BNP Paribas Personal Finance in Spain advances global fraud detection with award-winning tech

BNP Paribas Personal Finance in Spain advances global fraud detection with award-winning tech
04.10.2019 09:05 am

BNP Paribas Personal Finance in Spain advances global fraud detection with award-winning tech

Digital Identity , Financial

BNP Paribas Personal Finance in Spain, turns to GBG, global identity data specialist, across its commercial brand, Cetelem, to detect and prevent fraud for online customers. 

With over 27 million individual customers worldwide, the organisation requires sophisticated technology that can read and act upon data quickly, in order to detect fraud and deliver the frictionless banking experience its customers are accustomed to.

It also needs to successfully minimise potential losses for both the bank and the customer, in the face of ever more creative ways in which criminals try to steal money.

GBG’s award-winning application fraud solution, GBG Instinct, enables Cetelem Spain to make quick, data driven decisions on new applicants while also speeding up their credit requests.

Spain has become the latest region of the BNP Paribas Personal Finance group to implement GBG’s technology, as part of the company’s commitment to roll out the solution globally, meaning it can process incoming data in real-time so the potential fraudulent nature of a transfer can be determined in less than a few seconds

The cutting-edge tech draws on 18 different matching algorithms to intelligently compare information provided during registration against rich layers of identity reference data. This means no delays for good customers, high fraud identification rates, and far fewer time-wasting false positives.

Ultimately, BNP Paribas Personal Finance benefits from limited fraud losses, reduced manual processes, improved operational efficiency, and stronger safeguards for protecting its reputation.

Javier Delgado Herreros, Risk Director for B2B acquisitions at BNP Paribas, in Spain, says: “Fraud matters. Protecting our customers and preserving their faith in online channels is important for maintaining our reputation as a trusted institution

“GBG Instinct is a powerful tool for our teams of specialists who can gather, maintain and analyse important data within a matter of seconds. Bad actors are becoming increasingly sophisticated so it’s essential that we continue to use technology which keeps up with the rate of innovation.”

Carol Hamilton, Regional Director, EMEA at GBG says: “BNP Paribas is at the forefront of financial services industry when it comes to adopting new technologies. We’re delighted to play a part in the bank’s transformation programme and support them in leveraging data to the benefit of its customers.”

Related News

Webinar Highlights on Digital Identity 2.0 Webinar Hosted by Group Futurista

After hosting three high-flying webinars in a row, Group Futurista organized its fourth webinar in the #FutureCast Webinar Series on the 30th of July, 2020.

This being... Read more »

SwissBorg automates onboarding process with digital identity verification powered by Onfido

SwissBorg has partnered with Onfido to securely verify applicant identities for its wealth management platform, providing a seamless customer... Read more »

Global payments firm Sokin partners with Jumio to disrupt the world of cross-border transfers

Sokin, the new generation payments firm, has announced a partnership with Jumio to introduce the latest digital identity verification... Read more »

Prove Sets Standard for Modern Identity Authentication with New Brand, First Major Acquisition, and $100M Investment

Payfone, the modern platform for continuous identity authentication, announced today that it has rebranded as Prove. The rebrand... Read more »

UK Fintech Curve Taps Onfido to Provide Streamlined Onboarding for its Customers

Curve, the banking... Read more »

Group Futurista Geared up to Launch its 4th Futurecast Webinar Series of Reimagining Digital Identity During COVID-19

After three grand successful series of webinars, Group Futurista is organising its fourth in the ‘Futurecast Webinar Series”  - Reimagining Digital Identity during and after... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel