Neural Technologies implements mobile payments fraud management solution in Africa


Neural
Technologies has implemented its Minotaur solution to manage mobile payments
fraud at a leading African mobile telecoms operator.

 

Neural
Technologies’ Minotaur mobile payments fraud management solution will monitor
every stage of the mobile payment transactions carried out on the African
operator’s mobile payment platform.

 

This
includes monitoring the various entities involved in each mobile payment
transaction: sender, recipient and dealer. This information is cross-referenced
with payment data and subject to comprehensive analysis to highlight
characteristics or anomalies that may be indicative of fraudulent activity.

 

Analysis is
carried out using a variety of advanced techniques, including link analysis,
analytical modeling and behavioral profiling, in addition to traditional rules
based monitoring.

 

The solution
will integrate with law enforcement agencies, providing an effective
communication channel to permit the reporting and sharing of information.

 

Neural Technologies was selected by the operator
following a comprehensive selection process which saw Minotaur replacing a
previous third-party fraud management solution.

 

The main
reasons for Minotaur’s selection were cited as: its unique proprietary technology,
unavailable from other suppliers; its flexibility to accommodate new emerging
network services; and its ability to integrate with external systems and
departments.

 

We are
delighted to have been selected by this operator and to be at the forefront of
managing mobile payments fraud.This implementation has taught us much about
managing fraud and risk in mobile payments. We would like to share what we have
learnt with other mobile operators and to this end have put together a report
describing the varying mobile payment technologies and the fraud risks
associated with them,” said Luke Taylor, commercial director, Neural
Technologies.

 

The Mobile
Payments Overview – Fraud Management report contains suggestions on how to
reduce fraud in mobile payment environments and is offered free of charge (and
without obligation) to telecoms operators.

 

By
Telecomlead.com Team
[email protected]

 

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