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Melrose Labs Partners with Phronesis to Protect Businesses from Fraud

September 24, 2020

Helping businesses to fight fraud has become essential as fraudsters increasingly use sophisticated methods for attacks. Melrose Labs, a provider of cloud communication services including fixed-line, mobile, internet, and satellite communications for businesses, is stepping up their efforts to protect customers.

The company recently announced a partnership with Phronesis Technologies, which provides real-time insights into mobile calls to help companies fight fraud.

The goal is to reassure businesses customers are who they say they are so companies feel safe with new account creation and interaction and can have the authentication and verification they need. The company works to combat fraud by verifying that the mobile phone number and identity declared by a customer are accurate.

Now Melrose Labs will add identity verification services to its recently launched voice and messaging services. This builds upon the other existing location and one-time password services they already offer for customers.

"Our new partnership with Phronesis Technologies will allow us to develop new services and enhance our existing offerings,” said Mark Hay, CEO of Melrose Labs.

In addition to providing identity verification for calls, it has also become essential to use these tools to curb fraudulent online transactions. Companies in fintech, IT, retail, utilities, and government can rest assured that the mobile number associated with device analytics and that the name associated with the number matches what was provided by the user.

This is a better method than SMS one-time passwords where a risk of interception is still present. Now businesses can even identify if SIM swapping has occurred and can deny the use of OTP, so there is no fraudulent use of an account.

"Identity verification is becoming increasingly important to companies across several sectors, particularly those where additional layers of verification are essential. In part, this comes from increased online transactions and new regulations around Strong Customer Authentication (SCA). The area of ID verification has seen significant growth over the last few years, and we believe that the services we’re developing will rise above traditional offerings," said Hay.

Edited by Maurice Nagle


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