telecom frauds lead to a revenue loss
As IoT’s market grows; the scope for security threat also increases. Innovative threats could emerge that don’t exist today. Recently, the FDA recalled half a million pacemakers because they were vulnerable to attacks. With more IoT devices getting connected to 5G networks, there is an increasing scope for hackers to attack the devices. They could manipulate the devices and create irreversible damage if not monitored and controlled periodically.
Apart from addressing queries, CPaaS can also help improve customer and employee engagement. First, enterprises can integrate it with the CRM, so the customer support team can access the customer’s details. They can see the customer’s details and personalize their responses or, if the opportunity presents itself, cross-sell or upsell new products to them. It also aids the marketing and sales team to create contests, promotional offers, flash sales, etc., and push the communication to the targeted customers through channels of their choice. It can also be used to send reminders for an impending appointment or payment alerts to customers. Some CPaaS solutions also offer reporting capabilities to check if the overall customer engagement campaign was successful. Similar opportunities can be exploited for employee helpdesks and support for greater employee engagement. Experts foresee AI integration with CPaaS in the future to make engagement more agile and powerful.
Recently, the telecom giant T-Mobile reported a security incident that compromised the data of 200,000 customers. A similar incident occurred early last year when Japan’s telecom company Nippon Telegraph & Telephone (NTT) reported that the data of 621 customers from one of their subsidiaries were stolen. The hackers had hacked the multiple security layers of their IT infrastructure to steal the data. Data breaches have become one of the common concerns for telecom operators. A 2020 Global Threat Intelligence Report stated that hackers have been using IoT devices as a common entry point for cyber-attacks. As more businesses and individuals continue to work from home, edge points grow and so does the vulnerability. Telecom operators will have to build robust security architecture to reduce data breaches. They must incorporate data encryption, tokenization, authorized access, and firewalls to safeguard their network infrastructure and prevent data breaches.
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