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Customer Experience Trends For 2024 – Telecom Edition

The role of customer experience in telecom is being radically transformed in the wake of increased digitization. As 5G networks, better infrastructure, and newer markets emerge, the telecom sector is at the cusp of a customer experience transformation. It’s also true that in many ways, the telecom industry has the potential to impact the way other sectors build their customer experience. In fact, recent studies show that nearly 76% of customers still prefer a telephone conversation with customer support. This statistic itself highlights the important role a telecom services provider has in the customer experience lifecycle across sectors. Clearly, knowing the market pulse is important for improving customer experience in telecom.

Communication is a key driver of customer experience. Hence, a telecom services provider must know what customers expect in every kind of interaction to deliver great experiences not just within their business, but also to support other sectors to offer the same to their customers.

Let us explore the top trends relating to customer experience in telecom for 2024:

1. Hassle-free onboarding

The digital economy is rising globally. People are shifting more of their common activities into digital mode. The changed behaviors that persist even after that pandemic is behind us have accelerated the trend as well. From banking to shopping, education, and entertainment, customers are demanding hassle-free digital experiences. This is not only a benchmark for any telecom services provider but also a key promise they need to enable for their enterprise customers.

They need to ensure that customers get a hassle-free no-nonsense onboarding experience into their network. Authenticating credentials shouldn’t be a problem. From auto parsing of OTPs to flash calls, there are a host of solutions that telecom providers must deploy to improve the onboarding experience.

Furthermore, they can also act as a gateway agent for other businesses to build similar experiences. For example, authenticating a user’s credentials via OTPs or flash calls can be a standard option for an OTT app or a social media app. Telecom players can be the bridge of trust serving both the customer and the business that wants to engage with them. With platforms like Authentrica, this can be easily achieved.

2. Learning about the customer

Most businesses believe that knowing the customers enables better service delivery. In 2024, businesses will need to deploy more innovative means to capture data from customers and learn from it. In the past surveys about customer experience were the de-facto medium for businesses to gain insights. However, studies say that a typical survey considers less than 7% of a business’s actual customer base for generating insights. The need to go beyond surveys is evident here. This is where a telecom services provider can make a difference.

Telecom providers can capture the preferences or consent of customers for all sorts of communications that happen over the network. That could be permissions for SMS campaigns, WhatsApp communications, emails, etc. It could be to create powerful Customer Data Platforms or first-party data gathered with customer consent. Telecom companies and their customers can leverage platforms like Consentica to manage user consent effectively. Using this information, they can help build better customer experiences based on ethically gathered customer data.

3. Protect personal data

Building trust is a key factor that influences customer experience. As we move deeper into the digital economy, customers are also becoming more aware of the threats that lurk out there. Many of these threats can be addressed if adequate protection is offered for sensitive data. Hence great customer experience demands a more strategic and focused approach towards integrating security features for personal data.

Telecom companies too must follow this trend. However, they have the additional opportunity to become a second layer of protection for customers. As explained earlier, telecom companies can build a layer of trust by collecting consent info from their customers. By building powerful encryption and network protection frameworks, they can ensure that personal data is never compromised by services running on networks. With tools like TxtChain, they can help trace telemarking activity with strict control on how user data is leveraged by 3rd party services. Firewall solutions can be deployed to ensure vulnerable entry points are discovered and neutralized before any incidents happen.

4. Preparing for an exciting journey

2024 will witness further expansion of the digital landscape in almost every sector. Telecom companies have the opportunity to not just improve the customer experience they provide but also drive industry standards across sectors. They can become the supporting framework for other sectors to push their customer experience initiatives forward at an accelerated pace. However, to do so telecom companies need to have the right technology required to build a powerful service economy on top of their network infrastructure. From security to monetization of assets through expansive partner services, telecom companies have a real potential to transform from their traditional roles. GTS is the perfect partner to ensure success on this path. Get in touch with us to know more.

The One “Platform” To Help You Transform Customer Experience

The one factor that distinguishes great companies from mediocre ones is personalization.

Great companies personalize experiences and go beyond transactional relationships to engage with customers and build long-lasting bonds with them.

So, what’s stopping other companies from delivering these elevated experiences?

According to Statista, 80% of companies acknowledge the impact of personalization on customer spending. 62% admit that it has improved loyalty and retention.

Yet, due to fragmented data from disparate sources, most companies are unable to customize.

It’s apparent that companies need a comprehensive view of their audience to understand their needs and tailor interactions.

However, the increasing touchpoints make it hard for them to gather, analyze, and act on the data.

That’s where the Customer Data Platform (CDP) comes to the rescue.

What Is A Customer Data Platform?

A Customer Data Platform (CDP) is a software solution that collects and organizes data from different sources to build a single customer profile. It collects the customer’s identity, lifestyle, as well as behavioral and aspirational data from sources like CRM, social media, websites, and PoS systems. This detailed data enables companies to create comprehensive customer profiles, individualize experiences, predict trends, and accelerate decision-making. It’s called a platform because it serves as a unifying frame for the entire range of applications and solutions that need to access customer data to drive action.

Why Use CDPs?

A CDP can deliver multiple benefits:

Unifies data

CDPs use SDKs and APIs to pull data from disparate sources into a single platform. It creates a customer profile containing Personable Identifiable Information (PII) such as the customer’s name, address, email ID, etc. The unified customer profile can be used by marketing, sales, product management, and customer support teams to improve customer experience.

Improves personalization

Besides PII, CDPs also capture extra insights like browsing history, website visits, and social media activity. This valuable information enables the sales and marketing teams to understand preferences and buying patterns. It empowers them to customize product recommendations and create targeted marketing campaigns to increase engagement. More importantly, the support team can leverage this data to tailor customer interactions. A cohesive, hyper-personalized approach can help companies boost customer retention, repeat purchases, and reduce churn.

