With over one hundred (100) attendees, from twenty-five (25) different communication service providers (CSP), based out of ten different country locations, the first ever WeDo Technologies User Group Americas, held in Miami, Florida was an absolute success.
When asked where CSPs saw their next fraud threats:
- a whooping 40% claimed that Account Takeover (phishing, malware, hacking, etc.) would be their no.1 priority;
- whilst a close 30% identified Content Fraud (media streaming, content bypass) as their main issue;
- over a quarter of the respondents said that they expect Service Hacking (zero-rating fraud, botnets) to become their next biggest threat;
- a small 6% also believe that the stubborn issue of Dealer / Partner Fraud will continue to be a pressing issue in the coming months.
This year we gathered a community of CSPs to discuss an array of issues related with Integrated Risk Management, from the emergence of digital risks and the need for innovative approaches to tackle them (likely to be fueled in the coming years by IoT and 5G deployments), to the growing importance of hybrid fraud and security approaches to ensure protection against increasingly complex attacks.
Fraud and Security, in fact, took a center stage at this years’ edition, with WeDo also showing how it is getting ready to welcome 5G, knowing that this will open a series of new ‘windows’ for fraud and revenue leakage. Multi-party and multi-layer billing, electronic provisioning, network slicing and the need to monitor and comply with complex capacity service level agreements (SLA), are all new sources of risk that will require new and more cohesive risk approaches.
WeDo also revealed its innovative cloud platform, which allows CSPs to ensure a faster fraud protection and to embed a series of WeDo’s new solutions seamlessly into their existing systems.
As per WeDo's Worldwide User Group - held every May, in Portugal - this exclusive telecom community comes together and shares experiences and learnings from each other, from different countries, different communication providers and challenged by, sometimes polar opposite milestones.
With no discrimination whatsoever between who's a customer and who's not and working together with both partners and suppliers, this is a superb platform in managing to speak to each other, to better understand what are the optimal paths to be followed by all CSPs , as it goes through this industrial revolution 4.0.
The WeDo User Group, aka #WUG, seems to do just that, by bringing together the world's best Revenue Assurance and Fraud experts in joint task force mode, earning and sharing thoughts, ideas and past experiences within the wider group.
WUG Americas focused on Fraud and Security issues with the galloping steps of a CSP being 5G ready and the downside to that, as well as the darker side of giving away one's data for 'something for free' and the open windows it leaves for fraud to come right on in and take and use our data as best suits.
As we carry out these knowledge sharing events, we hope to bring awareness and solutions to many more telecom providers. Next stop will be our WUG Asia, held in Kuala Lumpur, Malaysia this coming January.