GBG launches GBG Predator to improve fraud detection for digital banking transactions

According to GBG’s APAC Covid-19 fraud risk poll results, digital retail banking services such as e-wallet, e-loan, digital onboarding and digital credit card applications are growing in demand.

37 percent of the respondents also see transaction fraud as the fraud typology that they are most vulnerable to.

According to June Lee, Managing Director, APAC, GBG, standard fraud model deteriorates over time exposing businesses to new fraud typologies and fraud losses.

The global technology specialist in fraud and compliance in its efforts to tackle the issue announced its expansion of AI and machine learning capabilities for its transaction and payment monitoring solution.

‘Predator’, its latest launch aims to make deep learning and predictive analytics available to their entire digital risk management customer journey.

“The ability to easily spot complex fraud and misused identities
in first party bust outs and mule payments, high volume and high velocity frauds such as online banking account takeover and card not present frauds across both onboarding and ongoing customer payments becomes more pressing today,” said Michelle Weatherhead, Operations Director, APAC, GBG.

“In addition, segments like SME lending and microfinancing would be able to harness machine learning to spot irregularity in borrower patterns by assimilating both identity, profile and behavioural type data. GBG Machine Learning is able to analyse large sums of data using algorithmic calculations on multiple features to determine fraud probability in greater accuracy,” said Alex Low, Data Scientist, GBG.


Please enter your comment!
Please enter your name here

Latest News

HealthMetrics secures a total of RM20 million as part of Series A funding

Corporate healthcare benefits and wellness management platform, HealthMetrics secured a total of USD$ 5 million (approximately RM 20 million) as part of...

WSP 2.0 – More is needed for the hard-hit sectors

By Afifah Suhaimi, The newly targeted Wage Subsidy Programme 2.0 (WSP 2.0) introduced by the government under the Prihatin...

IJM Land’s latest residential project, Rimbun Jasmine receives overwhelming response

To help homebuyers in finding the right home and help achieve greater heights in life, IJM Land has launched Rimbun Jasmine, a...

AEON Credit posts PBT of RM76.5 million for Q2FYE21

AEON Credit Service (M) Berhad (“AEON Credit” or the “Company”) announced revenue for the second quarter ended 31 August 2020 (“Q2FYE21”) of...

AirAsia’s Santan set for rapid expansion in Malaysia

Santan, the world's first restaurant brand to offer inflight food on ground, is set for a rapid expansion in Malaysia with the...

Must read

PropTech and the pandemic

By Adrian Un, CEO, SkyBridge International Digitisation and PropTech (property technology) have been buzzwords in recent years, but following...

Empower local agility to unlock new business models post-Covid-19

By Scott Hensarling, Senior Client Partner and Tobjorn Karlsson, Senior Client Partner, Korn Ferry, 2020 has challenged many assumptions...

Don’t despair, targeted repayment assistance is available

By Azaddin Ngah Tasir, CEO of AKPK (Agensi Kaunseling & Pengurusan Kredit), As the automatic blanket moratorium comes to...

Digital transformation for the retail CIO: Connecting digital with physical

By Bruce Richards, Senior Industry Marketing Manager – Retail & Consumer Goods, Adobe, Digital is certainly disrupting retail. Today’s...