Amid the transformation of the digital world, telecom companies are at the forefront of this change. The growth of smartphones has increased our ability to connect and deliver content anywhere on the planet. This phenomenon is making it easier for people to rely on their cell phones for much more than just making phone calls. Telecommunication companies are experiencing large-scale changes to their industry and the world as we know it.
Few other industries are as competitive as telecom. With a relentless drive to acquire more customers and market share, fraud detection, and management is often an afterthought. This tactic is dangerous, because identity fraud can cost telecom companies huge sums of money – and expose them to large amounts of risks.
Millions of people worldwide now have access to a globally connected network—aka the Internet. This has created digital inclusion around the world. New opportunities are changing the way consumers and companies interact online. In the midst of this change, telecom companies are working diligently to handle changing customer expectations. Customers now expect more innovative services at a mobile level that are convenient and easy to use. Telecom companies are decreasing their margins, increasing competition, and actively looking for ways to stay relevant and profitable.
As technology advances, global information continues to flow at an increasing rate. This is creating new risks for data privacy, fraud protection, and security. Criminals often use fabricated identities to secure telecom services. This type of telecom fraud involves identity theft or the use of fabricated identities during onboarding. This enables criminals to use telecom services such as TV, internet services, mobile banking, virtual wallets, and other high-value services for more fraudulent applications.
Regulators are becoming increasingly interested in the telecom industry to help fight against the nefarious use of mobile devices for terrorist attacks or other criminal activities. They are actively pushing for telecom companies to comply with Know Your Customer (KYC) regulations and mandatory SIM card registration.
While telecom companies are starting to realize the strategic impact of effective fraud management, the systems they have purchased are often so complex they cannot be used practically. Even highly trained staff have difficulties using these systems. This is especially true in many developing countries where subscriber verification is now mandatory. Many mobile operators are now working to improve their customer verification process.
IDMERIT delivers an automated suite of new subscriber verification tools that can be deployed quickly and seamlessly across your organization during the onboarding process. These products will help your company remain in compliance with regulations, maintain security and actively fight against fraud. The results we deliver are cost effective, low risks, and highly efficient.
IDMkyc is an identity verification solution that offers to make the onboarding process for new subscribers seamless. The secure API takes information imputed by a new user and crosschecks it against information stored in global, official data sources. This solution will allow any telecom provider to streamline the customer identification process. This will reduce account abandonment and lead to more subscribers.Learn More
IDMscan is a more robust identity verification tool offered by IDMERIT. It can also make the onboarding process seamless for new subscribers by offering instant identity verification. A customer simply needs to scan an official identity document—driver’s license, national ID or passport—for validation. The ID will be validated and from there it will connect to IDMkyc to verify that the information on the document is legitimate. It will also require a user to perform a biometric scan for further validation. Through this multi-channel authentication process, a telecom provider can be confident that new users are actually who they say they are. Both IDMkyc and IDMscan use an automated process to complete identity checks. This process ensures that consumer data remains secure and is not put in danger. Identity theft is a real threat to consumers and telecom providers must remain diligent to mitigate this risk to consumers. With IDMERIT’s identity solutions, telecom providBook A Demo