Neural Technologies & Turkcell win Global Telecoms Business Innovation Award
Neural Technologies and Turkcell, Turkey’s largest mobile telecoms operator, have been presented with a Global Telecoms Business Innovation Award in recognition of a large-scale fraud and credit risk management software implementation.
Date: 1st June 2011
The award, in the category of Business Service Innovation, was presented to representatives from both companies at a glittering ceremony at the Sheraton Park Lane Hotel in London.
The award recognised the work of both companies in implementing Neural Technologies’ Minotaur Fraud & Credit Risk Management solution; replacing disparate fraud systems and credit procedures with one unified risk management solution.
As the investigation work carried out on fraud and credit risk cases is similar, combining the two functions within one single platform/interface is an expedient move by Turkcell, offering monetary, time and resource savings.
The Minotaur Fraud & Credit Risk Management solution provides Turkcell with many other benefits:
Its dynamic (as opposed to fixed) spending limits regularly update based upon customer behaviour, e.g. service usage, spending, predicted spending before the end of bill cycle and payment activity. This not only keeps bad debt to a minimum, it also rewards those able to pay with higher limits, encouraging further spending.
It provides advance warning of bad debt so preventive strategies can be put in place. By continually monitoring each customer’s usage and extrapolating that information, the solution is able to predict whether a subscriber’s spending limit is likely to be breached before billing period end.
Furthermore, in addition to empowering Turkcell to identify risk, Minotaur Fraud & Credit Risk Management solution is also helping to foster good customer relations and reduce customer churn through a variety of initiatives, including:
- Automation of customer communication first and subsequent SMS payment reminders, as well as scheduling follow up reminder telephone calls though the call centre.
- Advanced warning of “Bill shock” SMS alerts to subscribers who rack up abnormally high charges when accessing the Internet from their phone whilst roaming.
Read more about the project in our case study: Turkcell - Managing Risk & Improving Customer Satisfaction.
This is not the first time this project has been recognised; earlier this year Neural Technologies was presented with an IT Europa European IT Excellence Award in the category of ISV Enterprise Application.
Head of Fraud & Subscriber Risk Management for Turkcell, Erdim Burdu, said: “We are delighted that our project has once again been recognised by leading authorities in the industry. We plan to continue working with Neural Technologies, with Minotaur being an indispensable platform for the future, expanding and adapting to our company needs”.
The editor of Global Telecoms Business, Alan Burkitt-Gray, commented: “This is a sure sign the industry is working harder and harder to deliver exciting and innovative services to customers worldwide. We’ve seen a greater number of nominations for services directly aimed at businesses and consumers, designed to give them better services and make their lives easier. Congratulations to all of this year’s award winners and to Neural Technologies and Turkcell for the Minotaur Fraud & Credit Risk Management project.”
Click here to find out more about the Benefits of a Unified Fraud & Credit Risk Management Solution.
About the Global Telecoms Business Awards
The GTB Innovation Awards are designed to honour innovative projects involving telecoms operators and service providers around the world working in association with their vendors and suppliers.
They recognise the most innovative projects in the telecommunications industry; projects that the judges feel make a real difference to the sector.
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