Beyond Prevention: AI in Fraud Management

Telecom operators are constantly locked in a relentless battle against fraudsters. Imagine this: A network operator wakes up to discover thousands of fraudulent transactions overnight, resulting in millions in losses. This isn’t just a hypothetical scenario – it’s a growing reality. According to the Communications Fraud Control Association (CFCA), the telecom industry suffered an estimated $38.95 billion in fraud-related losses in 2023, a staggering 12% increase from previous years. Traditional fraud detection systems, which react after an attack, are no longer enough. The urgency to shift from reactive to proactive fraud management has never been greater.

The Shift to Proactive Fraud Management

For years, telecom and enterprise networks have relied on rule-based fraud detection methods. To stay ahead, networks must transition from merely responding to fraud incidents to actively preventing them before they occur.

AI/ML-Driven Fraud Detection and Real-Time Threat Mitigation

The integration of AI and Machine Learning (ML) is revolutionizing fraud management. Unlike traditional methods, AI-powered systems analyze vast amounts of data in real-time, identifying patterns that indicate fraudulent activities.

Key capabilities include:
  • Intelligent Traffic Monitoring: AI continuously scans network traffic to detect unusual patterns and block suspicious activities in real time.
  • Adaptive Threat Detection: ML models evolve with emerging fraud tactics, identifying new attack vectors before they cause damage.
  • Automated Risk Scoring: AI assigns risk scores to transactions, enabling instant decision-making and reducing false positives.
The Future of Fraud Prevention in Telecom Networks

As fraud tactics evolve, so too must prevention strategies. Future trends in telecom fraud management include:

  • Blockchain for Secure Transactions: Ensuring data integrity and reducing the risk of tampering.
  • Advanced Threat Intelligence Sharing: Collaboration between telecom operators to stay ahead of emerging threats.
  • Hyperautomation in Fraud Detection: AI and ML working in tandem to automate fraud detection and response at scale.
  • Network API: Provides real-time access to network intelligence, enabling instant fraud detection, automated security enforcement, and seamless authentication.

In today’s digital landscape, merely detecting fraud isn’t enough. Safeguard your network, reputation and end-consumer by leveraging AI, behavioral analytics and real-time monitoring with our next-gen fraud management solution, Armour. The shift from reactive to proactive fraud management is not just a necessity—it’s the future of secure telecom operations.

Get in touch with our expert to know more.

AI vs. Fraud: The Next-Gen Battle for Security

Fraud is evolving, and so is the fight against it. With cybercriminals deploying increasingly sophisticated tactics, traditional fraud detection methods are no longer enough. AI is stepping in as a game changer, helping operators and enterprises safeguard their end-consumers with predictive analytics and real-time threat detection. The impact is evident—according to Market.us, the AI in Fraud Detection Market was valued at USD 12.1 billion in 2023 and is set to reach USD 108.3 billion by 2033.

The Rise of AI in Fraud Prevention

AI has become the backbone of modern fraud management, leveraging Machine Learning (ML) and Generative AI (GenAI) to analyze vast amounts of data, detect patterns, and predict potential threats. Unlike traditional rule-based systems, AI-driven fraud detection evolves continuously, identifying anomalies and stopping fraudulent activities before they cause damage.

AI-Powered Fraud Detection Techniques

AI employs multiple techniques to combat fraud effectively:

  • Behavioral Analysis: By monitoring user behavior, AI identifies deviations that may indicate fraudulent activity, such as unusual transaction patterns or login attempts.
  • Anomaly Detection: AI detects irregularities in real-time, flagging suspicious activities that deviate from normal usage trends.
  • Predictive Analytics: Using historical data, AI forecasts potential fraud attempts and enables proactive security measures.
  • Real-Time Threat Monitoring: AI-driven systems provide continuous monitoring, allowing instant responses to fraudulent activities and minimizing financial losses.
The Evolving Fraud Landscape

Fraudsters are adapting, employing AI themselves to bypass security measures. From deepfake scams to AI-generated phishing attacks, threats are becoming more sophisticated. However, AI also evolves in response, strengthening security through continuous learning and adaptation. GenAI is particularly impactful, as it helps security systems simulate potential fraud attempts and prepare countermeasures in advance.