Makes compliance easier

Companies must adhere to regulations like the General Data Protection Regulation (GDPR) to build customer trust and avoid legal hassles. The centralized platforms of CDPs can help companies collect and manage all the data in a single location. It will also protect the PII details and audit them regularly. By storing all information in one place, a company can easily grant access to customers to view it upon request. This will help companies improve transparency, protect customers’ privacy, and maintain compliance.

Supports data-driven decision-making

In a fast-paced business landscape, companies have to make quick business decisions. For that, they need access to real-time data. CDPs can gather real-time information from different sources and provide timely insights on customer behavior and market demands. Such rich information can help decision-makers forecast trends and behaviors accurately and devise strategies to meet them. CDPs are truly useful in improving decision-making and aiding innovation. It enables companies to accelerate go-to-market strategy and gain a competitive advantage.

How Telecom Operators Can Benefit From CDPs

A telecom operator receives customer first-party data, including PII details, customer usage patterns, travel habits, device preferences, and billing information.

If used correctly, all this information can help improve personalization.

According to McKinsey, telecom operators can boost revenue by 10% and customer engagement by 20-30% through data-driven personalization.

However, only 5% of them are harnessing data to personalize experiences.

That’s why CDPs are so vital for telecom operators. They can gather data about the customer into a unified platform and use it for the following purposes:

Personalize subscription plans and offers

Telecom operators can use CDPs to analyze usage patterns and recommend relevant subscription plans. For example, they can suggest unique roaming plans for frequent travelers or internet plans for remote professionals. This will help them deviate from the usual one-size-fits-all offerings and improve retention.

Upsell and cross-sell plans

CDPs offer a complete view of usage patterns, allowing operators to cross-sell or upsell relevant packages. For instance, they recommend location-specific data and voice call plans to frequent travelers and higher data plans to streaming users. This helps operators increase sales and drive revenue.

Reduce churn and retain customers

With the help of CDPs, operators can categorize users based on their activity and engagement levels and launch targeted campaigns. For instance, they can send renewal notifications to expiring subscriptions and display attractive data and voice packages to new customers. These individualized campaigns can reduce churn and increase retention.

Improve compliance

There’s a thin line between personalization and privacy violation. Telecom operators should be careful not to cross that fine line. A data breach or privacy violation could lead to irreparable damages to the operator’s reputation and revenue loss. CDPs can help operators adhere to compliance rules like GDPR. By breaking down silos, it unifies information, improving transparency and efficiency in data management. It can help operators establish data governance standards, improve access control, and track suspicious activities. It acts as a single source of truth and provides more visibility on how data is stored, accessed, and handled. It makes monitoring and tracking efficient.

How Can Telecom Operators Enable Innovation With CDPs?

The telecom industry is evolving rapidly, making it increasingly complex for operators to differentiate themselves. It has become even more challenging for them, with the Millennials and Gen Z becoming the primary user base. They expect individualized experiences from their telecom operators.

Thus, companies need to devise unique initiatives to engage with them. For example, they could offer micro-finance for device purchases or do something as simple as streamlining the digital onboarding process.

CDPs help operators enable innovation #ei, offering valuable insights into customer behavior.

It’s an excellent technology to retain your users, earn more revenue, and grow.

To know more about how CDPs and other technologies can benefit your business, contact us.

Top 5 Ways in Which Modern Telecom Solutions Change Lives

Conversations around the evolution of telecommunications, wireless networks, internet services and more, usually revolve around communications and business applications. While the power of telecommunication has indelibly changed that space, it has also transformed other aspects with a far deeper and life-changing impact.

This blog explores how modern telecom solutions are changing lives.

Fostering socio-economic development

Modern telecom solutions have been instrumental in connecting individuals across urban and rural, and rich and poor segments. These solutions have delivered access to information, markets, and services, where its impact can be felt most significantly by the underserved sections of the society.

Telecommunication solutions have also influenced digital inclusion and equality by giving people from all walks of life access to essential digital technology. This has been instrumental in reducing socio-economic inequalities and fostering inclusive economic growth. Mobile phones have represented the first telecom infrastructure in many places and are proving crucial in driving connectivity.

It is through these solutions that people in the underserved areas delivered tangible economic benefits and improved access to information.

These solutions also create employment opportunities and influence economic outcomes. The mobile industry in the Sub-Saharan region, for example, has created approximately 2 million jobs for people directly and created employment for another 1.8 million people in the wider ecosystem in 2019.

Financial inclusion driven by digital payments and mobile money

The rise of digital payments and mobile money can be credited to the maturing of telecommunication networks and infrastructure. This growth has been further fueled by the expanding number of telecom solution providers, and pursuant innovation in this space.

Financial inclusion prompted by mobile money and digital payments has been a game changer for people. This is felt especially in areas where traditional banking services are inaccessible. Almost half of the world’s mobile money accounts come from the underserved Sub-Saharan region. This region also has more mobile money accounts than bank accounts.

The rise of digital payments and mobile wallets have driven financial inclusion in underserved areas and have made payments faster, simpler, and safer across the world. Innovations in the form of e-KYC have further driven financial inclusion by allowing those operating in this sector to acquire reliable and clear documentation.

Enable Small Business to Make a Big Impact

Modern telecom solutions are the cornerstone of the digital economy. Telecom solutions have helped small businesses remain agile, flexible, and responsive to constant change and market disruptions. These solutions have been instrumental in driving e-commerce and have helped many small entrepreneurs start small businesses from their homes.

These solutions improve connectivity and accessibility, allowing small businesses to expand their customer footprint. They also help them manage their customers, partners, distributors, and supplier ecosystem irrespective of their location.

Robust telecom solutions and internet services are driving cost savings and cutting travel expenses. They are delivering access to talent from low-cost geographies for small businesses using teleconferencing and remote work.

