SINGAPORE, 10 December 2019 – For the first time in the GBG’s 30-year history, international revenue outside of the UK has increased from 35% to 57% of its total business which has spurred by continued growth from new logo wins and existing customers across all focus geographies.
GBG, the global technology specialist in fraud and compliance management, identity verification and location intelligence, announces its unaudited results for the six months ended 30 September 2019.
Overall, GBG’s YoY revenue growth is strong at 62%, with the full-year outcome for both revenue and profit expected to be in line with expectations.
CEO at GBG, Chris Clark says: “I am pleased with the progress we have made against our strategic objectives in the first six months, which has seen us deliver good growth. This was driven by a strong organic performance (helped in part by the accelerated timing of some contracts for our Fraud division), the successful integrations of our acquisitions and ongoing investment to support our differentiation.
In the fraud space, GBG has built on existing commercial relationships and won new customers in Europe, including BNP Paribas, Arval and Standard Life. In the APAC region, GBG has extended business with AmBank in Malaysia and Citi in Indonesia and Taiwan.
Recruitment in APAC continues for sales, marketing, product and technology to grow its key markets in Vietnam, Thailand, Malaysia, Indonesia, China, Singapore and Australia. The APAC team now counts for over 25% of global headcount.
Managing Director of APAC at GBG, June Lee says: “For our existing markets in Australia, China, Indonesia, Malaysia and Singapore, the focus will gradually lean into new segments like insurance and ecommerce, in addition to finance and banking.”
Investments are made to develop four new fraud solutions through GBG’s in-house R&D, including its flagship Instinct Hub now as a platform solution, Predator 5.0, machine learning and orchestration, with launch announcements upcoming.