Challenges and Ethical Concerns

While AI-powered fraud prevention is highly effective, it comes with its own set of challenges:

  • False Positives: Overzealous AI may flag legitimate transactions as fraudulent, leading to customer dissatisfaction.
  • Data Privacy: AI relies on vast datasets, raising concerns about user privacy and compliance with regulations like GDPR.
  • AI Bias: Improperly trained AI models may exhibit biases, potentially leading to unfair fraud assessments.
What’s Next? The Future of AI in Fraud Management

AI will continue to revolutionize fraud management with advanced deep learning models, blockchain integration for enhanced security, and AI-driven cybersecurity solutions. Tackle fraud head on with our AI-powered solution, Armour, and redefine security.

Get in touch with our experts to stay ahead in the evolving landscape.

Achieving High-Performance Security for Modern Enterprises

As cyber threats become more sophisticated, enterprises must implement robust security measures to protect their systems. However, many traditional security solutions often lead to network lag, slowing down operations and affecting overall performance. The solution lies in blending cutting-edge AI with advanced network infrastructure, enabling businesses to secure their systems in real-time without compromising on speed or performance. As per the latest report from GLF, 60% of carriers are using AI-driven systems to enhance fraud detection and prevention. In today’s fast-paced digital landscape, companies need security that not only protects but also enhances customer experience without hindering performance.

AI’s Role in Real-Time Protection
  • AI can analyze massive volumes of data instantly, identifying potential threats and vulnerabilities before they affect the network.
  • AI continuously learns and adapts, improving security measures with each new threat.
  • Automated, AI-driven solutions enable businesses to detect, prevent, and respond to cyber threats instantly—without human intervention or delays.
Seamless, Scalable Security
  • AI-based security measures can scale as the enterprise grows, protecting ever-expanding networks without degrading performance.
  • This allows businesses to stay secure, even when dealing with high volumes of data or heavy network traffic.
Advanced Threat Detection
  • AI systems provide continuous monitoring of network traffic, analyzing patterns and behaviors in real-time.
  • Suspicious activities or anomalies are flagged immediately, ensuring proactive threat mitigation.
Reduced Human Error
  • Automation through AI minimizes the risk of human error, offering a more reliable and effective security approach.
  • Reducing manual intervention also speeds up responses to potential threats, improving overall efficiency.
Real-Time Adaptability
  • Unlike traditional security systems, AI can dynamically adjust to emerging threats, making it more effective against new and evolving risks.
Achieving the Best of Both Worlds

In an increasingly connected world, businesses can’t afford to compromise on security or speed. AI-powered solutions are bridging this gap, offering enterprises the ability to protect their networks without sacrificing performance. By leveraging AI, organizations can not only enhance their security but also maintain the seamless connectivity that drives growth and innovation.

Ready for Secure, Fast, and Seamless Connectivity?

At Globe Teleservices, we specialize in AI-driven fraud management solutions that ensure your network stays bulletproof without compromising on speed or performance. Ready to enhance your security without slowing down? Get in touch with our team to learn more about our solutions tailored to your enterprise’s needs.

 

Customer Communication Trends in the Evolving Telecom Industry

The telecom industry is undergoing a significant transformation, driven by the need to place customers at the center of its strategies. With advancements in digital innovation, telecom companies are focusing on offering experiences with human-centric interactions. This evolution is reshaping the customer experience, providing new opportunities for businesses to enhance their services and grow.

The Importance of Customer Experience in Telecom

Customer experience is critical for all, be it enterprises or operators in the telecom industry, which faces high competition and customer volatility. Technological evolution means services quickly become obsolete, leading customers to switch brands frequently. Ensuring a superior customer experience is essential to retain customers and stay competitive.

Here are the latest customer communication trends and what they mean for your future communication strategies.

  1. Digital Channels: The Backbone of B2B Communication

Customers increasingly prefer digital channels for communication, seeking quick and accurate responses without waiting on hold. Businesses using digital channels, such as voice, SMS, and chat apps, are ahead in providing efficient customer service. Rich Communications Services (RCS) is enhancing business-to-consumer (B2C) communication strategies, leading to more engaging and conversational experiences. As per Juniper’s findings, the active RCS user base is anticipated to hit 1.1 billion by 2024.

  1. Personalization: The Key to Customer Loyalty

Personalizing customer experiences is a powerful strategy for building loyalty. Telecom companies are developing customized service offerings, utilizing customer data analytics for targeted communication and mapping customer journeys to identify personalization opportunities. Tailored offers, relevant updates, and personalized marketing messages demonstrate an understanding of unique customer needs, fostering loyalty.

  1. Next-Gen Technology: Enhancing Interactions

Incorporating advanced technologies can significantly improve customer interactions and satisfaction:

  • Advanced CRM Systems:

Manage customer data and interactions effectively.