Effective telecom data management and real-time analysis provide valuable insights into markets, customers, and operations of a small business. SMS and social media messaging provide opportunities to engage personally with customers and improve customer experiences.

Telecom solutions have become instrumental in protecting revenues by ensuring greater security from grey routes and challenges like data theft, SIM phishing, and other threat actors.

Effective telecom solutions are helping small businesses enhance operations, creating opportunities to improve customer service, increasing efficiencies, and driving their growth and success.

Revolutionizing Healthcare Access and Delivery

Modern telecom solutions have been instrumental in making healthcare services more accessible and cost-effective, across rural and underserved areas. These segments of societies across different geographies can access medical services and healthcare professionals irrespective of geographical barriers.

Telemedicine, mHealth, remote health monitoring, etc. have enabled people to access quality healthcare, especially in places where it has been limited traditionally. The integration of telecom tech solutions in the healthcare ecosystem has improved medical diagnostics, enabled real-time collaboration amongst physicians and healthcare professionals, and enabled remote patient monitoring to improve healthcare delivery and outcomes.

Telecom solutions have been instrumental in enabling preventive medicine too. These have allowed healthcare professionals to provide personalized care plans and make timely data-driven adjustments. According to a study from the National Library of Medicine, telemedicine is as effective as in‐person visits for reducing 30‐day readmissions in patients with heart failure.

Improve education access

Mobile phones and the internet have been a key driving force in improving access to education and changing the lives of people. Telecom solutions in the education space are bringing classrooms online and improving knowledge access. They are creating pipelines to help learners draw distant information, interact with experts, and engage with students worldwide.

Telecom solutions have ensured that students in underserved areas can access quality information that would otherwise be hard to acquire. These have been instrumental in improving inquiry-based and analytical skills and creating greater access to education.

Wireless connectivity allows learners to access educational content from anywhere and collaborate with their peers and teachers. It democratizes education by increasing learning opportunities and allowing economies to build educated workforces.

Modern telecom solutions have been instrumental in reshaping the world that we live in and have been creating more equity for those in poor, rural, and underserved areas. And technology plays a key role in helping telcos deliver the services that change lives.

For instance, telecom solution providers need to exert caution to prevent incidents like grey routes and ensure greater security of their networks. Small businesses demand greater assurance, low latency, and cost-effectiveness in international voice and messaging services. Telecom solutions providers and CSPs deliver origin-based routing services for dynamic routing, as well as anti-fraud voice solutions for the best and most secure business communications. Real-time call monitoring and anti-fraud checks also become essential to drive seamless connectivity and secure networks for safer, smarter, and faster communications.

Telecom solutions are essential to spearhead the advancement of emerging economies worldwide. They improve communication access across the underserved sections of society and create opportunities. Underserved regions like Africa are now connected to the rest of the world more than ever before thanks to proliferating telecom networks. Today, telecom solutions have been instrumental in promoting health, education, agriculture, entertainment, business and tourism.

Also, more than 300+ hubs have emerged in the African tech startup ecosystem because of the telecom sector. These are creating more opportunities for economic advancement and social upliftment.

Changing the world isn’t easy but someone has to do it. As we can see, telecom services companies are trying to do just that, with a little help from technology!

The Evolution of Firewall: From Legacy Systems to Next-Gen Security

In an industry that prides itself on keeping the world connected digitally, the telecom sector is no stranger to security threats. With the highest number of global DDoS attacks, it has long relied on firewalls as a primary threat aversion mechanism.

Legacy firewalls have been a mainstay for a while

By filtering out suspicious traffic or rogue elements from within their global network through predefined rules, firewalls have safeguarded the telecom sector from several threats. 5G rollout is underway on a big scale globally. As the world prepares for a new dimension of digital complexity, traditional firewalls may not do the job for telecom players anymore.

The challenges of legacy firewalls

They are incapable of supporting modern network complexities. They could also fall short of being able to handle newer operating nuances like cross-protocol integration, security node-based signaling in the place of core network nodes, etc.

However, an even bigger threat lies in the inability of legacy firewalls to counter new-age cyber threats.

The digital world which is growing exponentially is also now one of the major avenues of fraudulent activities and exploitation. From the theft of sensitive customer data to impersonation or identity fraud, the breadth of the threat landscape is immense.

Cybercriminals are even deploying artificial intelligence-driven agents into the digital space to break safeguards and penetrate deeper into enterprise networks. Very often, the entry point they choose to attack is the gateway used by an enterprise to connect with the internet. Suspicious links embedded in SMS text messages can go past legacy firewalls and easily put users at risk.

That’s why traditional firewalls deployed by telecom operators must be equipped with the intelligence or knowledge needed to combat such threat agents.

The shift to new generation firewalls – Why now?

The need to strategically move into the next generation of firewall capabilities is critical given the industry’s role as a key pillar of digital transformation in all sectors. Additionally, here are some of the top reasons why telecom operators must embrace the next generation of firewall technologies to stay competitive:

Rise of cloud

Today, cloud services are used by almost every business irrespective of its size or domain. With the cloud, user authentication becomes a major step of the usage journey. Most businesses rely on traditional methods like SMS-based OTP authentication or call-based authentication to help end-users avail cloud services. However, legacy firewall technologies cannot distinguish between genuine authentication prompts sent by the business and fraudulent signals ingested into the network by criminals.

New age threats

Telecom fraud is a major threat that needs attention. Studies point out that in 2023, telecom fraud has risen by as much as 12%. This translates to billions of dollars in lost revenue.

Similar to SMS frauds, and authentication fraud via missed calls mentioned before, there are a number of diverse network-focused threats in play today. Through fraudulent routing, fraudsters may bypass legacy firewall protection and reach end users with communication scripted as a genuine business message. Other means like bulk malicious SMS traffic may cause legacy firewalls to be jammed and entry into the network automatically provisioned to prevent further congestion. Such threats pose significant risks to telecom operators, compromising network security and yielding negative outcomes.

