8x8 has launched an SMS fraud prevention API that protects customers against fraudulent activity.
The new solution, called Omni Shield, proactively detects SMS fraud using automated fraud alerts, real-time notifications, live traffic monitoring, and instant phone number assessments.
Omni Shield is part of the 8x8 CPaaS portfolio, which provides organizations with various communications channels, such as SMS, voice, chat apps, and video, to improve customer experience.
Stephen Hamill, General Manager, CPaaS at 8x8, commented on the release: "The impact of SMS fraud, and the toll it takes on both customer experiences and a brand’s reputation, can be astronomical, not to mention incredibly costly.
"To meet the needs of our customers, we are constantly evolving our 8x8 CPaaS portfolio as we evaluate customer pain points and develop solutions that will deliver substantial business value.
Delivering a solution that is truly game-changing for our customers is our goal, and we are thrilled by early adopter results for our new Omni Shield solution, including an 80% reduction in fraud traffic.
8x8 defines SMS fraud as the automation of the delivery of high-volume, high-cost SMS messages that cybercriminals can monetize by billing messaging charges to unsuspecting businesses.
The Communications Fraud Control Association released its Fraud Loss Survey Report 2021, which found that fraudulent activity, like toll or international revenue share fraud, resulted in estimated losses of $6.7 billion in 2021.
Unfortunately, many SMS providers are struggling to provide an effective operational response to fraud.
Advanced anti-fraud solutions have, therefore, become increasingly necessary, which is where 8x8’s new solution comes in.
Omni Shield Benefits
Omni Shield has pre-built communications APIs and is integrated with real-time messaging across web and mobile applications.
Benefits of the solution include intelligent monitoring, traffic analysis, automatic detection, and message cancellation.
With comprehensive, intelligent monitoring, Artificial Inflation of Traffic (AIT) attacks can be blocked and decreased, plus monthly messaging expenses arising from unwanted AIT activity may be reduced.