Voice biometrics ‘watchlist’ blocks known fraudsters.
With over 150 million subscribers on its network, a large telecommunications provider in North America is the chosen carrier of around a third of US citizens.
Business leader within large telecommunications provider
The high cost of high-end fraud. High‑end smartphones and mobile devices such as tablets have become a popular target for organized fraud groups in recent years—and it’s easy to see why. They’re pricey, sought after, and can be easy to get if the company doesn’t have the right level of security.
Telesales is a key channel for telecoms providers—unfortunately, it’s also a prime target for fraud. With only number verification in place previously, the teams needed a new method to defend against the organized fraud groups, which could cost them an average of $2,000 per fraudulent transaction. Combine that with further fraud attempts through warranty and support channels, and this figure can rapidly snowball and affect the provider’s partners and customers directly.
This type of fraud can also cause major reputational damage, both among partner companies and customers. And, in an environment where it’s easier to change provider than ever, brand reputation is a key differentiator, and that means working hard to protect it.
However, combatting this type of fraud isn’t always a simple process. The telecommunications provider was looking for a way to fight fraud without making the customer experience more difficult for its legitimate callers. As a long-term Nuance client in other areas of its business, such as employee and customer verification, the provider chose Security Suite for its ability to balance the dueling dynamics of fraud prevention and friction.