GB Announces New Data Service
GB Group PLC
10 May 2006
For immediate release 10 May 2006
GB GROUP
('GB Group' or 'the Company')
GB Announces New Data Service: 4C-UK(TM)
Following completion of a series of exclusive agreements, GB today announces the
launch of its new lifestage data service, 4C-UK(TM). This exclusive service
utilises data from Property Searches carried out during the final stages of home
conveyancing, to predict accurately when individuals will move home.
Property Searches are conducted through various organisations in relation to the
local area information and property risks. To ensure that the service is able
to deliver significant benefits to its clients, especially those with national
coverage, GB has secured exclusive agreements with a number of the major
providers of such Property Searches so that the 4C-UKT(TM) service incorporates
data representing up to 70% of the properties being bought and sold each year in
England and Wales.
This data is the first component of 4C-UK(TM). It is unique and will enable GB's
clients to foresee their customers' intention to move house. This will provide
significant value as one in seven adults in the UK move home each year, equating
to approximately 1.3 million households.
People moving home account for the greatest loss of customers for utility and
other companies compared to any other single, lifestage change event. The
homemoving process is also disruptive for homeowners who often omit to inform
suppliers when they move. Clients using the 4C-UK(TM) service will be alerted
immediately when a search takes place, thereby enabling them to take proactive
measures to retain their customers and provide them with additional products and
services that may be required at their new home. As Property Searches normally
take place approximately six to eight weeks in advance of a house move, the
4C-UK(TM) service will ensure continuity of customer relationships and much less
disruption.
GB intends to continue to expand the 4C-UK(TM) data service by adding further data
sources associated with key lifestage changes of individuals. This will enable
organisations to tailor their strategies more proactively in order to retain
their customers as they go through lifestage changes such as achieving key
qualifications, having children and retirement as well as moving house.
Richard Law, GB Group's Chief Executive, commented:
'The launch of the 4C-UK(TM) service is a key strand of the Group's strategy to
develop innovative data services that can be delivered online and transform the
value of the relationship between our clients and their customers. The first of
these online services was GB's electronic age and identity verification service,
URUTM, developed and marketed jointly with BT, which has since become a market
leader.
4C-UK(TM) uses the same technology as URU(TM) to deliver extremely accurate data
in real time over the web, maximising its 'freshness' and value. These services
can operate in an 'Alert' mode, constantly searching for important changes to a
customer's status and proactively alerting that change to our clients.
Traditionally, data services have been provided to clients reactively but, with
'Alerts', information can be proactively delivered in response to events, such
as a house move, signifying a significant opportunity, or risk, for which the
value to the client is maximised if acted on immediately. We believe that this
represents a radical change to the way in which data services business models
will operate in future.'
- Ends -
For further information, please contact:
GB Group plc
Richard Law, Chief Executive 01244 657333
Mona Navin-Mealey, Finance Director
Weber Shandwick Square Mile 020 7067 0700
Richard Hews
Helen Thomas
Website www.gb.co.uk
Notes to Editors
About GB Group plc
GB Group plc provides a range of products and services to enable organisations
to capitalise on one of their greatest assets - customer data. The Company has
expertise across a range of sectors and is able to transform customer data into
valuable information, enabling clients to make better, more informed decisions.
The development of innovative software and services, through to the provision of
the UK's most comprehensive consumer business databases - The National
Register(R) and the National Authentication Register - positions GB Group as a
widely acknowledged 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 sector
knowledge have enabled the company to deliver significant value to organisations
such as Standard Life, Scottish Power and TD Waterhouse in helping them derive
maximum value from their customer data and sustain real advantage over their
competition.
GB Group is supported by its key relationships with major organisations with
whom it works with on major initiatives (an example being British Telecom),
together with a team of highly talented and motivated staff successfully
delivering business solutions.
GB Group plc is listed on the London Stock Exchange (www.gb.co.uk).
About URU(TM)
The URU(TM) service, the DataAuthentication division's principle offering, has
been developed jointly with BT. It combines GB's Authenticator(TM) search engine
and decision making software, access to GB's comprehensive range of identity
data and BT's high capacity web delivery. It helps organisations to protect
themselves from the growing problem of identity theft and fraud, which is
estimated to cost the UK economy over £1.7 billion per annum. URU(TM) enables
companies subscribing to the service to make an instant decision whether to
accept the identity claimed by any given individual and confirm their age in
seconds.
URU(TM)works by cross checking personal information provided by an individual at
the point of acquisition against a comprehensive range of datasources to confirm
that an individual is who they claim to be, live where they claim to live and
meet certain minimum legal age requirements.
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 necessary
checks have taken place, thereby helping companies comply with legislation,
including the 2nd European Money Laundering Directive, Proceeds of Crime Act and
Minimum Legal Age requirements of certain industry sectors.
The addition of data from CallCredit also enables users of URU(TM) to incorporate
credit reference data.
This information is provided by RNS
The company news service from the London Stock Exchange