GBG’s international revenues increase to 57% of total business

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Digital solutions to protect organizations against increasingly complex online fraud and stringent compliance regulations, and enable consumers to transact safely and securely online, have led to strong YoY growth

 

SINGAPORE – Media OutReach – 10 December 2019 – GBG (AIM: 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.

 

For the first time in the organization’s 30-year history,
international revenue outside of the UK has increased from 35% to 57% of its total
business. This is spurred by continued growth from new logo wins and existing
customers across all focus geographies.

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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.

 

In November 2019, the group announced the appointment of three
senior leaders, to align to the business’ strategic focus on increasing its footprint in
the region.

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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.

 

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.

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2019

(Restated)*2018

Total Growth

(Restated)*2018 (CCY)

2019 Organic Revenue
Growth (CCY)

Total Revenue

£94.3m

£58.3m

62%

£58.6m

17%

 

Enhancing
products and data offering continues to be one of the main drivers to achieve
revenue growth. In APAC, exclusive partnership with NavInfo Europe provides
address data within mainland China. Data sets are expanded to provide better
global and APAC specific identity access, checks and match rates with Indian
Driving License and UK Educational Data.

 

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.

 

On M&A, good
progress has been made with integrating the two recent acquisitions made by
GBG. Both VIX Verify greenID and Harmony RightAddress product lines in
Australia are growing well with sales, data and product integration delivering
benefits, similar with IDology in the US.

 

Vix Verify’s
successful performance has been driven by
growth of key accounts,
such as TabCorp and HSBC, and winning new business, including Victoria
University and KC Securities. Cross portfolio solution adoption picks up momentum
— with Australia’s diversified financial services group, FlexiGroup, expanding its
adoption of GBG’s solution to include fraud portfolio in addition to its current
identity portfolio.

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Chris Clark, CEO at GBG
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.

 

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“We had a strong organic growth performance across each of
our three key solutions of Location, Identity and Fraud across our core
geographies. This performance has also been supported by the successful
integrations of VIX Verify and IDology and we are excited about our future
prospects and how these businesses will develop and strengthen our
propositions. So far the second half of the year has begun in line with our
expectations and we remain confident in meeting full year market consensus
.”

 

June Lee,
Managing Director, APAC at GBG
says: “APAC
continues to drive strong revenue growth through investment and expansion into
new key markets namely Vietnam, Thailand and Philippines. 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.”

 

“Growth requires an ongoing maturing of our APAC
tech ecosystem — development of new symbiotic tech and data partnerships within
this region remains a priority.”


About GBG:

GBG offers a series of solutions that help organizations quickly
validate and verify the identity and location of their customers.

 

Our innovative technology leads the world in location
intelligence and fraud detection. Our products are built on an unparalleled
breadth of data obtained from over 200 global partners which helps us to verify
the identity of 4.4 billion people globally.

 

Our headquarters are in the UK and we have over 1,000 team
members across 16 countries. We work with clients in 72 countries including
some of the best-known businesses around the world, ranging from US e-commerce
giants to Asia’s biggest banks and European household brands.

 

To find out more about how we help our clients establish trust
with their customers, visit www.gbgplc.com/apac,
follow us on Twitter @gbgplc or LinkedIn.

GBG's international revenues increase to 57% of total business - Brand Spur

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GBG's international revenues increase to 57% of total business - Brand SpurGBG's international revenues increase to 57% of total business - Brand Spur

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GBG's international revenues increase to 57% of total business - Brand SpurGBG's international revenues increase to 57% of total business - Brand Spur

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