TeleSign, the world’s first end-to-end communications platform as a service (CPaaS), today announced the integration of BICS’ Telco Fraud Data Consortium platform into its industry-leading fraud intelligence solution, TeleSign Score. This integration enables TeleSign’s Score API to leverage BICS’ vast global network of crowdsourced telecom fraud data to help companies better predict, detect, and block fraud.
TeleSign Score is a powerful risk assessment API that delivers fraud reputation scoring based on phone number, email, and IP address intelligence, as well as traffic patterns, machine learning, and a proprietary global data consortium. In addition to its existing data points and algorithms, TeleSign’s Score API now analyzes BICS’ global fraud data in real-time when calculating its risk reputation scoring.
“What we’ve heard from businesses today is as much as ten percent of their user base is fake, leading to rampant account-based fraud that is leaving their real users and ecosystems in danger,” says Tom Powledge, Chief Product Officer at TeleSign. “With these enhancements to TeleSign Score, our customers can now take advantage of an unrivaled database of global risk intelligence to better predict and block account-based fraud before it affects their users and their reputation.”
The Importance of Fraud Risk Scoring
Fraudsters today are creating mass amounts of fake accounts in order to attack consumers and businesses through spam, phishing attacks, promo abuse, and other costly fraud. By carrying out these attacks, fraudsters can damage a brand’s growth, reputation, and value. Companies rely on TeleSign Score to proactively and effectively identify and block these harmful accounts at registration.
Combining access to BICS’ global fraud data with TeleSign’s deep relationships with other mobile network operators, TeleSign Score is able to analyze massive volumes of real-time and historical data on phone number, email, and IP address usage from around the globe. The API then feeds this information into customer-specific machine learning algorithms to provide a risk score and recommended response for each new user.
Unrivalled Global Reach
BICS manages more than 26 billion minutes annually for more than 1,000 communication service providers, including many mobile operators across more than 200 countries globally. The global communication traffic view allows BICS to understand and crowd-source global fraud patterns and leverage them for proactive actions. Combining its size and scale with the global fraud data consortium, BICS has been able to block more than half a billion fraud attempts in the last 5 years.
“At BICS, we understand that proactivity is vital in the fight against fraud,” says Ravish Patel, Senior Product Manager at BICS. “With the addition of our unrivalled global crowdsourced fraud data to TeleSign’s already robust Score API, it’s now easier than ever for companies to distinguish between real and fake users and stop fraud.”
TeleSign Score is customizable by customer, industry or specific use case, enabling companies to proactively identify fraud while streamlining the user experience for legitimate users. The TeleSign Score API is available today around the globe and can be easily embedded into new or existing app-based platforms.