GBG reports strong revenue in H1 as digital activity accelerates

8 December, 2020, London, UK: GBG (GBG:AIM), the global specialist in identity data intelligence, today announces the strongest half year performance in its 30-year history, reporting £103.5m revenue between April and September 2020.

Chris Clark, CEO, GBG said: “In a year of dramatic change and challenges, I am proud of what the exceptional GBG team has delivered for our customers. From winning new logos, processing record-breaking identity and location verification levels, and supporting global organisations who have been impacted by the Covid-19 pandemic, our team members have shown outstanding resolve. Our priority continues to be keeping our team members across the world safe, while helping our customers prosper online”.

The strong H1 performance is driven by the rapid surge in global commerce, as demand for GBG’s Identity Verification and Location Intelligence solutions soared to unprecedented levels in some countries and geographies

GBG processed over 33 billion global address verification transactions via its Loqate solution. It was also a record-breaking half year for GBG’s Identity team, which helped customers verify over 175 million identities.

GBG’s technology enables 20,000 businesses across the globe to quickly validate and verify the identity and location of their customers, so they can transact safely online and fight fraud.

The GBG team has continued to help its customers quickly adapt and respond to the critical challenges they face with Covid-19. In the US, for example, the Identity team successfully helped to ensure rapid access to cash for businesses negatively impacted by the pandemic.

H1 highlights across GBG’s core business areas of Location, Identity and Fraud include:

• £103.5m in revenue – the strongest performance in GBG’s 30-year history
• 33 Billion global address validation transactions for customers
• 175 Million Identity Verification checks for customers across the globe
• 1019 new customer contracts won against competitors across all regions
• Machine learning capabilities extended across GBG’s fraud solutions, resulting in a 20% uplift in fraud detection for customers
• Strategic investment into Credolabs, leading developer of bank-grade digital risk scorecards, to strengthen fraud capabilities

This news comes in as GBG has also been announced Best Company of the Year at the AIM Awards 2020.