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Leading global CPaaS provider BICS on its low-friction response to the high risk of theft
Published: November 27, 2023
Simon Wright
Technology Journalist
The bad guys are everywhere – scamming, phishing, and trying to steal data from businesses large and small.
The risks have been raised by the exponential expansion of cloud-powered communications: multiple back doors to multiple channels needing to be closed and bolted wherever possible.
The reality, of course, is that total lockdown is a practical impossibility; however, when it comes to market differentiation, high levels of security are now essential components of any communication provider’s portfolio of solutions.
Communications Platform as a Service (CPaaS) offerings in particular present cyber criminals with opportunity. Direct users and third-party resellers must be sure that platform providers are not only alive to all of the relevant issues, but also deploy the most effective security smarts.
It means picking the right one is key.
“Security is rightly of paramount importance to consumers; however, they also crave a frictionless user experience when carrying out purchases or processes online. Organisations must reinforce the security across the mobile devices a consumer is using, to enhance the customer experience and ensure a seamless interaction,” says Francesco Graziano, Senior Solution Go-To-Market Manager at leading provider BICS, for whom security is constantly top of mind.
“For example, around 50% of the world’s purchases are now conducted via mobile phone so consumers want the seamless experience of receiving the vendor’s one-time password via SMS on that same device. There is a commercial imperative as well as a legal responsibility for enterprises to protect customer data.
“What’s promising, is seeing the likes of Apple adding support for RCS (Rich Communication Services) messaging to the iPhone from 2024. RCS could represent a way for businesses to enhance their security; elevating mobile messaging to richer, more unified conversational experience, whilst fortifying security and mitigating phishing attacks.
“That said, the consumer has a responsibility to take preventative measures too. Education must play a big role in this. The older generation, for example, are more vulnerable to hackers and cyber criminals so brands must take account of that when transacting with that group. The world’s economy is now a digital one so deploying communication platforms with robust security that evolves in line with the threats that are out there is an absolute must.
Every communication channel has unique features that can be leveraged to enhance both security and customer experience, like verified accounts for WhatsApp and Viber, coverage for SMS, or Voice for accessibility.”
It’s certainly true that, today, we should be more worried about our mobile phones than our wallets.
Last year, the average individual financial loss due to online criminality was $9,000. And, for brands, the financial ramifications are huge. Estimates suggest that by 2025, a total of $10 trillion will have been lost due to security breaches such as ransomware, phishing, and cyber attacks.
Clearly, the retail and financial services sectors are most at risk. Recently, BICS has partnered with a European electronic payments platform provider, Bancontact Payconiq, to deliver multi-factor authentication via a dedicated mobile application.
It verifies customers through an SMS code sent to their mobile the first time they log into the app, helping to protect against threats such as account break-ins. BICS’ communications platform and network both power this feature by using “short code” numbers rather than full mobile numbers. Operators and consumers typically trust these numbers more since mobile operators must approve them beforehand, making them mostly unavailable to scammers.
A spokesman for the platform provider said: “The app means our customers get the same reliable payments but with a more user-friendly experience. Customer security is always a priority, and these processes need to be reliable and seamless. It’s why we selected BICS. They are proven and trusted in the communications space.”
BICS’ Vice President of Enterprise Market Divya Ghai Wakankar said: “Modern enterprises need reliable communications now more than ever for supporting areas such as marketing, operations, security, and ensuring all-around great customer experiences. We are at the forefront of simplifying things for both parties, and this exciting partnership with a leader in electronic payments is a great achievement to show how far we’re going.”
To learn more about how BICS can help your and your customers’ businesses communicate with customers securely, click here.
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