Ensure a seamless experience across various digital channels, including websites, mobile apps, and social media.

  • Data Analytics:

Understand customer behaviors and preferences to tailor communications.

  1. A2P SMS: A Pillar for Effective Communication

Despite the rise of rich media channels, SMS remains crucial in communication strategies. The worldwide A2P SMS market is expected to grow at a CAGR of 3.9%, reaching USD 96.9 billion by 2032. Rich media messaging (MMS and RCS) allows businesses to send more engaging messages, while omnichannel messaging strategies and AI enhance the effectiveness of A2P messaging campaigns by personalizing messages, segmenting audiences, and anticipating customer behavior.

  1. Conversational Channels – The Key to Engaging Interactions

Adding the right digital channels to your communication mix is essential for delivering conversational customer experiences. Voice, SMS, and chat apps are top channels for B2C communication. RCS is paving the way for future strategies, meeting the rising demand for conversational experiences. This has become crucial for enterprises planning to develop their omnichannel strategies, creating hybrid digital-physical experiences.

Conclusion

To perfect your communication strategy, assess current strategies to identify gaps and fill them effectively. Automating AI chatbots and adding flexible channels, like WhatsApp, can improve customer engagement. A cloud contact center can manage conversations across various channels, ensuring access to conversation history and efficient responses.

Customer communication in the telecom industry is evolving rapidly, driven by digital innovation and the need for human-centric interactions. By focusing on digital channels, personalization, next-gen technology, A2P SMS, and conversational channels, telecom companies can enhance customer engagement and stay competitive.

Enable innovations with Globe Teleservices to ensure your customer engagement goes from good to great. Perfect your omnichannel communication strategy today with our next-gen telecom solutions.

The Growing Necessity of SMS Firewall Solutions in Business Communication

In today’s digital landscape, A2P SMS is a rapidly expanding sector, with countless companies leveraging it to enhance customer communication, marketing and authentication process. Amidst this growth, SMS firewall solutions have become essential components of business strategies, driven by the increasing number of market players, subscriber complaints and regulatory pressures. A managed SMS firewall offers a comprehensive approach to control SMS traffic cost-effectively, through fraud prevention to protect subscribers from threats.

The Critical Role of SMS Firewalls

The global SMS firewall market is projected to reach USD 3.0 billion by 2025, spurred by security concerns and the significant revenue share of international SMS traffic. With growing enterprise demand for fraud detection, the necessity of SMS firewalls has never been more apparent.

Enterprises aim to expand and retain their customer base, build trust, and foster loyalty. However, threats like SMS spoofing, spam, and smishing undermine trust, potentially causing brands to lose customers permanently.

According to Statista, approximately 36% of global users have experienced SMS scams. The importance of an SMS firewall solution is underscored by the proliferation of grey routes and the escalating threat of fraudsters exploiting SMS networks. Grey routes, which lack commercial agreements between senders and mobile operators, lead to revenue leakage and damage brand reputation.

Combating Security Challenges with SMS Firewalls

Managed SMS firewalls employ high-performance scanning techniques to combat threats, scrutinizing every message, originator, source, and route. Through rule-based filtering and clear traffic segregation, SMS firewalls help with fraud prevention, enabling long-term capital gains.

Some of the frauds faced by Mobile Network Operators (MNOs) and enterprises include:

  • Artificially Inflated Traffic: Bots generate one-time PIN requests to create undue costs and benefit fraudsters.
  • Flubot: Similar to a flu outbreak, Flubot spreads through fraudulent links leading users to malicious sites, infecting phones with malware.
  • Smishing: SMS phishing deceives consumers into revealing sensitive data.
  • Grey Routes: These routes bypass MNOs’ charging systems, resulting in revenue loss and leaving users vulnerable to privacy risks.
  • SMS Trashing: Unlike the other frauds, this type targets businesses and organizations, charging them for undelivered messages.
  • SIM Farms & SIM Boxes: This type of fraud utilizes a large number of SIM cards to send illegal messages.
Securing the Future of Enterprise Messaging

In the highly regulated A2P SMS sector, security has become a crucial differentiator for carriers aiming to protect their business communication, safeguard subscribers, and boost A2P revenues. Implementing a robust SMS firewall solution provides bulletproof defense against a wide range of attacks. Proactive measures, including machine learning, cloud-based deployment, fraud response frameworks, and comprehensive reporting mechanisms, are vital to combating fraud. This helps prevent revenue leakages, ultimately securing trust and enhancing experiences.

