5 success factors for effective implementation of account verification services
Fraud actions using personal data (ID fraud) are a serious problem for mobile network operators (Mobile Network Operators, MNO), considering that there are already about 200 such frauds in the world, and 35% of all fraud on mobile devices is associated with subscriptions. And this is a problem that cannot be ignored - for many cellular network operators, it leads to excessive costs. Moreover, in addition to losses for operators due to loss of profits, such fraudulent actions are detrimental to consumers, making it difficult to accept and develop new services. How can innovations be developed if companies are constantly forced to allocate significant funds and resources to minimize the effect of fraud?
There are three important reasons why we should pay attention to this issue:
But how can we resist fraud? The answer lies in the introduction of trusted and tested account verification services, which allow reliable verification in real time. Such solutions are already on the market and have enough flexibility to meet various needs - they allow you to:
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Given all of the above, of course, it will be interesting for operators of mobile networks to find out what determines the successful implementation of such initiatives. Can they be sure that all the projects they have implemented will work?
Below we describe the five key factors that determine the success and effectiveness of the projects being deployed.
A phased approach to project development, even before it is fully deployed, ensures that the solution is brought to perfection and ensures proper efficiency. With this approach, developers will be able to turn to the best advanced experience and get the opportunity to avoid other people's mistakes, whereas if you migrate all retail outlets at once, this can lead to certain problems. These first stages play an important role in trying to understand, analyze and document the dynamics of fraud using personal data on a small scale, before implementing the solution at all retail outlets at once.
In addition, such a phased and systematic approach requires operators to be ready for the emergence of new regulations and changes in legislation during the implementation of the solution. At first glance, this is not particularly difficult, but in practice everything may turn out quite differently. And this is really important if you want to ensure the possibility of verifying credentials in all use cases (including when introducing any separate additional services), as well as when purchasing and renewing prepaid SIM-cards and pay-as-you-go cards. As a result of all these measures, mobile network operators will be able to guarantee compliance with the requirements of current legislation and will be ready for the emergence of new requirements.
Having full feedback is an important factor that should not be underestimated. Sellers in stores are ready to talk about the most effective methods of work in all situations. If the main collective goal is to increase profitability, then any solution to prevent or at least minimize the number of fraudulent actions with personal data and reduce the corresponding costs should be met with open arms. As soon as the solution for verification of certificates demonstrates its effectiveness, it will instantly become the subject of active discussions within the company, which will contribute to its wider dissemination.
When it comes to adopting technologies by the user, we should make working with them as simple and convenient as possible for all employees and customers. This means that employees in retail outlets will be able to focus on customer service, rather than on administrative tasks.
An example of such an approach is the automated form filling for the convenience of customers and employees, because such solutions speed up the registration of new customers and allow you to minimize errors during data entry.
And if a company can show that while simplifying this interaction, it also properly takes care of the confidentiality of user data, then such a company will be able to build more reliable and trusting relationships with its customers.
The best account verification services are designed to have minimal impact on existing infrastructures. They are seamlessly connected to existing IT systems and can be used (with or without scanners) on mobile devices, such as smartphones and tablets.
Such a simple and flexible integration with the existing infrastructure ensures quick implementation of the project. In addition, customizable reporting makes it easy to integrate such solutions into existing internal back-end systems.
Based on their core mobile Internet and voice services, mobile network operators may offer additional value-added services, such as ticketing services for transport, banking services, or mobile payment services.
Our own services for verification of accounts from Gemalto provide a unique and uniform mechanism, covering all such additional services at once, helping to simplify sales processes both at retail outlets and remote sales processes.
Download the free report for mobile network operators “Five key success factors for effective implementation of account verification systems” or learn more about multi-channel account verification services, including advanced biometric verification methods, on our dedicated page .
