Identity data intelligence specialist GBG has been named winner of ‘Best Anti-Fraud Solution’ at the Credit & Collection Technology Awards 2017.
Application fraud solution GBG Instinct beat finalists Experian and Andromeda to take the title.
Working with some of the biggest banks in the world, GBG Instinct prevents fraud losses, reduces manual processes, improves operational efficiency, and helps protect reputation.
The technology works by comparing the information provided during customer registration against rich layers of identity reference data, such as account numbers, prior purchases or applications, card details, and even previous behaviour, as well as basic information such as name and address.
It then enables businesses to make quick, risk-based decisions on new applications, based on their own rules and requirements, which means no delays for good customers, high fraud identification rates – and far fewer time-wasting false positives.
Freddy Arthur, GBG DecTech Strategic Lead, UK & Europe, said: “With application fraud on the increase, the techniques used by criminals are continuing to evolve.
“Technology to detect suspicious behaviour must continue to innovate. We’re proud to be recognised for empowering our customers in this area.”
The Credit & Collections Technology Awards were launched this year to find innovation and technology, which best supports customer outcome.
Winners and finalists are those recognised as leading the way in enhancing credit and collections technology.