Apigate, a Global Digital Content Monetization & Messaging ecosystem, today announced the launch of Armour, a new data-based e-solution to tackle the “big five” issues of Direct Carrier Billing: in-app malware, bots, iFraming, suspicious traffic, and backdoor charging.
Analyst reports stated that 90% of South and Southeast Asia’s population access the internet through mobile phones, which means the region is by far home to the world’s most engaged mobile users. Additionally, the region is expected to grow to US$300 billion by 2025, or threefold from US$100 billion in 2019, bringing a higher risk of online fraud as the ”mobile economy” continues to expand.
This is where Armour steps in, once Armour’s fraud detection is deployed, each transaction is checked against hundreds of data points to validate its trustworthiness. This allows for suspicious activities in the digital payment process to be detected and prevented in real-time through a highly tuned Machine Learning algorithm. Furthermore, Armour can continually and automatically refine its ability to detect an ever-increasing range of threats to the digital payment system.
The added benefit of a reduction in digital payment fraud is an increase in customer satisfaction. Since its roll-out with major partners in South and Southeast Asia, results show a significant decrease in customer complaints while at the same time showing a month on month increase in clean transaction rate, bringing a higher & more sustainable conversion rate for Digital merchants.
Raja Mansukhani, Senior Vice President of APAC, said “Armour as a product is a natural progression to cater to the demands of an ever-growing Digital economy which has led to more significant exposure to fraud. Our objective of developing Armour was to limit this threat while removing a frictionful experience for the end customer, leading to a reduction in complaints for Telcos.”