Safaricom has tapped Amdocs, a leading provider of software and services to communications and media companies, to protect its systems against financial fraud.
The giant telco will use revenue assurance technology and expertise from Amdocs to provide more comprehensive and adaptive revenue safeguards for the entire lifecycle of new services across its entire business.
Safaricom, which has sacked 128 employees since 2016 for fraud, has selected a revenue assurance solution from Amdocs, as part of the holistic Operational Risk Management (ORM) portfolio to take a proactive approach to protecting against revenue leakage, preventing leakage before it occurs and correcting it quickly to improve customer adoption and the consumption of new services.
The solution also includes machine learning and advanced analytics to provide Safaricom with greater process automation to reduce operational costs. Amdocs will also provide Safaricom with its industry best practices and expertise in developing optimized business processes for revenue assurance to better enable the launch of new digital services faster while also managing customer adoption and consumption.
The project with Safaricom continues to expand Amdocs’ footprint in Africa to help speed the adoption of digital services in this fast-evolving, dynamic region. As more service providers move into online retail and self-service models and the number of digital transactions per day increases, revenue protection becomes ever more relevant and important.
“In a fast-paced industry, Safaricom needs to continuously innovate and create new products and services for our customers, which means modernizing our procedures and systems for revenue assurance. With our new robust revenue assurance system from Amdocs we can set dynamic thresholds and auto-action mechanisms on alerts to avoid revenue leakage for the life-cycle of our new digital services. By combining this with machine learning, we gain insights on smart new ways to automate processes and thereby have our revenue assurance team spend more time focused on improving the digital customer experience,” said Nicholas Mulila, Director – Risk Management, Safaricom.
READ: EQUITY SCOOPS 22 BANKING AWARDS
“With today’s rapid pace of innovation, service providers like Safaricom are looking for ways to balance the introduction of new digital services in record time and as smoothly as possible while protecting their revenue from unidentified leakage, and ultimately fraud,” said Gary Miles, chief marketing officer of Amdocs. “By integrating cutting edge technology, tools and expertise from Amdocs, Safaricom can now standardise revenue assurance across all lines of its business, while also moving forward with its digital transformation.”
Leave a comment