Telefonica Partners With Subex for Next-Gen Fraud Prevention
Will deploy ROC Fraud Management to all opcos in Telefonica's Hispam unit
London, United Kingdom--(Newsfile Corp. - December 21, 2020) - Subex, a pioneer in the space of Digital Trust, announced a partnership with Telefónica, one of the largest mobile network providers in the world, to provide the latest version of ROC Fraud Management. As part of the engagement, the operator will be deploying Subex's ROC Fraud Management, to all opcos in Telefónica's Hispam unit: Argentina, Chile, Venezuela, Ecuador, Mexico, Peru, Uruguay, and Colombia.
Telefónica is widely recognized as one of the most innovative companies on the digital front, by consistently providing its customers with trusted and secure new-age offerings. As a torchbearer of combatting fraud, Telefónica was keen to find the right partner that would enable them to transcend from fraud detection and management to a proactive fraud prevention approach
Through ROC Fraud Management, Telefónica can leverage the solution's Big Data Hadoop architecture to reduce fraud detection time, improve scalability, and ease integration with Telefónica's local data lakes. The solution will also enable Telefónica to reduce Total Cost of Ownership (TCO), owing to its Open Source capabilities, and its low hardware footprint. Finally, and more importantly, Telefónica can leverage the AI/ML and Signaling Intelligence capabilities of ROC Fraud Management to detect and prevent traditional and new-age frauds across voice, data, and digital services.
According to GSMA, the Latin American market is growing at a promising rate, with a total mobile subscriber base of 440 million and an estimated penetration rate of 73% by 2025. This growth has also led to an increase in the overall digital engagements for the region. However, what this trend has also resulted in is an increased number of targets for cybercriminals to mark through means such as identity theft, social engineering and extortion.
Commenting on the partnership Shankar Roddam, Whole-Time Director & Chief Operating Officer, Subex, said, "This win marks another chapter in our long-standing relationship with the Telefónica group. It is extremely positive to see Telefónica, one of the largest operators in the world, taking such proactive measures to combat telecom fraud. It gives Subex immense pride to be working with them to protect their customers, in addition to our existing partnership with Telefónica's cybersecurity venture. Subex was selected post a very competitive and diligent evaluation process, which pitted us against all other fraud management vendors in the market."
Miguel Sancho Cáceres, Deputy Global Director of Security, said, "Improving our effectiveness in the fight against fraud is one of the key priorities for us at Telefónica. Towards this goal, we consider it imperative to ensure that our services are equipped with state-of-the-art fraud prevention capabilities. To make this reality, we are pleased to partner with Subex and deploy the latest version of their ROC Fraud Management solution. This will ensure much faster processing and detection times, providing far more flexibility, easier access, and agility to our business operations."
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