TeleSign recently announced that it has now released an advanced version of its PhoneID solution for customers across the United Kingdom and Germany. The company is one of the leading service providers of phone-based verification and authentication security solutions for large online companies.
In a release, Craig Whitney, vice president EMEA, said that, "The United Kingdom and Germany are just beginning to see the benefits of using PhoneID as a fraud prevention tool. We have access to global data assets which we convert to actionable intelligence for our customers. This is a real turning point in fraud detection and prevention. This data can be crucial in identifying fraud in many areas including financial services and e-commerce transactions."
The patented PhoneID technology from TeleSign tracks down risky transactions as it has been designed to analyze and report information based on specific attributes associated with a phone number. The technology solution takes into account information such as type of phone used which includes landlines, mobile and also analyses information pertaining to pre and post paid data, VoIP numbers, and information on registration location, among a host of other equally critical attributes.
Since high-risk fraud is typically associated with particular kinds of phone numbers which include anonymous numbers and location-independent telephone numbers, businesses need to protect themselves with advanced intelligence tools which allow them to quickly and accurately flag or block transactions generating from these kinds of phone types.
Most anonymous phone types, which include specific kinds of VoIP and prepaid mobiles, cannot be easily detected; they are used extensively in fraudulent transactions. The upgraded PhoneID data introduced by TeleSign for the U.K. and Germany features advanced detection for these phone types to ensure stringent fraud prevention.