Wectory chooses GBG to prevent property sector fraud with alternative mobile data intelligence

10 MAY, 2023 LONDON: GBG, the global expert in digital location, identity verification and fraud software, has been selected by Wectory, the UK’s first platform for upfront rental payments, to build trust for landlords by improving confidence in identity verification, reducing fraud and streamlining the customer experience. Wectory works with over 1,500 UK landlords to provide upfront rental payments for up to a year in advance. As a mobile first business, the startup onboards its customers via a mobile application. It selected GBG as its identity verification and fraud prevention solution provider because of its strength in mobile intelligence data.

Through its Mobile Identity Intelligence solution, GBG integrates real-time mobile network operator data into its identity verification and anti-fraud solutions to help businesses combat origination fraud as well as deliver a better customer experience.

By integrating this solution into its platform, Wectory has access to a rich variety of data attributes and fraud signals direct from mobile operators. This enables the start up to reliably match a customer’s identity to their mobile device, confirming whether they are a legitimate identity at the very beginning of the onboarding journey via the Wectory app as well as detect fraud signals from a mobile device in real time, such as call forwarding and SIM swap detection. As well as this, GBG’s Mobile Authentication reduces the reliance on SMS one-time passwords (OTPs) and provides a in-app multi-factor authentication process, creating a more seamless and secure customer experience.

Boris Huard, MD Identity & Fraud at GBG, said, “More people than ever before are using mobiles every day. In fact, there around 6.64 billion unique mobile internet users worldwide, representing nearly 84% of the global population. Convenience is driving mobile adoption and we are seeing that people increasingly prefer to sign-in, open new accounts and verify their identities via a mobile device.

This presents a huge opportunity for businesses, but it also comes with challenges; mobiles have become a gold mine of personal information and data for fraudsters, presenting a huge risk of identity fraud. To combat this threat, it is critical for organisations to apply accurate, real-time fraud decisioning using the right data and intelligence. GBG Mobile Intelligence strikes the right balance of inspiring trust for consumers and offering a robust way to validate digital identity, as well as significantly preventing fraud without comprising the ease of mobile.”

Mansur Kurmakaev, Co-Founder & CPO at Wectory, said, “Wectory was created as a mobile-first business to meet demands of a new digitally empowered customer. Partnering with GBG allows us to continue to build trust with UK landlords by allowing them to conveniently and securely onboard and interact without any unnecessary barriers, whilst still protecting against fraud right from the start of a customer’s journey.”

Find out more at https://www.gbgplc.com/en/

About GBG

GBG is the leading expert in global digital identity. We combine our powerful technology, the most accurate data coverage, and our talented team to deliver award-winning location intelligence, identity verification and fraud prevention solutions.

With over 30 years’ experience, we bring together a team of over 1,250 dedicated experts with local industry insight from around the world to make it easy for businesses to identify and verify customers and locations, protecting everyone, everywhere from fraud.

Learn more at www.gbgplc.com and follow us on LinkedIn and Twitter @gbgplc.

About Wectory

End-to-end rental payment platform, supercharged with factoring. Wectory, as the Fintech/Proptech disruptor, provides landlords with their rent upfront and tenants with flexible payment date solutions, revolutionising the way people deal with rent. Learn more at https://www.wectory.com/ and follow us on LinkedIn