BARCELONA, Spain -- CSG (NASDAQ: CSGS), the trusted partner in simplifying the complexity of business transformation in the digital age, today announced the availability of CSG Detect, a software as a service (SaaS) solution aimed at detecting and notifying telecommunications companies real-time of potential fraud in their billing process.
Fraud presents a huge problem for mobile network operators (MNOs) around the world, costing nearly $30 billion USD in 20171. As service providers look to embrace new technologies in order to keep pace with industry transformation, fraud will increase in complexity as well. Couple this with the ever-increasing number of devices used by consumers, and the number of consumers at risk of having their personal data accessed or falling victim to fraudulent schemes could increase as well.
Most fraud solutions require heavy resources and manual processes in order to detect and block fraud. As a result, by the time it is blocked, it has already impacted the company. In addition, traditional fraud management applications are either active applications using test calls or passive applications that only analyze live traffic. Using either of these techniques in isolation will only identity a fraction of the total fraud scenarios.
The CSG Detect solution provides fully integrated active and passive testing that enables fast, accurate and comprehensive detection of fraud. CSG Detect has shown to have a much higher fraud detection rate using this combined approach. The cloud-based solution utilizes emerging technologies including Hadoop, a big data technology, as well as artificial intelligence (AI) machine learning to analyze near real-time traffic. This includes an SMS/text messaging and voice feature to identify fraud and alert customers in real time. A combination of CSG Detect with CSG Route’s network provisioning framework enables automatic blocking of fraudulent traffic before any substantial losses are incurred.