Telco company blocks fraud, reduces friction for customers
As more consumers adopt a mobile-first outlook, telecommunication providers are stepping up to extend their portfolio of services. When one major telco launched its new mobile phone service, it offered handsets on contract and SIM-only deals, via both telesales and online. It wasn’t long before the company realized these new promotions made it vulnerable to a variety of fraudulent actions.
It looked to LexisNexis® Risk Solutions for help in addressing these risk areas while still ensuring a frictionless experience for good customers.
The company required a solution that would:
- Distinguish connecting customers from fraudsters in near real-time
- Block fraudsters signing up for new accounts using stolen identities
- Detect cybercriminals taking over user accounts to order new handsets or SIMs
- Stop fraudulent payments
- Identify fraudsters attempting to monetize stolen credit card credentials
- Understand the digital identity of connecting users
Digital identity intelligence from ThreatMetrix enabled the operator to gain an accurate picture of every user, capturing the unique attributes of how that user transacts online. This intelligence and the new holistic approach to detecting fraudulent behavior on both new and existing accounts helped the company to greatly reduce fraud and achieve ROI in just three months.
To learn more, read our case study, “LexisNexis® Risk Solutions Helps Detect and Block Fraud for Major Telco While Reducing Friction for Good Customers.”
