Identity Intelligence from GBGroup: Streamline customer onboarding, protect your business

Transcription

1 Identity Intelligence from GBGroup: Streamline customer onboarding, protect your business For Asia-Pacific business

2 Rapid changes across Asia-Pacific markets are opening up huge opportunities for innovative businesses. The number of affluent, middle-class consumers are rising across the region, with China and India operating as the powerhouses of global growth. As international commerce continues to move online, Asian companies are selling into new markets and winning customers around the world. Rapid growth and online business also bring greater risk. To protect themselves against the mounting threat of fraud and to comply with an increasingly stringent regulatory regime, Asia-Pacific businesses must verify exactly who their customers are quickly, accurately and at minimum expense. GBGroup s Identity Intelligence suite helps you meet that challenge, protecting you against fraud, financial crime and money laundering throughout the customer lifecycle. Our automated online services streamline the customer onboarding process, delivering a seamless customer experience while reducing costs. As the international identity verification specialists, we can help you mitigate risk and realize your full growth potential, both here in Asia-Pacific and across the globe. 1

3 Pak Wai Lau Engineer 150 Kennedy Road Wan Chai Hong Kong People s Rep. of China Mike Chew Audit Manager Level 7 23 Leep Street Sydney NSW Fion Chan Marketing Manager Jl. Gatot Subroto No. 7 Senayan, Kebayoran Baru Jakarta Selatan Indonesia Take the opportunity The challenge identifying global customers Asia-Pacific consumers are earning and spending more, and are rapidly moving online as Internet access improves. Both factors are fuelling rapid e-commerce growth allowing businesses to grow quickly while keeping costs extremely low. By the end of 2014, a third of the Asia-Pacific population will be online, making up 45 per cent of the world s Internet users (ITU) who, by 2015, will comprise the world s most valuable ecommerce market. With the regions population still rising, mobile and online commerce growth will continue only 10% of citizens in India are yet online? Via the Internet, businesses also have unprecedented access to global markets for their products and services. Countries like the United States and the UK have huge online customer bases only a click away. Worldwide consumer ecommerce continues to grow at 20% annually, with sales reaching $1.471 trillion by the end of 2014 when more than 3 billion consumers will be online. Mobile payments grew eight-fold in China in 2013, powered by an equally rapid increase in mobile shopping. China accounts for over half the region s ecommerce sales Though it still accounts for around half of the market, cash-on-delivery for B2C ecommerce payments in India will decrease from 2013 to 2016 as credit card and mobile payments increase In Indonesia, bank transfer was the most popular payment method in consumer ecommerce in 2013, followed by cash-on-delivery. Today, customers can come from any country via a multitude of on and offline channels and devices. Are you certain they are who they say they are? Are they really able to pay you and will you break the law by transacting with them? Internet and mobile commerce delivers a stream of potentially profitable customers, but also bring new risks and challenges. Its inherent anonymity fuels crime and deception; as ecommerce grows, so does identity theft, fraudulent transactions and other financial crime. Card-not-present fraud within online shopping is a prime example, rising fast both in Asia-Pacific and globally. When a handful of fraudsters can cancel out the profits from hundreds of good customers, verifying individual identity, credit checking and accurately assessing risk is critical. This can be difficult to achieve and Asia-Pacific adds its own complications, like the large numbers of transient workers with no local documents to prove their identity. Complex Anti-Money Laundering (AML) and KYC regulations add to the challenge. From Malaysia and Singapore to Hong Kong and Japan, territories are enacting and enforcing far more rigorous data governance legislation. Each country has its own particular regulatory requirements, with non-compliance risking investigations, criminal prosecution and large fines as well as reputational and brand damage. Asia-Pacific businesses are tackling these challenges, but mostly still employ old-fashioned paper-based methods to identify and accept new customers. Time-consuming, expensive and error-prone, they deter good customers while missing many of the bad ones. There has to be a better way. Migrants make up 16.8% of Australasia s population In Australia, domestic and cross-border card fraud has more than doubled since It rose 16% in alone, compared to only a 4% increase in spend. 2 3

