Enhanced Fraud Detection and Resolution for Lavastorm Analytics Platform

Today sees the launch a raft of additional features for the Lavastorm Analytics Platform, specifically designed for the growing complexity of fraud threats. The expanded Resolution Center and Transaction Warehouse modules provide additional functionality for communication service providers (CSPs) to detect, analyze and prevent new types of complex fraud through a single platform, ensuring that they are on the front foot in the battle against fraud.

With each new service launched by CSPs, new methods of usage-based fraud develop; and most recently these activities are taking the form of social media or SIM card fraud. These new risks place increased demands on analytics platforms, requiring that they cope with exponential increases in data volumes while simultaneously detecting and appropriately responding to a growing range of fraud attempts.

The updates to the Lavastorm Analytics Platform provide an extra layer of customized real-time fraud management, designed to uncover and act on fraud in the communications industry. It enables CSPs to review call detail records and other event data from any data source including switches, billing systems and rating systems through a single interface. The platform also allows workflow and case management to be managed in near real-time through a graphical web-based UI for an extra layer of accessibility.

Drew Rockwell, CEO, MDS commented: “With the rapid pace of the telecoms market today and the ever-evolving fraud threat, businesses need agile and robust systems to be able to share information and identify patterns easily across the business. Speed is of the essence in reacting to fraudulent activity and the updated Lavastorm Analytics Platforms enables businesses to act on accurate, in-depth information faster than ever.

“The new platform easily adapts to changing threats, as well as changes in internal business requirements such as case management priorities and financial goals, enabling users to create and schedule tailored reports across the business, allowing internal teams to easily flag potential threats and share the information easily with other departments that may be affected by similar threat patterns.”