Two Irish technology companies have made significant announcements ahead of the world’s largest mobile industry conference in Barcelona next week.
Dublin-based Xintec, the fraud prevention company, has launched an exclusive service designed to help mobile operators combat a €10bn a year fraud issue.
Xintec’s novel technology, the first of its kind in the world, uses a database of 200,000 test-call numbers to prevent international revenue share fraud.
This type of fraud costs the telecoms industry billions of euro in fraud losses each year as scammers rack up huge bills that telecoms are obliged to pay by connecting them to premium rate numbers.
A report by the Communications Fraud Control Association found a near-500% increase in international revenue share fraud last year, accounting for losses of more than €10.7bn.
“Our business model is built on the premise that we can offer customers solutions to stem fraud and revenue leakages but without the heavy up-front costs of other suppliers ... international revenue share fraud is a constant threat but not something that operators should have to invest large amounts of resources in, and that’s exactly where FraudStrike co mes in,” said Xintec general manager Rob Durran.
A number of major operators have already begun using the service including, Orange and Digicel.
Elsewhere, fellow Dublin company Anam Technologies has secured a multimillion euro investment from Malaysian businessman Tan Sri Mohd Razali Abdul Rahman to help the company’s Asian expansion. Anam has become one of the world’s authorities on the A2P SMS market where text messages are sent to mobile users from web-based applications.
Commenting on the investment and the recent opening of its new office in Kuala Lumpur, Anam chairman Darragh Kelly said: “the potential for Anam in Asia is tremendous and the new regional office in Kuala Lumpur demonstrates our commitment to servicing secured contracts and facilitating future growth”.
The announcements came ahead of Mobile World Congress which takes place in Barcelona next week and which is expected to attract close to 100,000 attendees and see 18 Enterprise Ireland client companies exhibiting.
Among the companies due to be at the exhibition are location-based marketing company, iMob Media; IoT company, Asavie; and data and analytics company Edgetier.
Enterprise Ireland software department manager, John MacNamara said the 18 companies were attracting the attention of major international players.
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