Telco’s are facing great challenges in managing the risk portfolio and tough market competition. With the rapid development of new technologies and the growing volume of “Big data“, predictive analytics has drastically started to change the business’s long-lasting challenges. A global industry consists of thousands of companies and collects over $310 billion in revenue each year. It is estimated that the cost of fraud and revenue leakage in the industry is as high as $70,1 billion each year. A typical telecommunication company loses 5% - 9% annually, due to revenue leakage and fraud. With the continued growth and expansion of services and products to mobile users, such as Mobile payments, E-banking, and others, it has become of great importance for telecoms to implement efficient Predictive and Fraud Prevention solutions.
Telecom operators are facing many demands. They have to sustain network quality, achieve positive customer perception and deal with new geopolitical disruption trends. One of the biggest challenges is meeting the demands of regulators who require to retain parts of collected call and billing data. The retained data have to be processed in a prescribed manner and prescribed time, as set by the regulator. They desperately need assistance in providing a legally compliant data retention architecture, which enables comprehensive reporting to meet specific requirements. Telecommunication providers are always in a hurry to release modern technologies and business processes to the market. The risk for them is changing rapidly and Revenue Assurance systems are always lagging behind. Every business line needs to be more defensive against those “smart technicians” who are motivated to find a way to cause revenue loss. Operators also lack insights regarding Fraud and Revenue Assurance processes, which restrains them to have a clear risk profile.
The main features of RAALS in the telecommunications industry are risk assurance, data retention, fraud prevention (and fraud management), anti-money laundering, legal intercept and revenue assurance.
RAALS will help you highly improve your efficiency for Active Archives. It automates the process of retaining records from various sources for the full time of their retention periods. Many of the records that telecom operators must retain are regulated by rapidly changing legislation. This increases complexity and consequently also the cost of compliance. RAALS enables your telecom company to set up an automated straightforward process for retaining records in accordance with the latest regulations. Fraud Management is the designated mechanism to detect, manage and assist in the investigation and prevention of every fraudulent step in a telecommunications operator’s network to the point of resolution. Fraud Management identifies abnormalities in data traffic patterns and reports suspicious practices that suggest fraudulent or irregular activity. In order to efficiently create a consistent and unique visual interpretation of telecom fraud, fraud management capabilities must include all of the available data and in-depth analysis to combat and uncover new fraud insights. High-performance behavioral analytics are required to examine all actions happening across a network, in real-time, in order to spot anomalies that may indicate potential fraud. In addition, RAALS has an ETSI (European Telecommunication Standards Institute) compliant interface allowing automated access to the retained data with minimal human intervention.