GB Group Full Year 2021 Revenue Up 12.1%

GBG, the experts in digital identity, has announced record financial results for FY21 – with constant currency organic revenue growth of 12.1% taking full year revenue to £217.7m, and adjusted operating profit increasing by 20.8% to £57.9m.

With the pandemic forcing digital acceleration, businesses turned to GBG to help onboard more customers while reducing the risk of fraud, without ever compromising on compliance
In the past year, GBG has expanded its expertise by acquiring Hooyu Investigate and investing in Singapore based fraud detection business Credolab
The AIM listed company is building on the FY21 success by expanding its global team, and is recruiting for more than 100 roles globally

The AIM-listed company – which started business over 30 years ago in Chester, England – has operations and customers in the US, Europe and Asia-Pacific. It enables fast, simple and compliant customer onboarding with reduced risk of fraud for many of the world’s leading organisations.

GBG’s solutions are trusted by companies across the world to make the digital world safer. In FY21, the experts in digital identity welcomed hundreds of new customers, including a leading digital bank and a global online food order and delivery service. GBG also expanded its relationship with hundreds of existing customers. And, over the past year, the importance of GBG’s solutions has never been clearer.

Covid-19 has accelerated the need for companies, from a wide range of sectors, to verify people quickly and efficiently. Online retail has boomed, with eCommerce projected to grow by a further 14.3% in 2021. The risk of fraud has simultaneously risen. The Annual Fraud Report by IDology, a GBG company, revealed that the number of companies reporting fraud attempts increased by 53% in 2020, when compared to the previous year. The report also revealed that identity verification is now the number one challenge for businesses in addressing fraud.