HNC Software, which provides predictive software solutions, is breaking ground in the telecommunications world with its new Telecommunications Fraud Data Consortium, which it said is a first in the industry.
HNC has spent the past year developing a data and fraud consortium to help carriers stop fraud and minimize bad debt by researching, identifying and reporting telecom fraud. According to the Communications Fraud Control Association, fraud costs carriers nearly $15 billion annually. The telecommunications consortium is “an integral part of our next-generation fraud management solution,” added Roger Ahern, HNC’s vice president of strategic marketing and product management.
HNC also announced that Grupo Iusacell, S.A. de C.V., a wireless carrier in Mexico, is the newest member, and first Latin American carrier, to join the Telecommunications Fraud Data Consortium. Iusacell, which is managed and operated by subsidiaries of Verizon Communications Inc., offers cellular service coverage to 69 percent of Mexico.
“We clearly see the benefit of joining this consortium, which validates the need to share both fraud and non-fraud data between carriers to help us all to improve fraud prevention,” said William Roberts, Iusacell’s chief financial officer.
This new consortium is similar to HNC’s flagship product, Falcon, a data consortium that uses HNC software to recognize and investigate patterns of credit-card fraud.
Many of the approximately 100 wireless and wireline carriers HNC provides with solutions like Falcon have verbally committed to the new Telecommunications Fraud Data Consortium, HNC said.