There are three important reasons why we should pay attention to this issue:
- Reputation: victims of fraudulent activities with the use of personal data move away from mobile network operators who have committed such fraud, and cease to trust them
- Profit: companies' annual costs due to fraudulent personal data are 40 billion euros in total
- Compliance with the law: financial services on mobile devices will continue to evolve, and mobile network operators will have to follow customer identification rules (KYC), otherwise they will be forced to pay heavy fines
But how can we resist fraud? The answer lies in the introduction of trusted and tested account verification services, which allow reliable verification in real time. Such solutions are already on the market and have enough flexibility to meet various needs - they allow you to:
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- Verify authentication documents (to verify the authenticity of documents)
- authenticate clients (to ensure that the document is presented by the person indicated in the document) using advanced biometric methods
- perform a risk assessment (check if the document owner is on the check list)
- compile account verification reports (for audits)
- automatically fill out forms (to speed up registration of new customers and minimize errors caused by manual data entry).
Given all of the above, of course, it will be interesting for operators of mobile networks to find out what determines the successful implementation of such initiatives. Can they be sure that all the projects they have implemented will work?
Below we describe the five key factors that determine the success and effectiveness of the projects being deployed.
Phased systematic approach
A phased approach to project development, even before it is fully deployed, ensures that the solution is brought to perfection and ensures proper efficiency. With this approach, developers will be able to turn to the best advanced experience and get the opportunity to avoid other people's mistakes, whereas if you migrate all retail outlets at once, this can lead to certain problems. These first stages play an important role in trying to understand, analyze and document the dynamics of fraud using personal data on a small scale, before implementing the solution at all retail outlets at once.
In addition, such a phased and systematic approach requires operators to be ready for the emergence of new regulations and changes in legislation during the implementation of the solution. At first glance, this is not particularly difficult, but in practice everything may turn out quite differently. And this is really important if you want to ensure the possibility of verifying credentials in all use cases (including when introducing any separate additional services), as well as when purchasing and renewing prepaid SIM-cards and pay-as-you-go cards. As a result of all these measures, mobile network operators will be able to guarantee compliance with the requirements of current legislation and will be ready for the emergence of new requirements.
Qualitative feedback
Having full feedback is an important factor that should not be underestimated. Sellers in stores are ready to talk about the most effective methods of work in all situations. If the main collective goal is to increase profitability, then any solution to prevent or at least minimize the number of fraudulent actions with personal data and reduce the corresponding costs should be met with open arms. As soon as the solution for verification of certificates demonstrates its effectiveness, it will instantly become the subject of active discussions within the company, which will contribute to its wider dissemination.
User orientation
When it comes to adopting technologies by the user, we should make working with them as simple and convenient as possible for all employees and customers. This means that employees in retail outlets will be able to focus on customer service, rather than on administrative tasks.
An example of such an approach is the automated form filling for the convenience of customers and employees, because such solutions speed up the registration of new customers and allow you to minimize errors during data entry.
And if a company can show that while simplifying this interaction, it also properly takes care of the confidentiality of user data, then such a company will be able to build more reliable and trusting relationships with its customers.
Integration into existing infrastructures
The best account verification services are designed to have minimal impact on existing infrastructures. They are seamlessly connected to existing IT systems and can be used (with or without scanners) on mobile devices, such as smartphones and tablets.
Such a simple and flexible integration with the existing infrastructure ensures quick implementation of the project. In addition, customizable reporting makes it easy to integrate such solutions into existing internal back-end systems.
Support strategies for expanding the business of mobile network operators
Based on their core mobile Internet and voice services, mobile network operators may offer additional value-added services, such as ticketing services for transport, banking services, or mobile payment services.
Our own services for verification of accounts from Gemalto provide a unique and uniform mechanism, covering all such additional services at once, helping to simplify sales processes both at retail outlets and remote sales processes.
Download the free report for mobile network operators “Five key success factors for effective implementation of account verification systems” or learn more about multi-channel account verification services, including advanced biometric verification methods, on our dedicated page .
Source: https://habr.com/ru/post/342260/
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