To safeguard your network and ensure innovative, secure customer communications, get in touch with us to deploy our next-gen AI-capable SMS firewall, Armour. Enable innovation #ei and keep your customers safe with our robust network security solutions.

For more information on our A2P firewall solution, read to know how we have helped Tigo Tanzania, part of the AXIAN telecom group, to tackle frauds in their network, leading to revenue losses.

 

The Future of Business Communication Why CPaaS is a Game Changer

As customer expectations continue to rise amidst increasing business costs, the quest for efficiency, and privacy challenges, companies face a crucial question: what do customers want right now? How can brands personalize, reach, and deliver communication that is interactive and engaging? Customers today demand fast, consistent, and personalized interactions every time they engage with a company. They seek exceptional products and services and show loyalty to brands that deliver. This makes it pivotal for enterprises to use Communication Platform-as-a-Service (CPaaS) to ensure seamless experiences.

What is CPaaS?

CPaaS, or Communications Platform as a Service, refers to cloud-based platforms that allow businesses to easily integrate real-time communication capabilities into their existing applications. This means you can add voice, A2P SMS, video, chatbots, email, and other functionalities into your business’s communication stack.

These platforms typically offer communication APIs, including:
Messaging APIs: For transactional and marketing messages, reminders, alerts, and two-way conversations.

  • Voice APIs: For seamless global voice calls.
  • Email APIs: To effortlessly send, receive, and track sent emails.
  • Verification APIs: For a more secure customer journey.
  • Video APIs: For top-notch in-app video experiences.

Additionally, CPaaS offers advanced features such as bots, live agent interactions, campaign management, and analytics.

The Digital Transformation with CPaaS

The future of customer engagement is digital. For many, this means turning to CPaaS to improve operational efficiencies and customer support. From conversational AI to various messaging platforms and social applications, CPaaS helps brands reach their customers through their preferred channels. This is crucial as contemporary consumers prefer real-time interactions tailored to their preferences and accessible through their chosen communication channels.

As per experts the CPaaS industry will surpass $34 billion in sales by 2026.Gartner also predicts that by 2025, 95% of global enterprises will use API-enabled CPaaS solutions to boost customer engagement.

How CPaaS is Transforming Businesses
  • Real-time Engagement: Engage with customers at the moment they need you, transforming interactions into opportunities.
  • Customized Communication: Leverage customer data to create relevant and personalized communications.
  • Efficiency and Precision: Conserve time and resources with streamlined processes.
  • Informed Decisions: Use collected customer data to make informed decisions.
Impact of CPaaS on Modern Business Communication

CPaaS is a versatile solution that embeds real-time communication channels directly into business applications using APIs, SDKs, and documentation. These capabilities include:

  • Messaging: SMS/MMS, toll-free, OTT channels (like WhatsApp and Messenger), and multi-party, multichannel conversations.
  • Voice Calling: VoIP, PSTN, and SIP trunking.
  • Video Calling: P2P, group rooms, and interactive livestreaming.
  • Email: Transactional and marketing emails.
  • Verification/Identity: One-time passcodes, strong customer authentication, and line-type lookup.

CPaaS bridges the gap between businesses and customers, facilitating interactions where and when they bring the most value to the customer experience. This omnichannel automation is beneficial serving industries such as healthcare, nonprofits, retail, real estate, travel and hospitality, education, insurance, and banking.

Agile, Meaningful Customer Communications

CPaaS has revolutionized the communications landscape, enabling brands to provide flawless, always-on customer interactions on their favorite channels. With best-of-breed solutions for messaging, voice, email, video, verification, and more, Globe Teleservices is poised to help businesses create a robust, scalable ecosystem for meaningful conversations.

Ready to learn more about how we enable innovation #ei through our CPaaS+ solution? Discover why Financial Times and Statista recognized us among the High-Growth Companies Asia-Pacific 2024. Dive into our platform and see how we can help manage and improve your customer engagement.

(link to the press release: https://globeteleservices.com/globe-teleservices-recognized-among-the-high-growth-companies.php)

 

The Rising African Digital Economy And The Role Of Telecom Players

For long, the African continent has not been included in the so-called growth engines that have been credited with driving progress. However, the tide has turned. Over the last few years, the region has finally found a true enabler of growth – digitalization. Africa is witnessing a rapid adoption of digital services in all areas. From banking to education, eCommerce, and entertainment, the number of digital-savvy users is growing.

Help, guidance, and resources have poured into African nations courtesy of several global organizations as well as developed economies in the slipstream of this digital awakening. The investments have gone mostly into enabling resources such as high-speed internet. Today nearly 36% of the African population has access to broadband internet. A decade ago, this was in single digits.

