Subex helps Service Providers Combat Mobile Money Frauds
Leading global OSS/BSS provider helps Service Providers prevent and manage mobile money fraud using ROCTM Fraud Management solution
BANGALORE, INDIA – Subex Ltd, a leading global provider of operations and business support systems (OSS/BSS) for communications service providers, has been successfully helping prevent Mobile Money fraud for service providers globally. Subex’s industry leading ROC Fraud Management solution provides real-time fraud controls that help in combating emerging Mobile Money threats.
With declining Average Revenue Per User (ARPU) observed across the globe on Voice and Data services, it’s evident that Communication Service Providers need to venture out into new areas of service offerings. A Frost & Sullivan survey states that there are more than 3 billion mobile phones against 1 billion banking accounts in the World. This presents a great opportunity for Service Providers to add mobile money services into their portfolio, which can leverage the current mobile penetration in their markets.
With the increasing adoption of Mobile Money services, CSP’s risk being open to a growing number of different types of fraud. Some of the key fraud and security threats to Mobile Money Services include Theft of mobile money customer data, technical attack on Mobile Money Services, Internal fraud within Service Provider environment, Subscription fraud, Account hijack / takeover etc.
To combat this increasing threat of Mobile Money frauds, strict monitoring controls need to be applied to ensure a secure environment for Mobile Money services. Service providers must proactively monitor this ecosystem and prevent frauds to ensure increased customer satisfaction, protect margins, reduce losses and attain the competitive edge in this fast evolving environment.
ROC Fraud Management is Subex’s award-winning solution that helps wireless and wireline operators eliminate known frauds, uncover new fraud patterns, minimize fraud run time, augment internal controls and support continuous fraud management process improvement. Subex fraud management customers report rapid return on investment and increased productivity and efficiency by significantly reducing the complexity of the fraud investigation process.
Commenting on the opportunity, Mark Nicholson, CTO, Subex said, “Mobile money services presents an excellent opportunity for service providers to diversify their revenue streams, but it is essential that they put in place robust and real-time fraud and risk control systems to combat fraud both internally and externally. We are happy that we have partnered with several telcos across the globe to combat fraud in a mobile money environment, and have been successful in adding value to their business and help them build competitive advantage.”
Subex’s whitepaper – ‘Preventing Mobile Money Frauds’ is available on the company website: http://subexworld.com/fraud-management.html
About Subex Limited
Subex Limited is a leading global provider of Operations and Business Support Systems (OSS/BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimization and Service Agility – thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
The company pioneered the concept of a Revenue Operations Center (ROC™) – a centralized approach that sustains profitable growth and financial health through coordinated operational control. Subex’s product portfolio powers the ROC and its best-in-class solutions enable new service creation, operational transformation, subscriber-centric fulfillment, provisioning automation, data integrity management, revenue assurance, cost management, fraud management and interconnect / inter-party settlement. Subex also offers a scalable Managed Services program and has been the market leader in Business optimization for three consecutive years.
Subex’s customers include 16 of top 20 wireless operators worldwide* and 26 of the world’s 50 biggest# telecommunications service providers. The company has more than 300 installations across 70 countries. Subex has been awarded the Global Telecoms Business Innovation Award 2011 along with Swisscom for the industry’s first successful Risk Reward Share model for fraud management.
*RCR Wireless list, 2010
#Forbes’ Global 2000 list, 2010
For further information please contact:
Jessica Suranyi-Hammond at Milner LLP
Tel: +44 (0) 1473 636710
Mobile: +44 (0) 7541 989515