Financial Risk Management for the Telecommunication Industry AI-BASED SOFTWARE SOLUTION ENABLING TELECOMMUNICATION COMPANIES TO Successfully MANAGE RISKS AND FIGHT FRAUD

Telecommunication companies are exposed to a growing number of risks, a major one being new subscribers using services and receiving goods without paying their bills. Nowadays mobile phones are also used to perform payments in different ways, which is a fact that also catches the attention of fraudsters. RiskShield enables Telecommunication companies to manage these, and many more industry specific risks and fight fraud by providing a robust, agile solution with superb risk mitigation and fraud detection results that are accurate and reliable.

Overview

RiskShield provides telecommunication companies with efficient risk management processes across the entire customer lifecycle. Using an advanced application scoring process, fraudsters can be prevented from accessing telecommunication services in the first place. The software not only provides valuable risk scores, but also makes real-time decisions to support telecommunication companies with effective and efficient processes to manage their risks and fight fraud.

RiskShield can promptly detect when a fraud situation occurs. The software addresses multiple fraud scenarios, including payment and subscription fraud as well as International Shared Revenue schemes and Phishing attacks. RiskShield provides a platform which is highly flexible and can be configured to address the dynamic and specific requirements, technology and priorities of each Telecom Service Provider .

Some of the benefits associated with using RiskShield:

  • Revenue assurance and enhancement
  • Highly flexible interfaces and decision modeling capabilities
  • Real-time decision engine and fraud detection
  • Integrated unique Hybrid AI approach including machine learning
  • Complete product suite from decision engine, rule management, case management, Reporting and Business Intelligence

     

What RiskShield can offer

  • Advanced Solvency Checks

    Predict future behavior of new and existing customers and make informed decisions regarding each new application with an advanced scoring system

  • Subscription Fraud Prevention

    Stop fraud at the gate. Subscription fraud is frequently used as an enabler for fraudsters to commit IRSF, PRSF, Commissions Fraud, Handsets Theft, etc. RiskShield provides intelligent real-time controls to prevent fraudsters from accessing services using fake, false or stolen information.

  • Real-Time Payment Fraud Detection

    High performing detection technology to risk assess every individual online and point-of-sale transaction within just milliseconds.

  • Risk based workflow optimization

    Low risk customer requests require less effort to manage than high risk requests. RiskShield provides real-time routing decisions to optimize the workflows.

  • Usage Fraud Detection

    Stay on top of International Revenue Shared Fraud schemes and avoid subscription fraud, PBX hacking and SIM card cloning attacks.

  • Flexible interfacing for complex environments

    Delivers flexible or industry-standard interfaces for complex and propriety telecommunication infrastructures.

  • Powerful Date-Event driven monitoring

    Monitor real-time data or events and be alerted when an anomaly occurs, or a trend begins to set. This can come in handy for call and purchase monitoring.

  • Non-financial activity monitoring

    Combining financial transaction data with non-financial activities e.g. address changes and multiple new account requests.

  • Hybrid AI Decision Modelling

    INFORM’s hybrid AI approach combines expert driven AI technology like fuzzy logic with data driven AI technology (machine learning) in a unique and powerful manner.

Advanced Solvency Check

Advanced Solvency Check

RiskShield offers a wide range of scorecard mechanisms using advanced techniques, such as fuzzy logic decision-making and intelligent scoring algorithms. For every new application request, for example a subscription to a plan and a contract for a mobile device, RiskShield will calculate a total risk score within milliseconds based on multiple criteria using various data feeds from internal and external sources. RiskShield enables accurate and consistent risk scoring and discovers matches in data that are impossible to detect with the naked eye.

Once becoming a new customer, behavior scoring kicks in, which is the process used to calculate credit risk based on a customer's past behavior. It runs automatically on a recurring basis, making it possible to update the credit risk calculation for each customer during the entire life cycle.

Based on its real-time risk assessment, RiskShield can make real-time decisions and provides an orchestration of the risk management process.

 

Fraud Prevention

Fraud prevention

Despite all the efforts, Telecom Service Providers continue to experience a wide array of fraud attacks, severely impacting them and their customers. According to CFCA (Communications Fraud Control Association), Telecom fraud is estimated to be approx. 29 Billion US Dollars annually. Fraudsters employ various methods to obtain access to service, including but not limited to Subscription Fraud, Hacking, Phishing, Account Take Over and Payment Fraud.

RiskShield is a powerful solution to provide Telecom Service Providers with the required capabilities to help prevent these fraudsters from accessing services and promptly detecting when fraud is attempted. It provides the necessary capabilities to address multiple fraud scenarios, offering fraud investigators an easy to use tool to support their job. Being highly flexible, it can be configured to address the specific requirements, technology and priorities of each Telecom Service Provider and is capable of easily dealing with a rapidly changing operating environment .

Partner Commission Monitoring

Partner Commission Monitoring

The process to compensate partners for sales is complex and prone to error. To accomplish its purpose, the process needs to receive all commissionable events on time and have access to the contract conditions effectively in place. There are meaningful risks involved that require the process to be monitored to avoid overpayment, reduction of revenues and prevent attrition. The risks are of varied nature and arise from incorrect or incomplete sales information, system fault, human error, process inefficiency, partners’ attrition, churn and fraud.

To address this challenge, RiskShield can be used to monitor whether the events required to calculate commissions are correct and arrive on time, and to find anomalies in the commissions resulting from the calculation process. It can also validate payments integrity between commissions calculation and the payments effectively processed. In addition, RiskShield can also monitor each partner and point of sale profile based on their activities, for instance volume of sales, services’ activation ratio, subscriber loyalty, disputes, etc.

 

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