Phronesis helps you positively identify new customers, authenticate users and protect all manner of transactions from identity fraud and attacks.
South West, England
Joined July 2018
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'Who is ‘Catlover1966’? How can we be sure they want the service we are about to sell? In the absence of a government ID, companies were forced to find their own metrics for identity. As the mobile market expanded, so did the concept of mobile numbers.'
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💭 The future of KYC will be filled with:
👉 Advanced digital and biometric identity verification
👉 AI and machine learning
👉 blockchain-based solutions
👉 Industry-wide co-operation
Customer experience will always be fundamental.
Book a call: buff.ly/3L3JKvM
🚨 What are the 7 dangers associated with recycled numbers?
👀 Privacy Concerns
Recycled numbers may have had previous owners, compromising the privacy of the intended recipient.
💥 Service Disruption
Confusion and disruption may occur if a recycled number is associated with multiple services.
⛔ Inability to Verify Ownership
Recycled numbers may hinder reliable identity verification, impacting the security of the process.
🧑⚖️ Regulatory Compliance
Sending sensitive information to recycled numbers may violate privacy laws, leading to legal consequences.
Want to easily find out if the numbers you're calling or sending SMS messages to are recycled?
Book a call 👉 buff.ly/3L3JKvM
🤔 How much money does your business waste contacting recycled numbers?
Keeping your #NumberDatabase clean helps you:
💶 Reduce costs
📜 Improve compliance
📱 Gain a competitive edge
📈 Increase operational efficiency
🕙 Reduce downtime
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♻️ Have you ever heard of number recycling?
Number recycling is when the mobile network operators - like EE - take your old unused number, and put it back into the pool of available numbers to go out to new customers.
☎️ So how do I know if our business is calling or sending out information the right person?
Our Number Recycle API can be used to clean out your database, or as a check prior to calling - keeping your customers private information safe, and your databases in date!
Book a demo to see how Number Recycle can save your business time and money.
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The recent report by the Payments System Regulator on Authorised Push Payment (APP) scams has revealed a few crucial insights:
🔁 Reimbursement Performance - TSB, Nationwide, and Barclays lead in full reimbursements, but inconsistencies persist.
🥷 Fraud Rates - Metro Bank, Starling, TSB, and Monzo have high account receiving fraud rates.
🔐 Transparency and Protection: Improved transparency, mandatory reimbursement in 2024, and data sharing are driving change.
Most APP fraud starts online or over the phone and can be caught using crucial behavioural and situational data. Collaboration is key. Preventing APP fraud is a collective effort.
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#APPFraud #Prevention #Transparency #PSR
📱 The mobile channel has become the preferred method for operating online, however, 49% of abandoned transactions are due to friction often associated with passwords and OTPs. Unlike 2FA, Authenticate confirms possession in under two seconds.
Account takeover fraud (ATO) is estimated to cost businesses £21 billion a year. Unlike 2FA, Authenticate is cryptographically secure, making it resistant to ATO, SIM-swap and phishing.
Authenticate provides users with the experience they deserve.
#SilentNetworkAuthentication
✨ Our most recent blog article demystifies the language around seamless forms of #authentication. We take a look at #SilentNetworkAuthentication, a process utilising mobile network data to quickly and safely authenticate customers without using an OTP.
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