In a recent MEF webinar Nicholas Rossman, MEF Director of Programmes was joined by Bradley Greer, Vice President, Data Solutions & Product Marketing at netnumber, who shed light on the power of harnessing next-generation insights at the phone number level to circumvent fraudulent activities and establish trust with phone numbers within the telecom ecosystem. In the following article, Bradley provides an overview of the webinar’s highlights.
As the telecom industry seeks to quash the numerous and increasingly sophisticated fraud schemes frustrating providers, consumers and businesses alike, it’s clear that one constant cuts across all these malicious activities – the phone number.
In fact, today’s smartphones –– and our associated phone numbers –– now serve as a unique identifier that companies ranging from banks to internet providers use for account authentication purposes. While this provides convenience for customers and vendors, it has unwittingly created a focal point for fraudsters to hatch numerous schemes.
That makes the ability to verify and validate phone numbers in real time an incredibly powerful resource for undermining fraud.
With access to granular, up-to-date records of phone number attributes and behaviors, Number Check’s proprietary data helps customers address a multitude of fraud types – a capability which quickly translates into a host of benefits…“
The Power of Instant Phone Number Verification
The good news is that this capability already exists within the telecom ecosystem. For example, netnumber’s Number Check is an existing sophisticated solution that validates phone number accuracy in real time across over 200 countries, with more extensive verification capabilities available in more than half of those countries.
With a simple, API-based implementation, Number Check enables Communication Service Providers (CSPs), Mobile Virtual Network Operators (MVNOs) and business enterprises to quickly identify and halt the transmission of suspicious numbers before they ever reach their intended targets.
Number Check provides this capability via the use of real-time phone number intelligence data, which netnumber curates from all over the world. netnumber, in fact, we’ve been working with data for over 20 years and can tell customers whether any number in their ecosystem is valid and reachable via voice or messaging.
With access to granular, up-to-date records of phone number attributes and behaviors, Number Check’s proprietary data helps customers address a multitude of fraud types – a capability which quickly translates into a host of benefits, including:
- Improved message delivery performance and control
- Enhanced user experiences
- Reduced transaction costs
- Diminished risk and better security
Real-World Use Cases Show Significant Results
Number Check’s capabilities can be seen most effectively in actual use. Here are two real-world examples:
Use Case #1: Business Enterprise – A large hyperscale data center operator was experiencing issues with fake profiles being created to trick other users and commit various fraudulent activities. The company brought in Number Check to improve fraud identification.
Results:
- Reduced fraudulent profile creation by 11%
- Saved over $150K per month on OTP costs
- Terminated bad users faster
Use Case #2: Messaging Provider – This provider was experiencing significant message routing costs due to undelivered SMS messaging. Previously, they were relying only on internal data to screen for potential fraud. Number Check improved the process, provided additional insights and mitigated losses.
Results:
- Reduced fraudulent messaging
- Detected 12% invalid phone numbers
- Terminated bad phone numbers & users faster
- Eliminated inefficient processing modules
By circumventing contact with invalid or illegitimate phone numbers used in fraud attempts, customers can not only prevent problems but also improve processes. Simply put, Number Check is an extremely fast, easy-to-use solution that enables customers to avoid costly friction and backend problems, resulting in better service to their customers.
