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RAID: Fraud Management System
Integrated in RAID’s Business Assurance framework or as a standalone solution, RAID:FMS is WeDo Technologies’ solution to address a whole range of fraud types in a wide variety of environments.
Fraud is the single biggest cause of revenue loss in the telecom market. Globally, Communication Service Providers (CSPs) loose 3% of their annual revenue due to fraud. The introduction of NGN/LTE networks brings greater challenges for fraud investigators and analysts. In this constantly changing environment, enormous volumes of data need to be correlated, and evidence can disappear before a fraud scenario is even detected.
RAID:FMS is WeDo Technologies’ Fraud Management System that provides real-time fraud protection by identifying suspicious or fraudulent activity.
RAID:FMS helps fraud analysts and investigators to determine what countermeasures they need to take and when they should be taken, thereby enabling CSPs to defend against the most recent fraud threats.
RAID:FMS processes data from the CSP and its partners. It then applies a number of different rules, profiles and data analytics to verify if the CSP’s network and services are being used to commit fraud. RAID:FMS also integrates Case Management capabilities to ensure that all identified fraud incidents are recorded and tracked in a centralized location. This historical information can be stored or loaded by a third party and used to identify repeat fraudsters by indentifying links between new and old cases.
RAID:FMS processing capabilities for NGN/LTE fraud threat detection
The improved data capabilities and associated all-IP networks will stimulate the creation of a wide range of new services. With LTE, event data is projected to increase 10-15 times the current rate. To address these challenges, RAID has developed the Integration Module. The Integration Module is a stable, high performing ETL that is capable of addressing the high volume requirements of LTE.
Fraud Detection for convergent services
The convergence of services brings with it a convergence of risk, and the tools CSPs’ use to combat these risks will have to evolve. While a traditional FMS can only cover some aspects of fraud, new types of fraud and risk will need to be managed. RAID:FMS is a proven solution that is already deployed in multiple operator sites. It performs fraud management for both fixed-line and wireless networks, and allows operators to have a single view of the customer, regardless of the number of services being provided.
Accurate Fraud Detection Engines
Fraud detection is continuously evolving and requires a tool that can intelligently adapt to criminal strategies and ever-changing tactics for committing fraud. RAID:FMS fraud detection engines are completely flexible and can evolve over time to detect new fraud patterns and trends. The tune and design capabilities associated with RAID:FMS engines allow the Fraud analysts to detect new fraud techniques and reduce fraud losses and minimize false positives. This not only boosts fraud analysts’ productivity but also improves the effectiveness of fraud operations.
Working together to achieve a fully integrated Risk Management Strategy
RAID:FMS key functionalities assure the evolution of a comprehensive “Business Assurance” vision by integrating with other risk management areas to allow a unique and single view of fraud threats. RAID:FMS can also supply recommended remedial actions based on previous resolution scenarios and deliver risk performance reports that will ultimately deliver an impressive ROI.
Whether it is integrated in RAID’s Business Assurance framework, or working as a standalone solution, RAID:FMS provides a unique view of the interaction between Fraud Management, Revenue Assurance, Credit Management and Network Security.
With these functions working together, operators will be in a very strong position to meet today’s fraud challenges.
Why WeDo Technologies
RAID Fraud Managment Solution software module and WeDo Technologies expertise in the implementation of Fraud Management projects, offer all the guarantees for operators that want implement a tool that allows them to create a fully integrated risk management strategy.
RAID Bsuiness Assurance platform currently protect the revenues from more than 850 million subscribers all over the world. This experience drives us to achieve incessant enhancements in the quality and efficiency of our service and products.
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