Growth of IoT

With 5G technology taking off at scale, businesses will look forward to mobilizing their resources around promising technologies like the Internet of Things (IoT). Worldwide spending on IoT is expected to surpass the USD 1 Trillion mark by 2026.

A lot of machine integrations will happen in services traditionally offered by businesses. For example, scenarios like a smart fridge placing replenishment orders to the nearest grocery retailer or an e-commerce service autonomously can become a normal thing soon. There is a catch here. With machine communication over the internet becoming mainstream, it is extremely important to authenticate credentials of control data. Control data could be transmitted in the form of messages, calls, etc. Traditional legacy firewalls are not capable of handling such advanced authentication processes.

The promise of new-generation firewalls

As telecom companies gear up to spearhead digital innovation, they can certainly leverage highly intelligent firewalls like the GTS Armour firewall to guard their progress at all times. Such new-generation firewalls come with a host of features that are much needed in the emerging security and evolving landscape of telecom usage.

One of the striking benefits that telecom companies can leverage from modern firewall solutions is the use of artificial intelligence and machine learning in firewall operations. From threat discovery to neutralization, AI-powered continuous analysis of network traffic by modern firewalls holds great promise. They equip telecom players with the much-needed confidence to partner with other businesses for their digital ambitions.

Platforms like the GTS Armour offer protection against high-end security threats like identity fraud. There is a combination of techniques that firewalls use. Some include robo-calling, interconnect fraud prevention guards, virtual machine fraud detection, etc. Such firewall solutions offer peace of mind for telecom players as they seek to expand their business partnership ecosystem. Through powerful contextual analysis such AI-powered firewall solutions can easily identify and block fraudulent or suspicious text messages way before they are delivered to end users.

Telecom companies are perceived as a foundational element of modern digital experiences. Securing their operations is of primal importance for telecom businesses. Investing in state-of-the-art firewall solutions like Armour helps telecom companies improve their trust credentials in the market with proven security. Get in touch with us to learn more about revamping firewall security in your telecom business with the GTS Armour firewall.

Top Five Frauds The Telecom Industry Has To Deal With – 2023 Edition

The telecom industry is innovating rapidly.

PWC reports that over 200 telecom companies had already launched 5G networks by the beginning of 2023. It further predicted that 50% of global telecom connections would be 5G by 2025. It is further expected to increase to 75% by 2027.

This year, the telecom industry has also ramped up the focus on AI and IoT and increased attention paid to cybersecurity.

While the constant focus is on improving connectivity and security, the telecom industry is also witnessing an increase in telecom fraud.

Telecoms are losing billions to frauds like Robocalls and SIM Box, impacting profits and customer trust.

Let’s look at these frauds that have kept the industry on edge and find out how they can tackle them.

Top Five Frauds That Telecom Industry Is Dealing With In 2023

Vishing scams

Vishing scams rose by 550% in 2022.

In vishing attacks, scammers use AI to clone voices to sound trustworthy. They use call ID spoofing to make the call look reliable. They call and impersonate a government agency representative or a relative and deceive the users into sharing personal details like credit cards and social security numbers. The scammers specifically target the elderly population as they are the most vulnerable group. According to the Cybercrime Support Network, 38% of the reports submitted to the FTC were by users aged 80+.

While users are expected to exercise while receiving voice calls, telecom companies must invest in technologies to prevent it. Technologies like Artificial Intelligence and Machine Learning (AI/ML) can help companies detect and prevent fraudulent activities in voice calls.

Impersonating SMS Frauds

Like impersonating calls, people are also falling prey to SMS impersonation. This is especially a concerning scam in the banking industry. According to a 2019 report, there has been a twentyfold increase in text fraud in the coming years, and the trends seem to bear that out. Here’s how it typically works. A user receives a text with a link from a fake bank number. When they click on the link, they receive a call from the alleged bank.

The caller asks for sensitive information. The user eventually loses money if they share sensitive information with the caller. SMS fraud through impersonation has led to a median loss of $3,000 last year.

The Federal Communications Commission (FCC) has directed mobile operators to block robotexts and prevent scams. Mobile operators can use AI/ML or blockchain solutions to reduce fraud and safeguard customers from losing money.

SIM Box Frauds

In SIM Box Fraud, a SIM Box device routes international calls as local calls. This helps the fraudsters avoid paying the higher international call rates and earn profits. Since the calls get routed, telecom companies lose revenue from the international calls. Additionally, the routing leads to unprecedented traffic on mobile networks and poor customer service quality.

Telecom companies can solve this problem by monitoring network traffic for unusual activities and blocking or filtering calls that display patterns that are different from the usual. Companies must also develop new solutions that can help them detect and prevent fraud. They must also cooperate with law enforcement agencies and share regular information to thwart all routing fraud attempts.

International Revenue Share Fraud (IRSF)

IRSF fraud has been a threat for many years. However, reports suggest that it has significantly increased in the past decade. These scams involve scammers pumping traffic to premium-rate international numbers. It affects the revenue-sharing agreements and the bottom line of telecom operators globally.

Telecoms can use firewall solutions to identify and prevent fraud from local and international markets.

SMS Grey Routes

Like artificially inflated calls, scammers are also using grey or unauthorized routes to bypass internationally approved routes and deliver SMS to users. They avoid paying the termination fees to mobile network operators (MNOs), resulting in unnecessary losses.

Operators can combat this issue by implementing solutions like:

Monitoring traffic to identify and prevent grey route activities
Implementing SMS firewalls to block messages originating from grey routes
Collaborating with other MNOs to blacklist potential grey routes and take action against malicious actors

These combined efforts can help operators reduce losses and safeguard their integrity.

How Can the Telecom Industry Combat Frauds?