4 The Solution Online ID Verification GBGroup s Electronic ID Verification (eidv) solutions are already helping global organisations face this challenge. A fundamental enabler for online business, they validate global identity, age and address in real time and detect fraudulent registrations and transactions in multiple channels and across every device a consumer uses. GBGroup supports the whole customer lifecycle, from initial data capture through identity verification to day-today transaction monitoring. By replacing outdated manual, paper-based processes with our online eidv tools, you can fully automate customer onboarding. This has the potential to slash operational costs, with reductions of 60% or more seen by some of our clients. Our solutions increase customer data accuracy, ensure global compliance with local KYC and AML legislation, and provide an excellent customer experience reducing drop-out rates during the application or checkout process. GBG s eidv services combine the broadest data with unique matching algorithms and the smartest technology. Working across continents and time zones, they support true cross-border verification, helping businesses identify genuine customers fast while weeding out fraudsters and criminals. Easily integrated with customer systems, they can be configured to tailor risk and compliance management to every territory your company operates in, and to suit each of your different business processes. As customers continue to move online and fraud sophistication grows along with them, online customer identification is becoming standard business practice. Companies that put the correct Identity Intelligence technology and processes in place today will benefit most from market growth while streamlining their customer processes and minimizing their risk. Why choose GBGroup for Identity Intelligence? The world s foremost Identity Intelligence vendor, GBGroup is trusted by corporations like (Western Union, HSBC and Barclays) to protect their business interests. Over 6000 companies worldwide have implemented our services. We combine an industry-leading platform with the widest and the most up-to-date range of international identity reference data, supported by a comprehensive on- and offline support network. Platform Simple easy-to-use, web-services-based platform with a common API. Straightforward integration with websites and other business systems to work automatically in real time or as a standalone service to support channels like the call centre. GBG is the only company to offer ID Document Image Validation integrated within its ID Verification platform. Check authenticity of customer-submitted document scans, then automatically add the details to the onboarding process. Complete audit trail from first customer sign-up demonstrates compliance with relevant national KYC/AML legislation. Meets stringent information security standards such as PCI DSS and ISO data protection. GBGroup s Identity Intelligence Suite Matchcode Global: capture, validate, cleanse and append customer contact data for 240 countries and territories. ID3global: Check the identity of over 4.3 billion citizens 70% of the world s population. Instinct, Activate & Predator: Credit checking, application and transactional fraud detection. Reference Data Reference data for 4.3 billion citizens worldwide 70% of the world s population contained in over 170 reference datasets, many of which are unique to GBG. Comprehensive coverage for every Asia-Pacific country. Partnering with national data owners and specialists in each country, we constantly enhance and update our all reference files including sanction, PEPs and embargo lists for KYC and AML applications. Designed to support customer-specific data sets, additional reference data can be added quickly and easily to the GBG platform. GBGroup subsidiary DecTech has decades of local experience in sourcing the best regional reference data for credit and fraud applications in Asia-Pacific. Comprehensive address, telephone, mobile number and geolocation reference databases for every APAC country ensure customer contact details enter the database right first time every time. Total support Expert 24x7 global technical support, backed by local access to analysts, programmers and other in-house specialists. Second-to-none, account-managed client service. Local offices across Asia-Pacific ensure we are close to our clients markets. Which business sectors most need eidv and why? e-commerce: Rapid customer onboarding, lower costs and verifying card payments. If the delivery address is different to the payment card address, is the buyer the cardholder or a fraudster? Foreign exchange, money transfer and remittance services, peer-to-peer lending: Demonstrate full compliance with KYC, AML for new account holders. Detect and prevent fraudulent transactions. Retail and investment banking, digital currency exchanges and traders, online payment providers, pre-paid card providers: KYC, AML checks and identity verifications for new accounts. Detect and prevent card fraud, skimming and identity theft. Car, home and other consumer insurance products. Fraudulent insurance applications and claims are rising in Asia-Pacific. Airlines: rapid ID checking to support online ticket sales and check-in. Online, age-limited businesses: where verifying age and identity are vital, we can check the age for more than 75% of global citizens. 4 5

5 Identity Intelligence Solutions from GBGroup Matchcode Global Matchcode Global supports customer data capture, validation and batch cleansing for over 240 territories worldwide. Capture, validate, cleanse and append postal and addresses, mobile and landline telephone numbers and geolocation codes all through a single interface in a few seconds. Unparalleled coverage and accuracy We offer enhanced reference data for all inhabited countries and territories in Asia-Pacific. GBG s proprietary relationships with regional data suppliers delivers superior accuracy and detail over stock files from national postal providers. Built to support Asian character sets Matchcode s Unicode compatibility lets it handle Asian character sets with ease. Employ Kanji and Kana in Japan, Hangul for Korea, select simplified Chinese characters for China or traditional ones for Taiwan and Hong Kong. One address, multiple characters Use transliteration to instantly convert Latin (Roman or single-byte) alphabets to their double-byte local equivalent. Matchcode can capture a Japanese address in Latin characters then validate and output in Kanji and vice versa. ID3global Check a new customer s identity and assess their risk or value in less than a second no matter where you are located, whatever the scale of your organisation or the number of countries you operate in. ID3global delivers this through a single simple interface. Maximum customer acquisition. Minimum fraud. Authenticate age, address and identity in real time as part of the customer registration process. Spot known fraudsters and criminals while complying with AML and KYC regulations through access to detailed reporting on the peps & sanctions matches. Global coverage, local flexibility Configure ID3global to suit each territory s legal and cultural requirements, your own customer processes and the acceptable level of risk in each case. Fraud identification for over 1.5 billion devices. Checks validity of passports, ID cards, driving licences and credit cards worldwide. DecTech Dectech has decades of experience in helping Asia-Pacific businesses combat fraud. Our Activate, Instinct and Predator applications work together to optimise onboarding plus ongoing fraud detection in real time. Activate Automate account opening Build credit and fraud screening into high-speed, automated customer onboarding workflow. Decide instantly whether to accept new business. Identify especially valuable new customers and treat them appropriately. Instinct Detect application fraud Check the information a customer supplies against our multi-layered identity reference data. Set your own rules and risk scores to pass or fail applications. Screen out fraudsters and reduce false positives to an absolute minimum so maximizing the number of good customers accepted. Predator Pinpoint transaction fraud Identify existing customer accounts compromised by identity theft, customer deception or even account takeover. Use sophisticated scoring algorithms and detailed shared databases to detect potentially fraudulent transactions. Assess risk and alert staff automatically if necessary. 6 7

6 About GBGroup (GBG) The most profitable and successful organisations recognise the value of understanding the individual identity of their customers and employees. GBG combines this concept of identity with technology to create an environment of trust, so that organisations can employ people and connect, communicate and transact with customers, safety and responsibility. We call this identity Intelligence. Our partnership with GBGroup has supported the roll out of our online international payment service into new jurisdictions. Electronic identity verification makes the application process simple for our customers and allows us to onboard them in a scalable manner. Through GBGroup we are able to access the verification service in a number of countries, removing the need to source a new provider each time we enter a new jurisdiction, which saves us administration costs and IT development time. Contact DecTech Solutions Ltd First Floor, 722 Mt. Alexander Road Moonee Ponds Victoria 3039, Australia T: E: enquiries@gbgplc.com w: OzForex Group Head of Compliance Jason Rohloff 8 9

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