GBG announces Intelligence Center customers in Australia, Indonesia

GBG, the global technology specialist in fraud and compliance management, identity verification and location data intelligence, has announced that seven customers using Instinct, GBG’s digital onboarding solution, have deployed the just-launched 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 an insurance firm in Australia.

The GBG Intelligence Center is one of the core modules of GBG’s fraud engine, the Digital Risk Management and Intelligence platform. Intelligence Center capabilities 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. Organisations that are already using GBG’s fraud engine can integrate the Intelligence Center to obtain nine additional fraud prevention measures which they can trigger easily. 

Six financial institutions in Australia are currently using the GBG Intelligence Center. Many of the deployments leveraged on the inherent capabilities within the Intelligence Center, including biometric and facial scanning solutions, identity verification solutions, address validation solutions, email validation and endpoint security to enhance fraud prevention and detection. 

The BNPL firm utilised the Intelligence Center for exchanges with bespoke systems, including payment gateways and to manage and customise multiple workflows. On the other hand, one of the top-tier banks connected the Intelligence Center to an external enterprise case management solution for a more streamlined fraud management workflow.

The Australian insurance firm upgraded to the Intelligence Center from 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 internal and external systems across various legal and finance departments and professionals, as well as all involved parties and claimants who need to submit a statement.

Dev Dhiman, APAC MD, 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 organisations funnelling an immense amount of data into a single platform. With these efficiency gains, organisations 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.”

The solution features address validation, biometric verification, digital credit scoring, document authentication, email & IP assessment, endpoint security, identity association, identity verification and phone assessment.

A state-run top tier bank in Indonesia has also integrated the Intelligence Center after using Instinct for three years. The move is aligned towards their vision to provide top-notch customer experience and digital financial services. The deployment is live across over 100 of the bank’s branches to support its retail banking portfolio of services, including personal and home loan, credit card and auto finance applications.

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. This has allowed the bank to progress from a labour-intensive to a semi-automated loan application and approval process. It achieves straight-through processing to approvals and has improved customer onboarding efficiency by 85%.

In future, the bank expects the Intelligence Center to be connected to local telco data sources from Telkomsel, Indosat, XL-Axiata, and ASLI to further improve fraud prevention and onboarding efficiency. When the Intelligence Center is rolled out to support both branch and app banking, the end-to-end fraud management solution will seamlessly manage an estimated 5,000 applications daily for the bank this year.

GBG offers technology that helps organisations quickly validate and verify the identity and location of their customers.

*BUKU stands for Bank Umum Kegiatan Usaha. The BUKU categorisation system in Indonesia for banks reflects the amount of core capital it has, which in turn determines its scope of business activity. The categories range from BUKU 1 - banks with core capital of under 1 trillion rupiah, to BUKU 4, the highest tier, which comprises banks with core capital of over 30 trillion rupiah.