Let’s look at this movement more closely.

From laggards to leaders

While Africa was significantly late in appearing on the digital economy radar, that did not stop it from beating all odds to emerge as a leader today. This is especially true in some areas. Take, for example, digital payments. McKinsey estimates that the African e-payment market will grow by 150% between 2020 and 2025.

Countries like Nigeria, Kenya, and others are witnessing their digital transaction volumes doubling almost every year. Citizens are becoming more aware of the benefits of using digital payment mechanisms. A vast population that was outside the traditional banking systems is coming aboard now to enjoy extraordinary benefits.

This is an inspiring journey and can set precedents for other regions to follow. Most African nations are now focused on creating a welcoming environment for fintech innovations in their markets. These innovations are those that can break barriers to the adoption of new-age financial instruments by the masses.

The journey is not without challenges

While sectors like banking are showing promise, the African continent does have some very basic challenges. It is estimated that nearly 900 million people in Africa are still not connected to the internet. For those who have managed to hop onto the internet bandwagon, businesses are facing challenges in improving service experiences. From physical limitations created by irregular power supply to security threats in cyberspace, there’s quite a journey to endure before success.

The role of telecom in Africa’s digital maturity

We have already seen the number one problem that stands in the way of making Africa a competent force in the digital space is poor connectivity. More Africans need to become connected to the internet at affordable rates. Moreover, it is equally important for newer digital business services to penetrate deep into such untapped markets seamlessly and securely. In this context, telecom players can play a central role in bridging the gaps on the road to digital maturity in the African market.

They can bring the much-needed connectivity that will boost the online population figures. Additionally, telecom companies can transition into trusted enablers of digital services by providing a foundation for other businesses to build on top of. In other words, telecom operators have the opportunity of a lifetime to radically transform a region that is poised to be the next big international growth market.

How can telecom companies be the flag bearer of digital innovation in Africa?

Let us explore the top 3 ways in which telecom businesses can empower major changes and be a part of Africa’s most anticipated growth journey:

Create a new internet population faster

Telecom companies play a key role in helping more people get online on the continent. While faster internet services and phone networks are important areas, telecom operators must build a seamless customer acquisition strategy as well. A major hurdle in this strategy is getting people on board faster without complications. This is where telecom companies can leverage solutions like eKYC to minimize friction and get things done within the quickest timeframe possible.

Eliminate fraud

Telecom companies can ensure that they prevent fraudulent engagements in their networks. It can use platforms such as Armour to ensure that spam, fraudulent SMS created with SIM farming, IP-BX frauds, etc. are prevented from making any presence in the business.

Support digital business growth

Businesses must offer seamless digital services at scale to impress users and attract new customers. However, with the rise in digital consumption, there will be a major uptick in the number of cyber threats as well. We have seen rising instances of fraud and identity theft resulting in people losing money considerably. Telecom companies can truly help create a difference in this scenario.

By deploying tools like Authentrica, enterprises can use telecom networks as a major source of verifying the authenticity of users. From multi-channel authentication to Flash Calls, it becomes easier to identify and remove threats before they unleash damage. 2 major benefits could accrue here. They help in avoiding transactional vulnerabilities in the network. At the same time, they allow businesses to quickly on-board new customers with genuine credentials through real-time authentication.

The bottom line

Africa will be a land of opportunities for the digital community and a growth engine of the world in the coming years. Telecom players can be key catalysts of that revolution. They can help businesses of all kinds tap into this emerging market. In this journey, telecom players, need access to the right tech that can help in building an enabling ecosystem that can also be monetized. This is where our suite of offerings can help. Get in touch with us to know more about our Africa story.

Voice Managed Services – The Next Big Opportunity For MNOs?

Gone are the days when Mobile Network Operators (MNOs) relied on voice calls and SMS to generate revenue. The telecom industry has witnessed a dip in revenues from voice calls and SMS in the last few years.

Voice traffic decreased consistently after peaking in 2014. According to Tejas Sawant, the VP of Strategic Partnerships at Globe Teleservices, increased smartphone adoption is responsible for this plunge.

Besides the slowdown in voice traffic, MNOs are also facing other issues, such as:

  • Telecom fraud

The MNOs lose over $32 billion annually due to increasing telecom fraud, which has decreased customer trust.

  • Revenue leakage

International Revenue Sharing Fraud (IRSF) is another fraud leading to revenue leakage. In IRSF, the fraudster routes calls and messages to premium services or destinations with high termination charges. By exploiting the revenue-sharing agreement, the fraudsters receive a high revenue share causing telecom operators to lose money.