As frauds increase, 92% of carriers have started prioritizing them to protect customers and safeguard their reputations.

Some telecom companies have started using blockchain for subscriber authentication, detecting roaming fraud, and blocking stolen devices. A few others are using flash calls as a part of two-factor authentication to reduce dependency on One-time Passwords (OTP).

Technologies like AI/ML are helping telecom companies detect and prevent fraud in real-time.

As frauds become more sophisticated, telecom companies must replace reactive and traditional fraud detection systems with proactive ones.

They must invest in anti-fraud solutions that cover various aspects of telecom fraud.

At Globe Teleservices, we have built solutions that help enterprises and telecom operators prevent voice, SMS, and network traffic frauds, allowing them to preserve revenues and maintain customer experience.

To know more about these solutions that can help telecom companies prevent fraud, contact us.

How Can Telecom Companies Explore New Frontiers With Blockchain

The telecom industry is widely regarded as one of the key enablers of today’s digital economy. From connecting people to empowering consumer applications through a host of services, the industry plays a vital role in streamlining digital experiences. In fact, several businesses actively consider the health of telecom networks in different regions before prioritizing their digital service spending for that region.

However, the sector is not immune to challenges. Today more businesses and consumers are relying on the telecom sector to build the foundations of new digital experiences. Hence, it is imperative for industry leaders to find innovative and quick solutions for pressing concerns. The pain areas that need attention are fraud, network availability and performance, service experience, and cost efficiency.

As with any other sector, the telecom industry has increased its bets on emerging technology solutions like blockchain to eliminate these challenges and spearhead innovation. The ability of blockchain to hold data without being tampered provides immense opportunities for the telecom sector. From automation of billing to traceability of transactions, the potential outcomes are too good for major telecom players to ignore.

The emergence of blockchain

One of the most promising trends in this regard is the rising popularity of blockchain and its uses in telecom. Studies estimate that the market for blockchain in the telecom sector will surpass USD 14.8 billion by 2030.

Let us explore the top areas where blockchain technology promises to become a huge asset for telecom companies:

Data Security

It is estimated that nearly 9.7 million petabytes of data will be consumed over telecom networks globally by 2027. With so much traffic flowing through their infrastructure, telecom players need more strategic and fault-proof security measures to prevent risks from manifesting in the operations.

Blockchain can be a major influence in this area. Using blockchain’s inherent strengths in encryption and decentralized data management, telecom networks can build autonomous data-sharing funnels to enable secure data transmission. Our very own TxtChain platform utilizes the immutability and decentralization capabilities of blockchain to secure data. Data from users, MNOs, and other entities cannot be tampered in any way without leaving a trace.

Prevent Identity Fraud

Studies have found that in 2021, the telecom sector lost USD 6.69 billion due to fraud. Fraud hurts the revenues of telecom companies by opening up unauthorized routes and parallel networks that “steal” traffic. These fraudulent practices and hackers operating in the telecom space also often trick innocent victims and gain access to their secure credentials like a business phone number. In other cases, subscription services to apps linked to their phone numbers may also be hacked.

The underlying root cause here is the ability of hackers to manipulate identities illegally. With blockchain, telecom companies can arrest the use of synthetic identities that were created with falsified credentials. Ownership of mobile numbers can be easily established when telecom providers leverage a tamper-proof decentralized ledger for storing user details corresponding to each number allotted in their spectrum. This is exactly what our TxtChain platform does by ensuring that mission-critical data is stored in immutable distributed blockchain ledgers.

By using a decentralized verification process, it becomes easier for consumers to protect their credentials. It can further streamline user authentication across a range of services that are dependent on a customer’s identity linked to their mobile number. This also enhances the onboarding and user authentication process by providing a more modern and seamless experience.

Device Identity Verification

We have seen how the identities of customers linked to their mobile numbers can be a source of vulnerability for hackers to exploit. Today, even devices used by customers are potential targets. And we are not just talking about mobile phones. From televisions to refrigerators and even curtain blinds, the number of devices connecting to the internet via telecom networks is exponentially higher than used to be the case.

Blockchain is a tool that telecom operators can use to bring an additional layer of security and transparency to device management. By storing authentication insights and credentials on the blockchain, it is easier to prevent forced attacks on the network without proper authentication by the actual device user. Also, usage patterns can be autonomously analyzed to see if credentials have been tampered with as all authentication happens via blockchain. As we move into the realms of 5G connectivity, such device management capabilities will help telecom players fuel the growth of IoT-enabled devices.

Stakeholder Registration and Consent Management

One of the most painstaking tasks telecom players must face is maintaining transparency in committed plans for customers. Depending on usage patterns, different customers may subscribe to various data or call plans and packages. However, complaints about plan misfits or erroneous billing are common from customers. Additionally, there are avenues where customers are often bombarded with commercial messages. These could be from services that they have not given their consent to contact. This is a serious issue as it impacts the trust and credibility of the provider.

With blockchain, it is easy to set up smart contracts that capture the right set of user preferences. Be it data privileges, call benefits, consent to promotional or commercial messages, usage terms, or roaming charges, every aspect of a user plan can be captured and recorded in a smart contract. It can be used for autonomously executing the billing and invoicing workflow of a customer. Unwanted commercial messages can be filtered out easily. Solution like our TxtChain collects consent info from customers and stores it on the blockchain. In the event of a commercial message being readied to be broadcasted, the system checks for each users consent preferences before shooting it out. It minimizes disputes and prevents tampering with plans and terms agreed upon with customers initially.

Summing It Up

Our CMD Ashutosh believes that if there are ways to minimize fraud and revenue leakages in the telecom sector with blockchain, then there is nothing stopping its adoption in the industry.

It will help telecom companies secure their networks, curtail malicious actions, and prevent leakages onto unauthorized networks. That could be a boon for fraud detection and prevention as well.

