Jointly developing products using phone verification and real time country location information
TeleSign, a mobile identity company, has announced an agreement with telecoms operator, Telefόnica, to deliver the first in a suite of services to address account security and fraud prevention for enterprises and service providers in financial services, e-commerce, cloud and social media.
These next generation mobile identity solutions will jointly make use of TeleSign’s products and infrastructure, along with Telefόnica’s consent-based Insights, to increase account security, reduce fraud, and improve customer experience for consumers, while helping to manage costs for service providers.
The first products resulting from the partnership are to be focused on using phone verification and real time country location information to help combat fraud and poor customer experience in payment card transactions at home, abroad and online.
With the first commercial services are now available in the UK, with broader availability planned for the second half of 2015, legitimate cardholders will enjoy a swift and secure experience, while fraudsters will be frustrated, thanks to the secure link between TeleSign, Telefόnica and participating financial institutions, the companies stated.
The solution does away with the need for special smartphone apps and works on any mobile device when travelling; once the customer requests the service, it automatically protects them from the minute they switch their phone on, TeleSign and Telefόnica said.
Said Phil Douty, managing director, Telefόnica Dynamic Insights: “With its market leadership and unique technology to secure mobile identity, TeleSign is a natural partner to improve our customers’ experiences, while protecting them from fraud at the same time. The services we are launching together will have meaningful impact for consumers, banks and service providers, and are built on unique data insights only available from mobile network operators. The service will be optional for our customers, requiring consent for data to be used. This means that they remain in control of their data and how it is used.”
Added Steve Jillings, CEO TeleSign: “Telefόnica has a strong history of innovation amongst mobile operators for delivering new services which benefit their subscribers. TeleSign is excited to join with Telefόnica to bring offerings to market that respect user privacy and make it easier for individuals to assert their identity in a simple and reliable manner.”