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Due to the increase in fraudulent contracts, network providers and dealers in the mobile telecommunications sector need to ensure that they are able to perform consistent ID checks in order to avoid being exposed to fraudsters. This has forced many organisations to insist on seeing original proof of ID in order to verify customer identity, causing lengthy delays in the customer sign-up process at significant cost.
There is an increased risk of new customers moving elsewhere — in an industry where churn rates are already at 20%+, acquiring customers is crucial. However, in an industry where fraud can run at levels as high as 5% of turnover, networks and retailers are in danger of spending too much time trying to convert customers who are in fact fraudsters!
URU, based on GB Group's innovative ID3® technology, will validate the ID of an individual at the very start of the engagement.
URU enables network operators and retailers to
To find out how O2 reduced fraud levels across the business without impacting the customer experience, please click here.