Everywhere we look we are constantly reminded that we are living in an increasingly connected world. In 2014 over 1.5 billion smartphone and tablets shipped vs. 308 million portable PCs and desktop PCs. We are getting to the point where the majority of compute power in the world is on smartphones, not computers. Smartphones are now being joined by connected cars, NFC payments, health monitors, and the Internet of Things.
Known fraud in the Communication Service Provider (CSP) market is already a $46 billion industry. What keeps mobile operators awake at night though is new fraud techniques, mutating and evolving faster than systems can catch up with them, and new connected devices that create new possibilities for cyber crime to evolve even more rapidly and profitably.
Argyle Data uses the latest big data and machine learning technology to protect subscribers in this new world from both traditional mobile fraud and future fraud. Protecting subscribers from cyber fraud is a bottom-line, top-line and brand issue. It is now firmly a key part of the CFO, CMO, and Security/Fraud Officer agenda.
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The Argyle Data application runs natively on Hadoop and is delivered either on-premise or in the cloud as a service. The application is designed to discover domestic and roaming fraud, never pay fraud, negative margin fraud, arbitrage fraud, mobile payment fraud, and also revenue analytics. It is set to expand in the new world of IoT abuse and fraud – connected car, connected home, and mHealth. The expert team at Argyle is led by Vikash Varma, President and CEO.
The Machine Learning, Hadoop Approach to Fraud and Revenue Analytics
“When we researched the market, one thing that struck us was that cyber criminal adversaries are out-innovating enterprises – and are doing so because the rewards are so large. It was common to see mobile operators using the same approaches they were using 3 to 5 years ago, but the world of fraud and the level of sophistication has moved on dramatically since then”, says Vikash.
Legacy, pre-big data systems are losing the cyber battle by often not detecting fraud, detecting it in batch after the fraud is complete, or only detecting known old types of fraud while at the same time overwhelming fraud analysts with false positives.
Argyle Data is the only native Hadoop fraud and analytics application in the CIO list of “50 Most Powerful Big Data Vendors 2015”.
Argyle Data sees a shift occurring from:
- Batch to Real-Time
- Files to Files and Deep Packet Inspection
- Thresholds and Rules to Machine Learning and Anomaly Detection
- Silos of Data to a Data Lake of Voice, VoIP, SMS, Data and Business Data
- Expensive Hardware to Commodity Hadoop Clusters
- The Big Data Advantage Strategy
Argyle Data has already proven that big data and machine learning can discover fraud not detected by legacy, pre-big data systems, discover both old and new fraud, discover fraud in minutes vs. days, and dramatically reduce false positives.
Argyle’s strategy is to use their significant big data advantages to establish Argyle Data as the leading Fraud and Revenue Analytics application suite on Hadoop for major CSP’s. They want to establish themselves as the leading Fraud and Revenue Analytics-as-a-Service application suite for smaller mobile operators and Mobile Virtual Network Operators (MVNO’s).