Combining this with the other benefits we have mentioned above shows blockchain’s position as a technology with immense potential in the telecom sector. Telecom companies need to have the right strategic approach in implementing blockchain solutions to maximize the impact. That includes planning for a resilient and reliable roadmap and execution strategy along with the right choice of skilled professionals, tools, and platforms like TxtChain. This is where a partner like GTS can make a huge impact. Get in touch with us to explore more.

The Complexities of an Omnichannel Consumer Experience

Customers remain loyal to brands that can deliver a consistent and personalized omnichannel experience. In fact, a 2021 report outlined that 59% of consumers would prefer communicating with a brand that facilitated seamless communication across channels. However, delivering such an experience is easier said than done for enterprises. A host of challenges hinder this delivery. Let’s profoundly discuss those and understand how they can be addressed.

The Challenge of Delivering an Excellent Omnichannel Experience

Back in 2017, the Harvard Business Review published a famous study of 46,000 shoppers. The study outlined how 73% of the shoppers leveraged multiple channels throughout their shopping journey. These shoppers were labeled as “omnichannel customers.”

Today, an omnichannel customer experience for enterprises is about seamlessly accommodating the customer journey across various channels. Each touchpoint effectively promises a point of sale.

At its core, an omnichannel strategy enables brands to get a 360-degree view of their customers and focus on resolving their problems and queries.

However, in the competitive telecom market, it’s becoming difficult for service providers to meet customer expectations. Here’s a rundown of the main challenges they face when dealing with omnichannel consumers:

Channel Integration

Channel integration in the context of an omnichannel engagement approach is fairly complex. Enterprises need to integrate all the communication channels and the systems accommodating them. For instance, they must integrate the website chatbot with the product recommendation system. But this is easier said than done because enterprises often find it difficult to:

Remove and replace legacy systems that haven’t been designed with omnichannel capabilities in mind.
Reduce data silos cropping up due to inter-departmental and software system fragmentation.
Bring technical resources onboard that can help design, implement, and improve technological framework supporting omnichannel engagement.
Manage the security concerns associated with the exchange of sensitive customer data between channels and enterprise systems.

What enterprises need is an API-first approach, a unified communications platform, cross-channel analytics, etc. These can help create synergy between channels for efficient customer experience management. Notably, implementation of such solutions requires thorough assessment of vendors.

Customer Self-Servicing

Along with an omnichannel experience, consumers expect self-service options. While businesses realize the need to set up a framework to accommodate self-service, they still fall short of expectations. As per McKinsey’s 2022 survey, around 77% of respondents had built digital care platforms. However, only 10% of those platforms were scalable and fully adopted by customers. In fact, only 20% of the platforms were highly integrated.

Without a concrete technology framework, most telecom providers would struggle to provide self-servicing options to consumers. Of course, AI-powered customer communication solutions can help address this problem. But for their implementation as well, brands need a well-thought-out strategy.

Customer Expectations

The telecom industry still suffers from a high customer churn rate, owing to customers repeatedly switching operators. This increases costs on the acquisition end and a loss of referrals. That’s never a good sight.

Providing excellent service to omnichannel consumers is challenging in the absence of a robust technological framework. With immense competition in the space, it’s essential that businesses:

Constantly monitor satisfaction scores using KPIs relevant to specific engagement channels.
Invest in modern infrastructure, software solutions, and skilled personnel.
Aim towards getting a unified view of customers to personalize services and resolve issues before they escalate.
Communicate honestly about service disruptions, pricing changes, and other critical matters directly linked with customer engagement.

How CPaaS Is the Best Solution for Omnichannel-Related Challenges

Telecom companies need a more coherent approach to implementing an omnichannel strategy. As consumers expect an omnichannel experience, telecom companies are best served by adopting cloud technologies like Communications Platform-as-a-Service (or CPaaS). With CPaaS, they can leverage the benefits of a real-time communication platform. This platform can help realize improved customer experience, cost reduction, and more profound customer engagement.

Here are some of the CPaaS features that make it the best solution to address omnichannel-related challenges in the telecom sector:

Seamless Integration

With CPaaS, companies can easily integrate customer communication with existing third-party applications or services like CRM. With an integrated CRM system, they can improve customer service, improve lead management, and track customer conversions.

Customizable Solution

CPaaS platforms are easy to customize according to the business needs. With customizable APIs and SDKs, developers can integrate call functionalities into their applications. They can do this by using core programming or low-code development tools.

Artificial Intelligence (AI)

CPaaS platforms (powered by AI) can deliver high-quality communication while minimizing network latency. Besides, AI-related capabilities like facial recognition, text-to-speech conversion, and analytics can further drive customer engagement.

Campaign Management

With CPaaS, telecom companies can create and customize marketing campaigns for their target customer base. Furthermore, they can track and monitor real-time campaign performance specific to each relevant channel.

The Way Forward

With the emergence of omnichannel consumers, telecom companies have a massive opportunity to improve engagement at every touchpoint. However, this requires them to overcome the various challenges discussed above.

Favorably, with the cloud-powered CPaaS platform, telecom companies can help realize a unified and integrated customer experience across various channels. CPaaS platforms also add relevance and context to customer conversations over their preferred channels.

At Globe Teleservices, we offer the cloud-powered CPaaS platform as a customer engagement solution for telecom companies. From CRM integration to chatbots, it houses capabilities to streamline customer engagement across operational channels.

Interested in learning more about how it can transform the omnichannel experience? Get in touch today!

Enabling Innovations – The Purpose That Binds Us

Telecom is one industry that has transformed significantly in the last few years. We have come a long way from fixed landlines and dial-up internet to mobile phones with seamless voice, messaging, and data connectivity.

As a member of this rising sector for years, we are thrilled to witness the many drastic changes transpiring now. We have seen sharply increased, near ubiquitous, connectivity among businesses and individuals, including those based in remote locations. Further, we have had a chance to see how the smaller nations and developing economies have progressed because of communication and information accessibility.

