Neural Technologies and Turkcell’s Fraud & Credit Risk Management Project Wins Global Telecoms Business Innovation Award

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Neural Technologies – a leading risk management software provider – and Turkcell – Turkey’s largest mobile telecoms operator – have been presented with a Global Telecoms Business Innovation Award in recognition of a large-scale fraud and credit risk management software implementation.

Fraud & Credit Risk Management project wins award

www.globaltelecomsbusiness.com and photographer: Martyn Cohen

We are delighted that our project has once again been recognised by leading authorities in the industry. We plan to continue working with Neural Technologies, with Minotaur being an indispensable platform for the future. (Turkcell)

The award, in the category of Business Service Innovation, was presented to representatives from both companies at a glittering ceremony at the Sheraton Park Lane Hotel in London.

The award recognised the work of both companies in implementing Neural Technologies’ Minotaur Fraud & Credit Risk Management solution; replacing disparate fraud systems and credit procedures with one unified risk management solution.

As the investigation work carried out on fraud and credit risk cases is similar, combining the two functions within one single platform/interface is an expedient move by Turkcell, offering monetary, time and resource savings.

The Minotaur Fraud & Credit Risk Management solution provides Turkcell with many other benefits:

Its dynamic (as opposed to fixed) spending limits regularly update based upon customer behaviour, e.g. service usage, spending, predicted spending before the end of bill cycle and payment activity. This not only keeps bad debt to a minimum, it also rewards those able to pay with higher limits, encouraging further spending.

It provides advance warning of bad debt so preventive strategies can be put in place. By continually monitoring each customer’s usage and extrapolating that information, the solution is able to predict whether a subscriber’s spending limit is likely to be breached before billing period end.

Furthermore, in addition to empowering Turkcell to identify risk, Minotaur Fraud & Credit Risk Management solution is also helping to foster good customer relations and reduce customer churn through a variety of initiatives, including:

Automation of customer communication – first and subsequent SMS payment reminders, as well as scheduling follow up reminder telephone calls though the call centre.

Advanced warning of “Bill shock” – SMS alerts to subscribers who rack up abnormally high charges when accessing the Internet from their phone whilst roaming.

This is not the first time this project has been recognised; earlier this year Neural Technologies was presented with a IT Europa European IT Excellence Award in the category of ISV Enterprise Application.

Head of Fraud & Subscriber Risk Management Head for Turkcell, Erdim Burdu, said: “We are delighted that our project has once again been recognised by leading authorities in the industry. We plan to continue working with Neural Technologies, with Minotaur being an indispensable platform for the future, expanding and adapting to our company needs”.

The editor of Global Telecoms Business, Alan Burkitt-Gray, commented: “This is a sure sign the industry is working harder and harder to deliver exciting and innovative services to customers worldwide. We’ve seen a greater number of nominations for services directly aimed at businesses and consumers, designed to give them better services and make their lives easier.

“Congratulations to all of this year’s award winners and to Neural Technologies and Turkcell for the Minotaur Fraud & Credit Risk Management project.”

Click here to find out more about the Benefits of a Unified Fraud & Credit Risk Management Solution.

About Neural Technologies
Neural Technologies has established itself as a leading provider of risk management and business intelligence software solutions.

The company’s Minotaur suite empowers organisations to optimise revenue in the areas of fraud management, credit risk assessment, customer attrition/churn reduction, targeted marketing, collections optimisation, revenue assurance and anti-money laundering.

Neural Technologies has been ranked several times in the Sunday Times Tech Track 100 league table of the UK's top technology companies. It was named Large Technology Supplier of the Year 2008 by the British Computer Society and was awarded an IT Excellence Award in 2011. For more information visit: http://www.neuralt.com

About the Global Telecoms Business Awards
Global Telecoms Business magazine, which is read by the industry leaders in the telecommunications industry worldwide, is part of the Euromoney Institutional Investor PLC group. The magazine and the website carry interviews with CEOs, CTOs, CFOs and other industry leaders worldwide.

The GTB Innovation Awards are designed to honour innovative projects involving telecoms operators and service providers around the world working in association with their vendors and suppliers.

They recognise the most innovative projects in the telecommunications industry; projects that the judges feel make a real difference to the sector. The categories are:

  •     Fixed infrastructure innovation
  •     Wireless infrastructure innovation
  •     Wholesale service innovation
  •     Business service innovation
  •     Consumer service innovation

For more information: http://www.globaltelecomsbusiness.com/Stub/InnovationAwards2011.html

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