Analytics software firm FICO has been engaged by Vodafone, a leading telecommunications company in Europe and Africa, to review new fraud risks and mitigations arising from the accelerated adoption of digital channels due to the pandemic. The FICO Advisors consultancy team will assess Vodafone’s operations across 19 countries and advise on tackling new fraud risks at a country level.
The FICO Advisors team will analyse current fraud controls in areas such as customer identification and authentication, tools and technology, digital strategies, digital processes and fraud loss recording and reporting.
“In the telecom industry, the use of digital channels is growing and replacing traditional sales and service channels,” said Steve Hadaway, Vice President and Managing Director of FICO in EMEA. “With COVID-19, data usage and online transaction volumes have soared, and this is also driving more fraud to migrate to digital channels. We are using our extensive expertise to assist telecommunications organisations around the world.”
“The massive growth in digital engagement has changed business around the world,” said Andy Mayo, senior group fraud manager at Vodafone. “With this study, we plan to probe deeper and learn how we can offer even better protection to our customers. We chose the FICO team because of their expertise and experience in telecommunications, specifically in fraud and digital practices.”