  • Cash flow management

Sometimes, MNOs face challenges in monitoring the credit limits or sending invoices and receiving payments on time. These problems impact the cash flow and pose difficulties in generating revenue.

  • Interconnect billing problems

Sometimes, MNOs face interconnect billing issues, such as inaccuracy in the settlement process, overcharged invoices, and operational inefficiencies. Since MNOs generate over 50% of revenue through interconnect agreements, these complexities often lead to cash flow problems.

There is also the fear of an increasing commoditization of basic services like voice, causing a lack of differentiation, customer loyalty, and poor profit margins. Problems like these lead to revenue loss, poor call quality, and disgruntled customers.

One way to solve these challenges is with Voice Managed Services.

What Is Voice Managed Services?

Managed services is a practice of outsourcing the responsibility of managing processes and functions of the MNOs. It helps them streamline operations, improve service quality, and reduce revenue loss.

A managed services provider oversees everything, from stopping revenue losses to preventing fraud and managing daily complexities like renewing roaming agreements. They do the day-to-day heavy lifting to free up the internal teams to focus on core business.

How Can MNOs Benefit from Voice Managed Services?

Here are a few benefits of collaborating with managed service providers:

1. Improve revenue assurance

Managed service providers streamline the billing cycle, invoicing, and payment processing. They monitor the existing credit limits and revenue streams to improve the revenue assurance processes. This helps MNOs establish and manage a steady cash flow.

2. Manage frauds

Managed service providers possess the tools and capabilities necessary to detect and prevent fraud. Here’s a sneak peek of what they can do:

  • They provide Artificial Intelligence (AI) and Machine Learning (ML) solutions to help MNOs detect fraud and spam efficiently.
  • They examine Call Detail Records (CDRs) to identify common patterns and anomalies, indicating potential fraud.
  • They monitor the network traffic using AI, help MNOs identify fraudulent activities and unauthorized traffic to protect the network.
  • They develop comprehensive fraud detection strategies that allow MNOs to take proactive measures and minimize their financial losses.

3. Increased focus on strategies

MNOs are often caught up in adhering to regulations, preventing fraud, and managing day-to-day operational complexities. It leaves them with little time to focus on growing their business. Managed service providers can address these concerns with their expertise and advanced technologies like AI-based fraud detection solutions. This allows the MNOs to focus on their core competencies, enable innovation, and find new revenue streams.

Challenges In Using Voice Managed Services And How To Overcome Them?

Although the MNOs benefit from managed services, there are a few hurdles to overcome.

For example, MNOs must sensitively tackle concerns like human resource displacement.

They must ensure the existing employees are looked after even as they collaborate with managed service providers for value-added services.

Additionally, managed service providers cannot follow a one-size-fits-all approach to building strategies. Every region follows its voice service regulations. For example, voice call services are highly regulated in Europe, while bypass activities are common in Africa.

Thus, they must consider these unique regulatory challenges while developing strategies.

To overcome such hurdles, managed service providers can consider developing modular service models for MNOs. These models are tailored to meet the specific needs and priorities of MNOs. For example, the MNOs can decide what part of business they want to prioritize while engaging with the service provider. This approach helps them better understand their partner and build trust over time.

Conclusion

Undoubtedly, managed service providers are a boon for MNOs looking for strategic partnerships with experts who manage operations.

They enable MNOs to focus on innovation by handling regulations and complex tasks and freeing up their time and resources. They streamline operations, enhance customer experience, and prevent revenue leakage.

It can help MNOs overcome troubles like decreasing demand for voice calls, increasing telecom fraud, and focusing on growing business.

There are challenges like region-specific regulatory issues and human resource displacement.

However, a modular approach and reskilling can help overcome these challenges and build sustainable relationships with providers.

At Globe Teleservices, we work with MNOs worldwide to improve their voice communications.

We leverage AI/ML-based technologies, direct interconnects, and high-quality international routes to manage client’s risks, enhance business, and prevent fraud.

Contact us to learn more about how you can grow your business in this hyper-competitive environment without worrying about complexities.

Anti-fraud Solutions in A2P SMS – Latest Trends, Threats, and Solutions

At the recent MWC Barcelona 2024, SMS fraud was a popular topic of discussion. In several panel discussions and other engaging sessions, expert speakers and industry pioneers delved into the security challenges of mobile communications. One enduring concern was the need for recalibration to end vulnerabilities in messaging systems.

