GBG Joins Forces With SEON to Offer Enhanced Fraud Prevention Solutions

GBG Joins Forces With SEON to Offer Enhanced Fraud Prevention Solutions

by September 7, 2021

GBG, a global digital identity and fraud solutions provider, has announced a partnership with SEON to enhance fraud prevention solutions for fintechs and digital banks in the Asia Pacific region.

The partnership with SEON enables GBG to increase effectiveness in combatting modern day fraud by validating the most active consumer touchpoints such as email addresses, IP location, social media, phone and SIM data to detect fraudulent anomalies in account application and loan origination, as well as to onboard new-to-bank population.

GBG said that financial institutions (FIs) can look to reducing fake and malicious email address usage to as low as 0 percent and increase detection of suspicious IP-related applications and transactions by up to 80 percent.

SEON’s technology is fully integrated into the GBG Intelligence Center.

FIs utilising the GBG Intelligence Center, a key module in GBG’s flagship end-to-end financial crime management solution, will reportedly benefit from enriched data intelligence to augment fraud detection and prevention accuracy by reducing manual work for FIs, false positive and false negative rates.

SEON adds to the performance of the Intelligence Center with its solution to reduce false positives for email, phone and IP.

Especially as fraud costs increasingly outweigh fraud management spend, this partnership aims to help risk management teams to increase efficiency by reducing time spent on manual tasks (e.g. checking of email, phone and IP data) by up to 50 percent.

Furthermore, as remote working arrangements continue, the ability to automate fraud detection and prevention with a high degree of accuracy remains crucial.

The GBG Intelligence Center, with SEON incorporated, will be available to FIs across APAC, including Vietnam, Cambodia, the Philippines, Malaysia, and Thailand.

Dev Dhiman

Dev Dhiman

Dev Dhiman, Managing Director of GBG, APAC said,

“To effectively address the rise in digital financial crime simply means that fraud detection and prevention measures need to be constantly modernised.


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.”

Jimmy Fong, Chief Commercial Officer at SEON

Jimmy Fong

Jimmy Fong, Chief Commercial Officer at SEON added,

“The combination of GBG and SEON is a modernised 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.”




Featured image: Edited from Unsplash