How Trusted Communications Superheroes are Winning the Battle Against Fraud and Operational Inefficiency to Protect Customers and the Bottom Line
iconectiv executives showcase how communication service providers are mitigating
fraud, caller ID spoofing, smishing, illegal robocalling, network inefficiency and more
- What’s the News: Years of rapid technology and regulatory innovation have created major revenue streams and market opportunities for service providers. They have also increased the need for new ways to mitigate fraud, errors and inefficiencies.
- Why it Matters: Fraud like illegal robocalls, nuisance calls and messaging spam undermine consumer trust, creating business challenges for service providers, their enterprise customers and consumers. In the shadows of service providers globally, a squadron of advanced and intelligent superheroes are diligently working to keep the integrity of the communications infrastructure and the relevancy of the communication channels intact.
BRIDGEWATER, N.J. – February 15, 2023 – Consumers and businesses depend on voice calls and SMS not only to communicate, but also to enable security safeguards such as two-factor authentication for bank accounts. That’s why fraudsters also look to voice and SMS for illegal robocalling, smishing, account takeovers, PBX hacking, one-ring scams and other types of communication fraud.
By mitigating fraud, a squadron of trusted communication superheroes are using their powers to help service providers protect their customers and their bottom line. They are equally vigilant about combatting the operational challenges that are the unfortunate by-products of the rapid technology and regulatory innovation that benefits consumers and business alike.
At MWC Barcelona 2023, iconectiv executives will highlight the work of the industry’s Superheroes—who are propelling the communications industry’s momentum by keeping people connected, businesses running and commerce flowing. They will also discuss the progress that service providers, regulators and associations such as CTIA, ATIS and GSMA are making to protect businesses and consumers and boost operational efficiency. For example:
- Not knowing a customer’s identity is expensive, especially for service providers forced to cover the cost of one-ring scams as well as other PBX hacking, international revenue share fraud (IRSF), interconnection-related revenue leakage and fraudulent roaming calls to premium-rate services. iconectiv TruNumber Protect gives service providers intelligence for telephone numbers worldwide, cutting down one-ring scam calls and text messages.
- Service providers will invest $900B in their networks from 2021 to 2025, of which more than 80% will be on 5G. Keeping customers happy while knowing what equipment and capabilities they have and don’t have means systems must work together across business units, domains and locations. A naming standard like iconectiv TruOps Common Language® accomplishes this by identifying and protecting network assets in a consistent manner.
- Each year, 252 million wireless subscribers around the world change their phone service provider, which means service providers are dealing with increasing account turnover, which also opens the door to fraud. iconectiv TruNumber Routing allows service providers to instantly validate the terminating service provider and determine the optimal, least-cost route to a successful call.
“Illegal robocallers and other fraudsters aren’t the only villains attacking the trusted communications ecosystem. They’re joined by network and asset management complexities that undermine service providers’ bottom lines, making it challenging to continue innovating,” said Richard Jacowleff, iconectiv CEO. “But those villains are losing the battle on every front thanks to the growing legion of Trusted Communication Superheroes. From porting numbers to rolling out 5G, they’re thwarting fraudsters, restoring consumer trust and ferreting out inefficiency and inaccuracy needed to accelerate digital transformation efforts and move conversation commerce forward.”
MWC Barcelona 2023 attendees can learn more by visiting iconectiv in Hall 2 at Stand 201MR or by scheduling a meeting via email@example.com.