These transformations and first-hand experiences have shaped our ethos and led us to embrace the philosophy of enabling innovations.

What Is ‘Enabling Innovations?’

‘Enabling Innovations’ is a philosophy that our company and affiliates have adopted to codify our DNA as we try to meet customer demands.

We understand that in an ever-changing business landscape, innovation is a key differentiator. It helps enterprises meet and exceed customer needs, often before they become apparent. This enables them to thrive in challenging times, stay ahead of the competition, and increase their revenue.

This bedrock philosophy of ‘enabling innovations’ guides us and our affiliate companies to build products that solve significant problems in finance and telecom.

Take the example of the telecom industry. Fraudulent calls and messaging, SIM box scams, and IP-PBX have resulted in the telecom industry losing $40 billion to fraud alone.

As such, we have built solutions like AI/ML-based anti-fraud voice to safeguard businesses from fraudulent calls and scams. We further provide real-time analytics on messaging traffic and message delivery status to help companies improve connectivity and communication.

We also offer international voice and SMS services for underdeveloped nations to bridge the global connectivity divide and uplift economies. Our solutions provide connectivity to businesses located in remote locations and help them take advantage of new opportunities.

Like Globe Teleservices (GTS), our affiliate companies have also built innovative solutions to solve major global issues.

How Our Affiliates Are Building Innovative Solutions?

CERF

CERF is the enterprise arm of GTS. It has a vast network of 100+ direct carrier connects and provides customer experience, engagement, and security solutions to enterprises worldwide.

GTS TechLabs

GTS TechLabs leverages emerging technologies like AI and data analytics to build solutions that will redefine telecom and fintech industries. Products like Armour X, TxtChain, CPaaS+, and Grentor help MNOs transform and improve efficiency.

Armour X, for example, uses AI/ML capabilities to detect anomalies in traffic patterns. It identifies SIM Farm and IP-PBX frauds, Interconnect fraud, etc. Further, it secures the network from voice and messaging fraud and improves customer experience.

FinBraine

FinBraine offers next-gen lending and eKYC software for telecoms, microfinance institutions, banks, and eCommerce industries. They have built products like IDBRAINE and CREDBRAINE to promote financial inclusivity and provide businesses and individuals with easy access to funds.

How Will Our Customers and Developing Economies Benefit from Our Philosophy?

Although we cater to different clients and industries, each of these affiliates was built to provide innovative solutions.

We have kept innovation at the heart of technologies, methods, and tools built for our clients. It’s the reason why we have been able to empower emerging economies in Africa to deliver everything from healthcare to education. It’s also why we have been able to build products that secure financial systems and provide people access to funds for purchases.

We promise to continue innovating through our ‘enabling innovations’ philosophy. We promise our customers that innovation will be the core of everything GTS and our group of companies develop. It will open new opportunities for businesses to grow and earn revenue. More importantly, it will improve financial inclusion and empower citizens to access funds and purchase whatever they want.

Watch out for this space to know more. We will continue to discuss and promote innovation.

For more information on GTS and our solutions, get in touch.

Top Trends, Influences, and Technologies Driving Telecom Product Development

Today, almost every business can find at least one telecom product within their digital ecosystem. From voice call-enabled services to SMS authentication, they help companies elevate their digital experience significantly.

But, it’s noteworthy that the need for a communications solution has transformed over the years. To understand the trends driving telecom product development, it’s essential to granularly understand this evolved need.

Why Are the Demands From a Telecom Product Different Today from the Past?

Earlier, telecom companies were only seen from the perspective of a network provider building and maintaining the communication hardware. But fast forward to today, telecom companies are strategic partners. They enable businesses of all sizes to scale and succeed with their digital aspirations. In essence, they create the connectivity infrastructure needed to effectively exchange data and information in a digital environment.

Consumers today expect digital-first experiences for almost all their needs, from shopping to healthcare. As businesses expand, telecom products are at the forefront of driving meaningful connections between businesses and consumers.

Areas like customer onboarding, customer experience enhancement, security and authentication, etc. have been transformed significantly courtesy of modern telecom product development initiatives.

It is certain that at least one of the apps you use daily on your smartphone leverages an OTP mechanism via an SMS or a missed call. A telecom product realizes either of these authentication mechanisms. Similarly, there are several capabilities that a telecom product offers to businesses for managing their digital channels.

So, What Drives Telecom Product Development Today?

As we have seen, a telecom product serves as a fundamental building block of modern digital experiences for several businesses. Therefore, development initiatives should ideally incorporate the key traits that define digital experiences.

Let us explore the top four trends that telecom product development initiatives must make special note of:

Seamless Customer Experience

Studies show that 32% of customers would leave a brand after just one poor experience. While building a telecom product, the core ideology that powers every workflow should be to provide a great customer experience. This can be achieved by using customer centricity as a core element of every development initiative.

Speed of Services

Speed is a critical element of customer experience, but it deserves a special mention from a telecom perspective. Today, customers value time more than anything else. Studies show that customer loyalty will improve by over 2.4 times if their problems are solved quickly.

In that light, processes like user onboarding should not take too much time. They often rely on telecom solutions for KYC authentication and user validation. When such products are built, speed should be a major development criterion.

By using solutions that provide easy authentication and faster enablement of Digital KYC processes, businesses can accelerate their customer journey rapidly.

Secure Experiences

We have seen how seamless and fast customer experiences make for great traits in a product development initiative. Alongside them, security is another characteristic that can’t be ignored. As more digital services become enabled and managed through telecom services, it is critical to eliminate any vulnerabilities.

However, preventing fraud will be a major challenge for businesses as they seek to plug leaking revenue and protect customer interests. Therefore, products with anti-fraud intelligence and fraud prevention workflows will be key.

