Re Agreement
GB Group PLC
10 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 with
Callcredit, part of the Skipton Information Group, for the provision of data,
identity verification services and credit reports to URU(TM), its anti-fraud and
age verification platform jointly developed and marketed with BT.
Under the arrangement, GB's existing agreements with Skipton Information Group
will be consolidated through Callcredit and extended for five years subject to a
three year review. In addition, Callcredit will widen the scope of Callcredit
services 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 crime
and identity fraud. The extension and consolidation of our agreements with
Callcredit is consistent with our favourable long term view of the market for
Online Identity Verification Services, our good progress to date, and
accordingly, 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 DataAuthentication
technology and, in particular, URU(TM).'
Mike Green, Callcredit's Chief Executive, said:
'Callcredit is pleased to be extending and evolving its relationships with GB
and BT on URU(TM). The demand for ID Verification and related Financial Crime
Prevention solutions continues to grow faster in the UK than in most markets.
Callcredit continues to provide innovative and competitive solutions in this
market, and values its close working relationship with GB and BT which has
enabled it to bring its CallID technology to their URU(TM) clients.'
- Ends -
For further information, please contact:
GB Group plc
Mona Navin-Mealey, Finance Director 01244 657333
Weber Shandwick Square Mile 020 7067 0700
Richard Hews
Rachel Taylor
Website www.gb.co.uk
Notes to Editors
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 £1.3 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 up-to-date UK and
International population 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.
The market for identity verification checking continues to grow. Research
published in February 2005 showed a 45% increase in the number of individuals
accessing gaming sites compared to the previous year. In addition, it is
predicted that around 10% of potential revenue is lost by Mobile
Telecommunications operators as a result of fraud and furthermore, the British
Bankers Association reported in March 2005 that losses of its members
attributable to fraud had increased by 11% compared to the previous year.
GB is working closely with organisations such as Gamcare, the charity promoting
responsible gambling, and RGA (Remote Gambling Association), formerly ARGO, to
help promote better understanding by gambling companies of the requirements of
good social responsibility processes. We are also working closely with some of
our clients to help them develop their social responsibility policies and
practices thereby ensuring they are well placed to address any issues in this
area 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 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).
This information is provided by RNS
The company news service from the London Stock Exchange