Risk Management for IoT Business

Monitoring And Controlling Risk In The IoT Value Chain.

WeDo Technologies’ IoT Risk Management Practices

The Internet of Things (IoT) is a rapidly expanding space, with new devices, business models and technologies emerging all the time. WeDo Technologies IoT risk management framework includes consulting services, software tools, managed services, software deployment and professional services , which can help to design, implement, operate and improve a communication services provider (CSP) with an Internet of Things‎ risk management framework

RAID – Risk Management Software For IoT

WeDo Technologies’ RAID platform provides an integrated and flexible solution for CSPs t hat want to assess IoT risks, define controls, and monitor events that lead to the identification of issues, as well as to implement and track remediation plans. RAID risk management solution provides advanced analytical capabilities to gain real-time, end-to-end visibility into IoT business processes such as new service activation, or complex 5G slice billing.
  • Audit and control all IoT risks along the value chain
  • Monitor IoT risks and have the option to take action
  • Make action plans with process owners via drill-down dashboards
  • Track all IoT risk issues closely to ensure timely follow-up, avoid large risk events, and prevent potential losses

IoT Risk Management For Securely Monetizing Your IoT Business Models

IoT Connectivity Usage
Audit volumes and the nature of connectivity between devices, between devices and controllers, and between CSPs and the IoT gateways for revenue assurance proposes.
  • Integration with network fault management
  • Machine learning based analytics
  • Predictive assurance to protect SLAs
  • Monitor every IP enabled device that produces data
Billing Validation
Build personalized wholesale subscription pricing with Elastic Billing auditing. Monitor and control how you process and monetize big data collected from “things”.
  • Real-Time monitoring
  • Highly configurable and inter-operable
  • Ready for dynamic pricing policies
  • Compatible with differential rating plans (Service Type, QoS, volume of data, Tariff Switch, Location, etc)
Fraud Management
Get the most relevant IoT risk management data and use it to respond to particular fraud patterns with a sophisticated and far-ranging predictive analysis.
  • Real-Time detection engines
  • Predictive analysis capability
  • Specific controls for the mobile channel
  • Digital identity validation
  • Contextual anomaly detection

Provisioning And Authentication Assurance

Although the IoT brings connectivity to many new devices, the secret to keeping all the services up and running in terms of having devices, services and customer identity correctly provisioned has not changed. Combining a rule-based approach with machine learning, RAID monitors the IoT value chain to predict and preemptively monitor device, service and identity provisioning, across different platforms, protocols and ecosystems.
  • PaaS onboarding provisioning
  • VAS provisioning
  • Remote SIM provisioning for M2M
  • Identity provisioning
  • LPWAN and LoRaWAN™ Monitoring

Monitor IoT Risks From One Single Platform

With RAID, all the necessary tools are integrated into one single platform for risk management. As an end-to-end solution it covers everything from data collection to risk analysis and reporting.
With the flexibility to define controls, RAID also provides prebuilt modules for risk management areas such as revenue assurance, fraud management and business assurance

Where All Of Your Risk Management Strategy Comes Together

Partner Lifecycle Auditing
Audit partner management from on-boarding to settlement, including partner and partner hierarchy up to N- level, minimum commitment obligations and partner credit limit assignment and provisioning.
Security And Fraud
Monitor how customer identities are being used on devices to participate in transactions by using biometrics. Link weak security controls with anti-fraud policies, eradicating points of weakness for a truly integrated fraud management strategy.
Wholesale Rating And Charging
Audit multiple rating schemes based on monetary balance or events, discounts, revenue-sharing models, zero rated, etc with partner account – guiding information to product package association.
Real-Time Anomaly Detection
Use predictive and interactive fraud analytics capabilities with batched and real-time data processing. Take advantage of an extensive library of fraud detection rules combined with data clustering to model unknown types of fraud..
Margin Analytics
Access intelligent margin analysis and reports on usage patterns at service, product and partner levels. Monitor an unlimited number of partner agreements, revenue sharing and hierarchy levels
Get Data From IoT Gateways
Monitor automatic device provisioning in a specified IoT hub through the collection of data coming from open, published & secured APIs/web-services/interfaces during zero-touch, just-in-time device provisioning.

WeDo Risk Consulting Services

All telcos can benefit from a proactive risk management strategy when rolling out an IoT business. This means defining key risks, weighing their probability and impact on business drivers and developing your thinking on actions to take. WeDo Technologies can support you in this. Our consultancy experts can undertake risk assessments that go beyond financial and regulatory risk to consider the wider environment in which you deploy IoT services. Additionally our consultancy experts can help you put in place effective monitoring and control tools that give you earlier warnings, and enable you to respond quickly and effectively.
  • Profitability and liquidity
  • Operational excellence
  • Compliance
  • Growth opportunities

Blog Posts

Staying Safe in a Connected World
Within two years it is expected that there will be 4 connected ‘things’ for every person on the planet. The growth of the Internet of Things, or IoT, means more convenience and opportunity for more people, but it comes at a cost.
Will Connected Cars be able to drive through data overflow?
Four years ago General Motors spelled out how much customers would have to pay to access cellular networks...
In the IoT age fraud management and security matters more than ever
According to Juniper Research, by 2020 there will be close to 40 billion connected devices on the planet...
When Planning a IoT Strategy, Don’t Overlook Fraud Management
One of the risks of the increasing number of connected devices is the rise of IoT botnets.

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