London, 4th June 2018 - Resilient plc today is pleased to announce a new service, smartnumbers fraud detection, aimed at reducing the high cost of fraud and ensuring the protection of customer identities. This ground-breaking service, the first of its kind in the UK, reduces a firm’s exposure to telephone fraud and the corresponding damage to revenue and reputation from fraudulent transactions.
According to the UK Fraud Costs Measurement Committee, fraud costs UK firms more than £190bn per year, which is more than the UK government spends on health care. Within the UK financial services sector alone, fraud cost firms an estimated £5.2bn in 2016 with telephone banking fraud increasing by 178% over the prior year.
Ensuring callers are who they claim to be is fundamental to securing an account or transaction, yet authenticating the caller has, until today, been very difficult to establish. Callers may withhold their telephone number, spoof the number of a legitimate caller, use conference-call services to listen in on genuine bank authentication processes or use IP services to mask their identity and behaviour.
With smartnumbers fraud detection, Resilient provides customers with much greater certainty than ever before regarding the identity of the caller. The risk of every call is determined before the call is answered using machine learning to analyse the caller’s behaviour and privileged call signalling data, not available to the contact centre. For example, smartnumbers can detect if the caller is presenting a spoofed CLI while the call is still in the network.
“We are pleased to launch this important new strategic service, providing our customers with greater protection to their revenue and reputation”, says Geoffrey Paterson, Chairman & CEO of Resilient plc. “With more than 300 major financial services customers, this is a potentially game-changing service to give them an upper-hand on fraudsters who until now have been able to easily hide or spoof their identities when transacting on the phone. This service allows our customers to shine a very strong light into the darkness that surrounds identity fraud and reveal the activities of fraudsters even when they are hiding behind compromised or fake telephone numbers.”
About Resilient plc
Resilient plc provides trusted communication services for continuity, compliance and fraud. Its smartnumbers service has been adopted by leading organisations across finance, defence, blue light, legal, insurance, health, pharmaceuticals, automotive, utilities and government. Delivered from the cloud, smartnumbers enable organisations to drive benefits of increased resilience, agility, business efficiency and compliance across their fixed-line, mobile and IP networks. The smartnumbers services are available to purchase from BT, Daisy Group and other major telecoms resellers. For more information, visit www.resilientplc.com
Media Contact at Resilient plc:
Grant White, Senior Marketing Manager
Telephone: +44 (0)20 3162 3454