Gb Group Regulatory News (GBG)

10 Nov 2005 07:00

GB Group PLC10 November 2005 Thursday, 10 November 2005 GB GROUP PLC ("GB") GB announces new Strategic Agreement with Callcredit GB announces today that it has entered into a new strategic arrangement withCallcredit, part of the Skipton Information Group, for the provision of data,identity verification services and credit reports to URU(TM), its anti-fraud andage verification platform jointly developed and marketed with BT. Under the arrangement, GB's existing agreements with Skipton Information Groupwill be consolidated through Callcredit and extended for five years subject to athree year review. In addition, Callcredit will widen the scope of Callcreditservices that can be delivered via the URU(TM) platform. Commenting, Richard Law, GB's Chief Executive, said: "The success of the URU(TM) service is in its ability to tackle financial crimeand identity fraud. The extension and consolidation of our agreements withCallcredit is consistent with our favourable long term view of the market forOnline Identity Verification Services, our good progress to date, andaccordingly, the prospects of URU(TM). In recent months, the efficacy of URU(TM)has enabled GB to strengthen significantly its position in each of its core markets of Online Gaming, Mobile Telecommunications and Financial Services and long-term relationships with our key partners, such as Callcredit, will enable us to continue to underpin our strategy of expansion for GB's DataAuthenticationtechnology and, in particular, URU(TM)." Mike Green, Callcredit's Chief Executive, said: "Callcredit is pleased to be extending and evolving its relationships with GBand BT on URU(TM). The demand for ID Verification and related Financial CrimePrevention solutions continues to grow faster in the UK than in most markets.Callcredit continues to provide innovative and competitive solutions in thismarket, and values its close working relationship with GB and BT which hasenabled it to bring its CallID technology to their URU(TM) clients." - Ends - For further information, please contact: GB Group plcMona Navin-Mealey, Finance Director 01244 657333 Weber Shandwick Square Mile 020 7067 0700Richard HewsRachel Taylor Website www.gb.co.uk Notes to Editors About URU(TM) The URU(TM) service, the DataAuthentication division's principle offering, hasbeen developed jointly with BT. It combines GB's Authenticator(TM) search engineand decision making software, access to GB's comprehensive range of identitydata and BT's high capacity web delivery. It helps organisations to protectthemselves from the growing problem of identity theft and fraud, which isestimated to cost the UK economy over £1.3 billion per annum. URU(TM) enablescompanies subscribing to the service to make an instant decision whether toaccept the identity claimed by any given individual and confirm their age inseconds. URU(TM) works by cross checking personal information provided by an individual atthe point of acquisition against a comprehensive range of up-to-date UK andInternational population datasources to confirm that an individual is who theyclaim to be, live where they claim to live and meet certain minimum legal agerequirements. No personal data is disclosed by the reference databases and as a result URU(TM)is compliant with the Data Protection Act. URU(TM) also provides a valuable audit trail demonstrating that the necessarychecks have taken place, thereby helping companies comply with legislation,including the 2nd European Money Laundering Directive, Proceeds of Crime Act andMinimum Legal Age requirements of certain industry sectors. The addition of data from CallCredit also enables users of URU(TM) to incorporatecredit reference data. The market for identity verification checking continues to grow. Researchpublished in February 2005 showed a 45% increase in the number of individualsaccessing gaming sites compared to the previous year. In addition, it ispredicted that around 10% of potential revenue is lost by MobileTelecommunications operators as a result of fraud and furthermore, the BritishBankers Association reported in March 2005 that losses of its membersattributable to fraud had increased by 11% compared to the previous year. GB is working closely with organisations such as Gamcare, the charity promotingresponsible gambling, and RGA (Remote Gambling Association), formerly ARGO, tohelp promote better understanding by gambling companies of the requirements ofgood social responsibility processes. We are also working closely with some ofour clients to help them develop their social responsibility policies andpractices thereby ensuring they are well placed to address any issues in thisarea as they arise and to adopt "best practice" behaviour. About GB Group plc GB Group plc provides a range of products and services to enable organisationsto capitalise on one of their greatest assets - customer data. The Company hasexpertise across a range of sectors and is able to transform customer data intovaluable information, enabling clients to make better, more informed decisions. The development of innovative software and services, through to the provision ofthe UK's most comprehensive consumer business databases - The National Register(R) and the National Authentication Register - positions GB Group as a widelyacknowledged industry leader in its specialist markets. GB Group plc has three complementary business areas: • The DataAuthentication division helps businesses validate personal identity information and provides anti-fraud solutions to fight crime. • The DataIntegrity division helps companies capture and maintain accurate customer contact data, an essential foundation for any profitable customer relationship. • The DataSolutions division empowers companies to consolidate and analyse customer data from various sources, enabling them to make better, more informed decisions. Established since 1989, GB's core competencies combined with industry sectorknowledge have enabled the company to deliver significant value to organisationssuch as Standard Life, Scottish Power and TD Waterhouse in helping them derivemaximum value from their customer data and sustain real advantage over theircompetition. GB Group is supported by its key relationships with major organisations withwhom it works with on major initiatives (an example being British Telecom),together with a team of highly talented and motivated staff successfullydelivering business solutions. GB Group plc is listed on the London Stock Exchange (www.gb.co.uk). This information is provided by RNS The company news service from the London Stock Exchange