Aspect Software has strengthened its commitment to its work in banking fraud prevention and mobile banking, by becoming a service provider member of the GSMA.
Representing the interests of mobile network operators worldwide, the GSMA connects hundreds of stakeholders within the mobile ecosystem to contribute to shaping the future of mobile communications worldwide.
With a focus on mobile and in particular a frictionless and secure mobile banking customer experience, Aspect’s fast-growing digital identity division has already secured over 150-million transactions to date and saved millions of pounds per annum in fraud losses. Its trust platform, Aspect Verify, identifies, prevents, and notifies users of fraudulent transactions, and is currently in use at many financial institutions to tackle growing types of fraud such as SIM Swap.
Aspect Verify helps users create a secure, frictionless customer experience ensuring their customers’ satisfaction at minimum risk, including managing the on-going communication with customers once fraud has been detected.
Mobile digital identity remains one of Aspect’s key focuses for the future, as the company continues to invest in expert resources and technical infrastructure to deepen its expertise and technology offerings.
By becoming a GSMA member, Aspect brings its expertise to the community and aims to raise awareness of the need for continued work in mobile digital identity and fraud prevention, according to Keiron Dalton, global program senior director at Aspect Verify.
He says: “In joining the GSMA, Aspect operates from a position of strength within the market and operator community; we bring both a unique perspective of existing insight, as well as tangible results. Not only does our Aspect Verify trust platform have a natural fit with operator data, but we are now encouraged that the GSMA is looking to establish a standards-based approach towards both securing mobile transactions, and working towards a frictionless mobile banking experience.
“There is still so much to learn – fraudsters stop for no-one, and as more and more communications channels increase in usage, we create more and more in-roads for criminal activity, especially via mobile means. Being a part of the mobile community enables collaboration, knowledge-sharing and the raising of awareness to ensure our number one priority remains protecting the customer,” Dalton adds.
“We are looking forward to leveraging our partnerships within the GSMA to influence the operator community as a service provider, as well as signal our intent on being part of the mobile ecosystem.”