The mobile device is often an individual’s primary means of communications and is increasingly used as a method of authentication for financial transactions. Therefore any information that may indicate the telephone number or mobile device may have been compromised is vital in order to protect the individual and their financial service providers.
XConnect is working with industry partners and mobile operators to develop an account takeover protection service that can identify unexpected changes in mobile device behaviour. These changes include:
Some of these services exist in the market today without the knowledge of individuals. This is not consistent with the principles of data protection regulations. Going forward, in order to avoid service misuse and build trust with individuals, it is critically important for the industry to ensure that services comply with global data protection regulations. This is why XConnect is working closely with mobile operators and other partners.
For more information about the threats faced by individuals and enterprises, please see the recent blogs below.
If you would like to learn more about our development timeline or get involved in our early adoption projects please get in touch with our experts.