So, what factors are behind this rise in sensitivity to SMS fraud?

In today’s business world, A2P SMS is an ever-growing trend. A2P SMS is leveraged by brands for sending marketing content, product notifications, alerts, reminders, and more. While this type of messaging is known to be far more reliable and effective than traditional emails, they are also becoming highly susceptible to fraud. From malware to phishing and spam, these threats have far-reaching impacts on mobile operators, including poor customer experience, plummeting revenue, and diminished brand value.

Read on as we delve into the common risks in A2P SMS and the various anti-fraud solutions you should adopt to steer clear of threats and attacks.

The Evolving A2P SMS Threat Landscape

Protecting business and customer data is a top priority for most modern companies. Yet, in a bid to drive better engagement and accelerate transactions, many organizations use A2P SMS to share important information. With benefits such as instant delivery, wide reach, and cost-effectiveness, A2P SMS acts as an extremely reliable and scalable communication channel. Analysts expect the global A2P SMS market to be worth $89.3 billion, driven by the rising proliferation of mobile phone users, mobile marketing, and e-commerce.

But as A2P SMS grows, messaging fraud is also on the rise. This communication channel is being seen as something of a soft target for attackers to launch several types of phishing and spoofing attacks.

  • Scammers use A2P SMS to lure victims to fake websites and reveal personal information such as passwords, PIN codes, bank account numbers, and more.
  • Via SS7 attacks, fraudsters can take advantage of vulnerabilities to perform malicious activities such as data theft, text interception, or location tracking.
  • They can manipulate sender information to make them look legitimate and deliver links to malicious websites.
  • Bad actors can infect A2P SMS’ with malware or viruses that can compromise the security of mobile devices and result in unauthorized access to sensitive information.
  • Fraudsters can also use A2P SMS to send unsolicited messages offering subscription services, tricking recipients into unknowingly subscribing to costly services.
Evaluating Popular Anti-fraud A2P SMS Solutions

As a business that relies heavily on A2P SMS, protecting yourself against threats requires you to implement certain security measures. Here are some anti-fraud solutions you can invest in to thwart A2P SMS attacks:

  •  Blockchain-based Data Encryption

In the realm of A2P SMS, Unsolicited Commercial Communication (UCC) is a major headache for most telecom operators. In addition to causing unnecessary frustration for users, it also increases the risk of malware, phishing attempts, and scams. Telecom operators can use blockchain-based regulatory technology platforms to register enterprise clients and telemarketers on a unified platform.

By offering access to the regulator, they can establish accountability for each event of A2P communication while blocking UCC across messaging networks. Via real-time consent management and scrubbing, these platforms can help in securely storing user, entities, and MNO data using DLT properties like immutability and encryption. Acting as a true ‘zero trust’ platform, blockchain technology can restrict stakeholders from changing any past data in any block and safeguard the business and its users against attacks.

  •  Analytics-driven Fraud Detection

As operators struggle to combat the risks of A2P messaging, analytics-driven fraud detection platforms can help identify and prevent fraud. By monitoring SMS data in real-time, these platforms can detect fraudulent activities and pave the way for effective threat detection and remediation.

Telecom regulators can view quality and fraud data over a single dashboard. They can collect raw telecom traffic data from telecom network operator systems and use proprietary AI/ML algorithms to spot patterns and network vulnerabilities.

  •  SMS Firewalls

SMS firewalls are a popular mechanism to protect mobile networks against SMS-based attacks. These firewalls help block fraudulent activities across all points of traffic origination. Employing AI/ML models, they can monitor real-time networks using signaling rules, detect anomalies in traffic patterns, and generate new rules for unidentified frauds.

Via real-time reporting, they can present a statistical view of all SMS transactions including incidents of fraud, and enable operators to allow/block/ignore traffic. Such real-time updates on global traffic patterns also enable the platform to generate its blacklisted content and sender types for an improved and safe user experience.

Enable Seamless and Secure Global Messaging with Globe Teleservices

The digital communication landscape is undergoing a significant transformation, with A2P SMS poised for unprecedented growth. As businesses look to exploit this mode of communication for customer engagement, they must also be aware of the many risks and invest in solutions to mitigate these risks.

Looking to securely employ A2P SMS to deliver instant messages to customers, widen reach, and boost engagement? Learn how Globe Teleservices can secure this communication channel, grow subscribers, and build brand loyalty. Explore our anti-fraud A2P SMS products and solutions for seamless and secure global messaging.

