Subscription fraud is the starting point for many other telecoms fraud scams; and as such is recognised as the most damaging of non-technical fraud types
Nicosia, Cyprus (PRWEB) April 30, 2012
The weak link at the front-end
“Mobile firms bleed billions to fraud and bill errors”, was the title of a recently published BBC article. The article quotes a Juniper Research estimate that the annual loss to mobile phone firms to billing errors and fraud is at $58bn (£36bn). An also mentioned KPMG report stated that 94% of the telecom operators interviewed said they expect the threat of revenue leakage to increase, and almost half (49%) believe that the increase would be significant.
These alarming observations coincide with a Neural Technologies survey that cited subscription fraud as the number one fraud concern at both fixed line and mobile operators alike. “Subscription fraud”, says the media release: “is the starting point for many other telecoms fraud scams; and as such is recognised as the most damaging of non-technical fraud types”.
Despite the alarmingly escalating situation, the common practice among operators is still “manual” ID examination and data entry, which is slow, error-prone and costly. Mobile firms are not oblivious to this weak link. Neither are they oblivious about the costs and inefficiencies of paper-based customer record management. But only now is there one solution to handle all these issues at the same process, and much more effectively than before.
AU10TIX’s FDI V6 has introduced the market to the concept of “Secure Customer enrollment gateway”. This new generation, machine-learning enhanced solution, carries out the entire process of ID capture, document authentication, and conversion to cleansed, integrated customer records in seconds and at unmatched accuracy. Fraud prevention meets ECM in the world of secure ID documents.
Machine-learning technology boosts ID authentication and processing
ID capture and authentication solutions exist for quite some time. They originally appeared in security-critical environments like airports and border control, where AU10TIX’s roots have been for decades. But these solutions traditionally relied on matching the document scanned to the “official” template, could best cope with ICAO-standard documents, and could read documents that are in good condition.
But life looks a bit different. Too many documents are not ICAO-standard, too many deviate from the standard template because of differences in issuing machinery and materials, and many are simply worn-out to a degree of challenging standard OCR software.
The new generation of “Secure Customer Enrollment Gateway”, ushered in by AU10TIX’s FDI V6, introduces two game changing innovations: Machine-learning enhanced document reading and authentication algorithms, and advanced parameterized decision engines. These translate to a new level of non-standard, off-standard and worn-out document handling capacity. These also translate to an automated improvement in the system’s performance as it processes more documents and to more efficient adaptation to client workflows and policies.
One solution for both fraud and document conversion
Traditionally, fraud prevention and document processing were regarded as two separate issues. When integrated into one solution, the business case for mobile companies becomes compelling.
With AU10TIX’s FDI V6, the range of direct and indirect benefits for mobile companies include:
- Prevention of identity fraud
- better data quality in customer records
- Less errors and gaps in CRM systems
- Less errors and gaps in back-end risk management systems
- Faster, more efficient customer conversion and activation capability
- Higher customer volume handling capacity
- Long-term capacity to secure regulatory compliance
- Tremendous cost-savings in manpower, materials and logistics
FDI V6 can help mobile firms avoid bleeding increasing millions to fraud and bill errors, and help cut costs and boost operating efficiency, translating to many more millions.
AU10TIX, with coop partners like Experian, Amdocs, 3m, and Accenture, are introducing this solution to major players in different markets. An open invitation is extended to all operators who wish to learn about the “Secure Customer Enrollment” gateway solution and evaluate it for their business.
AU10TIX Limited, a fully owned subsidiary of ICTS International N.V, deals with the authentication and digitization of identifying documents, including: Passports, identity cards, driving licenses and other complementary identifying documents. The company specializes in implementing hardware & software based applications used for scanning, identifying and acquiring identity documents, authenticating them and their owners, in real-time. The company's products drastically reduce identity and document based fraud in organizations, reducing the costs associated with processing clients, improving compliance competence and effectiveness with related regulations, while making the sales and support operations more efficient. For more information, visit http://www.au10tix.com, Contact: Ofer Friedman, Head of Marketing Email: ofer(dot)friedman(at)au10tix(dot)com, Tel.: +972-50-4 71 71 50