Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

GBGROUP ACQUIRES CDMS LIMITED, (TRANSACTIS), FOR £6M

Richard Law CEO of GBGroup

GBGroup plc, the specialist in identity intelligence solutions, has acquired the entire issued share capital of CDMS Limited, (trading as Transactis), a provider of data management services, from the Shop Direct Group for £6m. The combination of Transactis’ advanced anti-fraud services, marketing solutions and transactional data with GBG’s existing services and expertise will enable businesses to understand their customers identity in real-time with far greater accuracy.

Transactis’ unique data assets, derived from understanding the shopping habits of over 40m UK citizens, will also help GBG in strengthening processes that ensure genuine customers receive better service. It will help retailers, for instance, to understand purchaser profiles to customise and tailor the best possible service.

The data and services provided through the acquisition will help GBGroup’s clients, including Thomas Cook, FitnessFirst and Ikano in the UK, in the race to recognise and understand customers better – even when interacting across multiple channels.

Richard Law, CEO of GBGroup

Richard Law, CEO of GBGroup

Recognising who to deal with – and who to avoid – is also a vital component of driving out identity related frauds.  The UK saw a rise of over 60% in online fraud last year and, in the area of employee fraud, 63% of all the confirmed fraud recorded by CIFAS in the first half of 2014 was related to job applications where serious fraudulent declarations about employment history, qualifications or criminal records have been made. GBG is committed to providing its clients with the robust intelligence they need to make decisions aimed at protecting businesses and their customers.

Transactis provides GBGroup with a strong customer base across both public and private sectors, particularly within the retail sector. GBG will continue to partner with Shop Direct Group to develop its identity intelligence solutions to improve the online shopping experience and enhance its fraud screening capabilities

In summary the acquisition of Transactis will:

  • Offer GBG clients even stronger marketing and data-related services, connecting with customers in real-time accurately and with relevance.
  • Enable GBG to help businesses combat the threat of identity fraud in the cyber age by strengthening its Identity Verification and Anti-Fraud solutions with Transactics’ unique data sources
  • Extend the GBG customer base with new customers such as Nationwide Building Society, Betfair, MBNA and HMRC

Richard Law, CEO at GBGroup, commented:

“The addition of the core capabilities of Transactis means our clients will receive best in class solutions that help them understand the identity of UK citizens and respond to their needs much more effectively. Transactis will also give us a massive lift in the battle against data driven crime and the misuse of identity information. The acquisition will arm GBG with enhanced skills and technology that will help businesses understand who they are dealing with – across multiple channels and in real time.

A spokesman for Shop Direct Group said

“GBGroup offers an excellent opportunity for the continued development of Transactis staff and customers. It is extremely well positioned to build upon Transactis’ existing reputation for industry leading insight and marketing services and we feel that, together, Transactis and GBG will continue to be a real force in the identity intelligence market.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post