GBG APAC Partners with SEON in the Fight Against Fraud

GBG APAC Partners with SEON in the Fight Against Fraud

September 22, 2021


We’re happy to announce that GBG APAC has decided to partner with us to support businesses, banks, and fintechs in the fight against fraud across the Asia Pacific region.

Through this partnership, our email, IP, phone, and social media lookup technology will be integrated into the GBG Intelligence Centre as alternative data for fraud detection.

Dev Dhiman, Managing Director of GBG, APAC, commented:

“To effectively address the rise in digital financial crime simply means that fraud detection and prevention measures need to be constantly modernized. This partnership with SEON continues to expand GBG’s datasets to better combat against identity crime, in particular synthetic ID, impersonation, identity theft, account takeover, money muling, and SIM swap fraud typologies.” 

Globally, COVID-19 accelerated the general population’s migration to online; in Asia Pacific alone, digital banks saw a threefold increase in their customer bases in 2020 as compared to traditional banks.

Adding our technology to the Intelligence Centre product stack will help information given during account application and loan origination through publicly available information. 

“Close to half of GBG’s customers are in financial services, it’s a top priority for us to build a watertight environment to avert any data point from being used by bad actors to commit fraud.

“By constantly enhancing how our platform performs, we can better protect our customers and build digital trust between financial institutions and their consumers. As the digital economy continues to evolve, the GBG Intelligence Centre will continue to grow its strong network of partners to equip all FIs with the best-of-breed data and technology to fight fraud.”

Financial institutions (FIs) and merchants that use the GBG Intelligence Centre, will benefit from enriched data intelligence to augment fraud detection and prevention accuracy by reducing manual work for FIs, false positive and false negative rates.

GBG works with over 20,000 customers across more than 70 countries globally and this newfound partnership will be available to organizations across APAC, including Vietnam, Cambodia, the Philippines, Malaysia, and Thailand.

Jimmy Fong, Chief Commercial Officer at SEON, added:

“The ability to identify fraudulent behavioral patterns also means businesses can discover hidden revenue opportunities. SEON’s AI adapts to any business model, learning how it operates to create fully transparent and visible rules. 

This creates a scalable fraud prevention solution for all online business types, whether as a payment service provider, payment gateway, neobank, Buy Now Pay Later (BNPL), gaming, anti-money laundering, and more. 

The combination of GBG and SEON is a modernized solution for a fast-moving digital age, set to create greater agility to mitigate growing risks of fraud brought on by the pandemic while smoothening and automating financial crime management processes without compromising user experience.”

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