Machine learning, orchestration and improved fraud detection accuracy capabilities designed to de-risk Asia’s fast-evolving digital onboarding needs for growing financial institutions
SINGAPORE - Media OutReach - 30 January 2020 - GBG (AIM: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 onboard 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[1]. Financial institutions find themselves facing unprecedented diversity of application and transactional 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."