hub now as a platform solution. Businesses across the globe are enabled to on-board quality customers more swiftly, while simultaneously protecting their organizations and their customers against losses from fraud and financial crimes in an increasingly complex digital landscape.

“Nearly one in two enterprises in Asia Pacific are falling victim to fraud, money laundering, or other forms of financial crime. Financial institutions find themselves facing unprecedented diversity of application and transaction channels — from branch to online and e-wallets. These channels and criminal activities are evolving at a speed and complexity that these enterprises, and the financial institutions that support them, are hard-pressed to keep up with,” said June Lee, Managing Director of APAC, GBG.

“To aid in that fight, GBG offers a layered digital fraud and compliance solution which unifies data across vertical silos to improve financial crime detection accuracy across the customer journey. Straight through process across identity verification (KYC/AML) onboarding and transaction phases onboard good actors faster; coupled with machine learning it all in all increases online fraud detection by 30 percent and reduces false positives by up to 20 percent — giving business leaders a truly holistic approach to defending their customers and de-risking their organizations.”

GBG’s fraud and compliance management product suite is accredited by Chartis as best of breed anti money laundering (AML) and watchlist solutions, for their strong case management and analytics capabilities, focused functionality and ability to integrate with other best-in-class point solutions. They already power the anti-fraud risk efforts of many of the region’s largest institutions, from regional banking giant HSBC, BNP Paribas Personal Finance in Spain, major wagering players in Australia like Tabcorp to 9 out of 10 of Malaysia’s top tier banks.

At the foundation of its offering sits Instinct Hub, a key solution to its digital risk management and intelligence platform, which manages swift and frictionless new customer digital onboarding Instinct Hub is upscaled to combat complex financial crimes 4.0 attacks against a customer identity and perpetrated across online, mobile and branch networks, GBG Instinct Hub is designed for organizations who are embracing digital transformation, e-banking channels and launching digital banking products. This newest version of GBG Instinct Hub has enhanced operational efficiency and effectiveness gains — fraud analysts and investigators are able to quickly identify, visualize and are alerted to suspicious behaviours with an improved user interface and dashboard, as well as an improved workflow.