Neural Technologies implements 'most effective bypass fraud solution to date'
Risk management and analytics expert Neural Technologies has implemented its most effective bypass fraud solution to date, combining operator test call solutions with Neural’s Minotaur Fraud Management Solution.
Date: 1st June 2015
Fraud presents a significant challenge for many organisations. According to a survey by the Communications Fraud Control Association (CFCA), bypass fraud cost operators almost $2 billion (USD) in 2013 and there is no evidence that this number has decreased. Neural’s latest approach combines analysis of the test call data used by operators to detect fraud, with the traditional CDR analysis undertaken by the Minotaur solution. By merging these analyses, Neural’s customers are able to detect more frauds more quickly and with greater accuracy.
Stephen ‘Kai’ Sui, CEO of Neural Technologies commented: “Bypass fraud remains a prevalent threat to the telecoms industry and has become increasingly complicated through the years. We have had to come up with dynamic, flexible and highly adaptable solutions able to protect operators and identify both frauds and the fraudsters. I think we have developed the most effective bypass solution to date.
“Many operators employ test call solutions as a part of their fraud management programme, and by integrating this with Neural’s Minotaur solution, fraud managers are able to get a more dynamic understanding of how bypass frauds are operating and be more selective about the way they stop fraudsters. The integrated solution reduces investigation time and costs and reduces the risk of inadvertently terminating the contracts of legitimate customers.
“Bypass fraud is different in different regions worldwide and we believe that operators could see between a 20% and 80% improvement in bypass fraud detection, depending on the country in which they do business. The incremental revenue required to integrate the data from the operator’s Test Call solution with the Minotaur Fraud Management solution is negligible, but the benefits in terms of speed, accuracy and volume of fraud detected could be significant.”
Minotaur Fraud Management Solution (FMS) provides comprehensive protection against a multitude of fraud types. It empowers organisations to detect fraud, whether the source is internal, external, customer, partner or dealer. Neural ran the first Proof of Concept (POC) of a combined pattern and test call solution 3 years ago and will be announcing the first live customers in due course.
- Name: Chloe Purcell
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