Company builds on recent acquisitions of Acuant and IDology and creates a global product group to further deliver greater benefits for current and future customers
APRIL 6, 2022, LONDON: GBG, the experts in digital location, identity verification and fraud software, today announce the next step in the company’s growth strategy, uniting Acuant and IDology under the leadership of Christina Luttrell, formerly the CEO of IDology. This union creates the largest pure play identity verification and fraud prevention provider in the Americas. To further accelerate global capabilities and ensure a consistent experience with best-of-breed solutions, GBG also announces the formation of a Global Products group led by former Acuant President and CEO Yossi Zekri.
Since the acquisition of Acuant in November 2021, the company has already delivered significant benefits for customers around the world with the combined forces of GBG, IDology and Acuant. Building on the opportunity to introduce existing GBG customers to Acuant capability, we have also seen new customers and projects delivered by the combined businesses. Examples include a top five multinational telecommunications conglomerate that has implemented Acuant’s identity proofing and fraud fighting solutions across all 500 retail locations with 1500 franchised stores to follow suit, delivered via one of the largest global partners in Acuant’s extensive partner network. Acuant and IDology are also making further strides in the fast-evolving cryptocurrency market, working directly with one of the world’s largest global crypto exchanges to extend current Transaction Monitoring, KYC and PEPs and Sanctions re-screening services with data and technology from IDology to further fight fraud and achieve regulatory compliance.
Chris Clark, Chief Executive Officer at GBG, said:
“Following Acuant becoming part of the GBG family, I am delighted the teams are now integrating further to deliver benefits to our existing and future customers. Our strategy has always been based in the principle of “think globally, act locally.” As we have acquired and built capability over the years, we have always been clear on balancing the global reach of technology and globally relevant products like documents, with strong regional execution that adapts our propositions to the needs of local markets, local regulations and local use cases. I couldn’t be more excited about the next steps in our journey.”
By uniting Acuant and IDology, GBG becomes the biggest identity and fraud specialist in the world’s largest and most strategically important market. It also creates an identity network with over 450 million digital identities to fight synthetic fraud, one of the most difficult-to-spot and fastest growing forms of identity fraud, and provides the most comprehensive identity solution, covering KYC, KYB, risk management and fraud detection. Additionally, GBG was recently named by Gartner Research as a Representative Vendor in its Market Guide for Identity Proofing and Affirmation1 which recommends managing risk across the user journey by deploying an orchestration solution to manage identity proofing, fraud detection and user authentication.
Christina Luttrell, Chief Executive Officer, Americas at GBG, remarked:
“North America is the world’s largest and most developed market globally for identity and fraud solutions and represents a tremendous opportunity for us to join forces in delivering deep expertise and innovation. I am honoured to lead this team forward, united in a mission and stronger together to deliver the very best to our growing client base.”
The new Global Products group brings together the document strengths of Acuant and GBG which include the most globally comprehensive identity document library, with proprietary technology and market-leading anti-tampering capability. In addition to documents, it brings together the platform capabilities of the group, including data, document, biometrics, device, PEPs and Sanctions, and crypto monitoring in the core regions of the Americas, EMEA and APAC. As the only provider with proprietary automated fraud, document and data capabilities, GBG’s accelerated innovation and differentiation delivers unprecedented value to customers.
Yossi Zekri, Executive Officer, Global Product at GBG, stated:
“By combining our strengths, including the most skilled industry experts and inclusive, best-in-class technology that serves all of the world’s population, we are empowering businesses, governments and financial institutions to transact with trust whenever and wherever they need it. It is a thrilling time to be transforming the identity space.”
1 Source: Gartner “Market Guide for Identity Proofing and Affirmation,” Akif Khan, 2 March 2022.
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