Continuous Innovation

Consumers love innovation in technology that serves them great experiences. This is probably why AI and machine learning have become so mainstream today. For telecom product development, the situation is no different.

Businesses would leverage telecom solutions that can accommodate innovative capabilities in the future. For this, they need to be built with inherent support for AI, ML, IoT, big data analytics, etc. This would allow businesses to build newer customer service innovations by leveraging the underlying telecom framework.

AI-powered customer interactions in the form of chatbots, fraud detection with AI, etc., are just some of the possibilities they can explore.

Wrapping Up

Telecom product development initiatives cannot be judged as a simple endeavor anymore. They hold strategic importance in pushing businesses to achieve better ROI from their digital investments. As such, selecting a solution would require end-to-end analysis of possibilities and potential it can unlock for a business.

Implementing a trusted communication solution for your business is vital, given that critical customer aspects like fraud prevention are on the line. This is where Globe Teleservices can make a huge difference. Our range of trusted solutions has been built to incorporate the latest market trends and innovations. They can undoubtedly propel your digital channels to new heights. Get in touch with us to know more.

The Top 6 Telecom Challenges for Enterprises Working Across National Boundaries

‘Global operations’ is no longer an uncommon dream for companies but an absolute reality across the business world. And we can safely say that communication technology has been a major facilitator of this boundaryless marketplace. The telecom sector plays a key role in helping enterprises build global teams and serve their client base across geographies.

Operating globally opens up more opportunities to serve customers and access expansive talent pools. However, staying competitive can become challenging without the support of robust telecommunications systems that enable collaboration and empower communications.

Some of the key telecom challenges for enterprises that operate across national boundaries are:

1. Routing and Interconnection Challenges

Global business operations need smart voice connectivity across all geographies, as communication keeps all business departments in sync. However, this can become a challenge for enterprises. That’s because different countries mean different telecom operators. Businesses need access to top-notch routing services and interconnects to these operators.

International Virtual Numbers (IVNs) and International Toll-Free numbers also become non-negotiable here. They are facilitators of good customer service and deliver a local experience to customers for such enterprises.

All in all, the challenge arises in integrating voice solutions with multiple channels and ensuring smooth communications. Enterprises must enable customers and employees to make calls from anywhere to any location worldwide. That’s what drives competitiveness.

As such, they need the support of telecommunications voice solutions that provide:

Origin-based dynamic routing
Number handling
Low-Cost Best Quality Routing (LCBQR) services

2. Latency and Call Quality

The days of choppy call quality are thankfully behind us. Seamless, clear, crisp connectivity now drives business outcomes. Low latency in voice calls is, in fact, a business imperative for smooth communication. It drives collaboration and customer experiences in a global world.

While latency between 20 to 150 ms can be barely noticeable, anything in the range of 150 to 300 ms can impact and diminish call quality. There can be noticeable lags and interruptions. Overcrowded networks are often one of the main contributors to such latency.

Therefore, enterprises need reliable international voice solutions. These must provide international coverage and enable easier, faster, and low-latency connections.

3. Challenging Fraud Landscape

Call quality and performance cannot come at the expense of high costs or poor security. As the telecom fraud landscape becomes more sophisticated, enterprises need robust fraud prevention strategies.

They need to build capabilities to prevent fraudulent phone calls, interconnect scams, and international outbound attempts. Further, they have to ensure that the connectivity and performance of their telecommunications assets are not compromised.

4. Real-Time Analytics

Real-time analytics of telecom traffic and the use of new technologies are now becoming imperative for enterprises. This is especially true for those businesses with operations across national borders.

Technologies such as AI and ML are essential to detect fraudulent traffic activities in real-time using pattern analysis. Using intelligent profiling techniques, can also help enterprises take a more proactive stand in risk identification and fraud prevention.

5. High Costs

The cost of international calls can cause a significant dent in the company’s bottom line. With voice call rates increasing globally, enterprises with global operations must look at optimizing cost opportunities.

The telecom sector is constantly evolving, and along with call charges, interconnect charges are also increasing in several geographies. Besides, the sector across the globe offers different floor prices when it comes to floor traffic. This means that the cost of completing a single call can differ across locations and cause a significant dent in the profits.

Identifying cost optimization strategies is crucial for enterprises to contain costs while driving connectivity. The role of voice solutions increases here as they offer enterprises the capability to:

Make affordable international calls
Optimize costs associated with voice calling
Prevent the compromise on call quality or performance

6. Driving Customer Experience

Businesses today are competing on their capability to deliver exceptional customer experiences. One of the key factors influencing customer experience is the enterprises’ ability to deliver contextual and localized experiences. As such, they need to not only tailor product experiences but also deliver local experiences.

From the telecommunications standpoint, enterprises can do this by having local numbers that customers can dial to speak to company personnel. They can leverage telecom solutions to:

Keep up with on-demand customer requirements
Capably redirect calls to appropriate agents who can deliver the localized experience using intelligent IVR

Cloud-based omnichannel customer engagement solutions like CPaaS+ can further help in:

Engaging with customers over their preferred channels
Facilitating hyper-relevant and contextual interactions

All these capabilities influence business outcomes as they help enterprises:

Resolve issues faster
Deliver better customer experiences
Improve customer loyalty rates

The Bottom Line

Enterprises need the support of telecommunications solutions to build high-quality and long-lasting relationships with their customers. To that end, robust, comprehensive, and integrated voice platforms are essential for enhanced call quality and performance.

The right platform can offer the advanced interoperability that businesses need today. It can map out the best traffic routes while providing affordable and cost-effective intercarrier fees.

Apart from this, unified routing, advanced forecasting, in-depth analytics, and live quality assurance are also critical. These capabilities empower enterprises to remain competitive and profitable in a complex and global business landscape.

Interested in learning more about such telecommunications offerings and how they can help your business? Book a strategy call with our experts today!