Mobile IP networks and the Internet of Things (IoT) are the biggest fraud and security challenges that communication service providers (CSPs) will face in the coming year, according to a survey conducted by WeDo Technologies.
Conducted at WeDo Technologies’ Annual Worldwide User Group, which was held in Portugal in May 2017, the survey collated the answers of 250 revenue assurance and fraud management professionals from 65 service providers and technology partners from across the world.
When asked about the biggest fraud and security challenge they will face this year, 43% of respondents stated mobile IP networks, followed by 39% identifying IoT as the biggest challenge for the year. Protecting VoLTE (16%) and 5G (2%) rounded out the remaining responses.
At the heart of the major challenges identified in the survey is the digital transformation that CSPs are currently undergoing. As mobile IP networks continue to be rolled out and IoT adoption accelerates, CSPs are contending with managing complex, hybrid network environments, and a greater scale of data. This in turn creates new opportunities for fraudsters to exploit.
“Carriers are increasingly seeing how new digital networks and services are stretching their legacy fraud prevention and revenue assurance solutions beyond their limits,” said Rui Paiva, CEO of WeDo Technologies.
“It is in this environment where we are a strong advocate for cloud-based platforms that can quickly and easily elevate a service provider’s risk management system to meet next generation requirements,” said Paiva.
Among respondents 21% expect a cloud-based solution to be implemented within the next year, where 43% of respondents believe they will have an element of cloud-based risk management within the next two to five years.