The Unseen Dynamics: Fintech and Telecom’s Subtle Integration

Technological advancements are accelerating innovation across the fintech industry. A collaboration between both the sectors is driving economic transformation by bridging the gap between digital connectivity and financial inclusion.

Collaboration between telcos and FinTechs in Africa is an inspiring example. Telcos not only provide calling services and mobile reception, but they are also revolutionizing the way this economy accesses and uses financial services. FinTechs, simultaneously,  are targeting the telco’s large customer base for greater synergy. The Digital payments market in the MENA region is estimated at USD 226.53 billion in 2024 and is expected to reach USD 380.86 billion by 2029.

The evolving role of telcos in bridging the digital divide

Telcos are becoming fintech providers. They are making finance accessible to the underserved by turning mobile phones into virtual wallets. Many telcos in the African region are now offering their own digital currencies and add-on services. Offerings like MTN Mobile Money, Vodacom M-Pesa, and EcoCash, offered by Econet are transforming how people manage their finances. These currencies are now being accepted by retailers, supermarkets, and even utility companies. Users can now conveniently send and receive money, access loans and savings, pay bills, etc. right from their mobile phones.

Millions of people who previously had limited options to access banking services are now gaining access to the same through the operators.

The rise of new business models

Telcos and FinTechs are re-visiting their business models to expand service offerings, diversify revenue streams, increase competitiveness, and influence competitiveness in this dynamic industry.

This positively impacted customer experience by allowing customers to make transactions, transfer funds, and manage financial services easily from their mobile phones. Apart from this, mobile banking allows customers to manage their bank accounts through calling, text messaging or WhatsApp for quick on-the-go status updates.

Lending and insurance services are other areas where both the industries have come together to provide easy access to traditional banking services for all. These leverage the robust data sets available with telcos and tap their access to real-time messaging channels to create intelligent and scalable ecosystems. This drives actions like credit rating and real-time analysis, through powerful monitoring and reporting.

Fintech providers who specialize in cross-border payments and telcos are also collaborating to facilitate international and domestic remittances through digital channels. In all of this, telcos are playing a prominent role in developing digital identity verification and Know Your Customer (KYC) processes.

Driving the future of FinTech

We have witnessed the rise of internet banking, mobile banking, and mobile payments and have seen them become an integral part of our lives. Mobile Network Operators (MNOs) are playing a pivotal role in securely facilitating payments from anywhere in the world.

This telecom infrastructure also plays a key role in enabling the security of banking data. Secure networks, reliable connectivity, and speed of telecom networks are crucial to expedite the future of the fintech revolution.

Telecoms are now making investments in network infrastructure, including 5G networks and edge computing, etc. to enhance data transmission speed, and enable fast deployment of fintech solutions.

Such partnerships are aiding the fintech sector in expanding the reach and capabilities of their solutions. Integration of technologies such as AI, cloud, and advanced analytics has further enhanced convenience for this tech-savvy generation. This collaboration is driven by the increasing demand for quick and seamless experiences, which are the determining factors for today’s young customers.

Telcos are powering fintech innovation by providing access to cloud services, resulting in sandbox environments for startups to test and refine their solutions. This enables them to provide secure and verified customer data to enterprises, facilitating credit scoring and KYC processes.

The vast pool of data has led to greater personalization of financial products, allowing rapid development, flexibility, and powerful access to endless possibilities. This is redefining digital finance and payment solutions.

Enabling regulatory compliance

Digital transactions have now got the endorsements of governments across the world as a secure means to conduct financial activities. These digital channels have helped both the sectors to make these transactions more secure, traceable and detect fraudulent transactions more easily.

However, as the landscape continues to evolve, telcos have become more agile in adapting to regulatory frameworks, causing new financial models to come into being.

Telecom and fintech companies are share a common objective – to enhance customer experience and broaden access to financial services. To achieve this, collaboration is key to tackling challenges including networking, regulatory hurdles, and mitigating fraud risks.

In Conclusion

Digital payments and transactions are now a part of our new normal.
Telcos are emerging as prominent enablers in the fintech realm, elevating customer relationships and financial products to new heights. Governments across GCC countries like Saudi Arabia, Kuwait, Qatar, and UAE  are offering strong regulatory support for fintech innovation-driven to build a globally integrated environment. The role of telecom in this cannot be ignored.

The telecom and FinTech sector creates a transformative impact on the economy by driving financial inclusion. The need for more secure, fast, and accessible payment systems keeps increasing as the world becomes increasingly interconnected and digitized. The convergence of these two sectors helps in driving innovation and growth in a digital economy.

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