KYC Solutions For Telecom Companies: Boosting Efficiency and Security with IDMERIT

1. BOOK A DEMO KYC Solutions For Telecom Companies: Boosting Efficiency and Security with IDMERIT Posted on February 23, 2025 by Jay Raol The telecommunications sector is an area of the information and communication technology (ICT) industry that provides global connectivity. The sector has transitioned from voice-centric to data-centric through the adoption of text, email, and video streaming as leading services. Telecom companies are improving their offerings faster and focusing further on facilitating more advanced and simpler digital communication. However, balancing customer acquisition with robust security and regulatory compliance is always challenging for telecom companies. KYC Solutions has aided in addressing these and other challenges that exist in the telecom industry internationally. What Is The Relevance Of KYC Solutions For Telecom Companies? Fraud is rampant in the telecom industry, and it includes but is not limited to SIM card fraud and identity fraud. The telecommunications industry has also recently witnessed various fraudulent activities from large-scale cyberattacks and scam operations. Some of the notable incidents are as follows: Chinese Telecom Fraud:

2. According to the news of OCCRP, In 2024, Chinese authorities reported a significant increase in telecom and cyber fraud cases. In that report, 67,000 individuals were charged, which was 58.5% more than last year’s comparisons. United States Telecommunications Firms Hacking: According to the Wikipedia Article – 2024 United States telecommunications hack, One the Chinese hackers compromised major U.S. telecommunications firms including AT&T, Verizon, Lumen Technologies, and T-Mobile. The breach allowed access to metadata of user’s calls and text messages and affected millions of users, including high-profile political figures. The attackers exploited the vulnerabilities of the telecom company’s system and remained undetected for over a year. SIM Swap Scams: SIM swap scams have become a serious concern for telecom companies globally. Scammers and fraudsters hijack phone numbers illicitly and transfer them on fraudulent SIM cards that allow unauthorized access to personal details and banking messages for one-time passwords (OTPs). As a result, customers have to face financial fraud and scams. These incidents are actually serious alerts for every telecom firm and indicate the significance of KYC solutions in the telecom industry. A robust KYC software or API is imperative to ensure that the genuine customer assists in allotting a SIM card to the legitimate customer. Traditional KYC processes require a lot of paperwork and physical verification. This KYC process takes time, requires the workforce to complete the process and has chances of human error. The digital age has made it simple, where KYC API positive identification can happen in less than 4 seconds. Fast- paced environments do not favour lengthy processes like these. Digital KYC solutions provide a smooth user experience and deliver accurate results instantly. There are various reasons why KYC solutions are imperative for the telecom industry, as they are: Synthetic identity Recognition: Advanced technologies like AI and machine learning-based KYC software authenticate identities precisely and give a red alert for users that use fake and synthetic ID documents with the intent to use fraudulent SIM cards for fraudulent activities such as financial scams and illegal activities. Fraud Prevention: By verifying customer identities, companies can identify fake identities and prevent fraudulent activities before they occur. Customer Trust: KYC Solutions ensures sensitive customer data by using encrypted technology and ensuring data privacy regulations. It builds trust towards telecom companies and ensures their data is safe and secure. Regulatory Compliance: Telecom companies have to comply with KYC compliance to minimize fraudulent activities. KYC services providers ensure KYC regulations and prevent legal procedures as well.

3. Secure Business: Digital KYC solutions help to identify legitimate identities for secure telecom businesses and prevent fraudulent or fake identities. How Does IDMERIT Empower the Telecom Industry? IDMERIT is a global identity verification solutions provider that provides comprehensive solutions according to client’s business needs. IDMERIT streamlines the KYC process by making it faster, more efficient, and more secure for the telecom industry. They provide solutions for ID verification, document verification, age verification, KYC verification, video KYC verification, AML verification, and others. IDMERIT provides an identity verification API for global businesses, including telecom, and stands out from its competitors. There are various reasons behind it, as are: Global Data Access: IDMERIT has 440 plus data resources worldwide to authenticate identities quickly and securely. Easy API Integration: IDMERIT’s KYC API is easy to use and can integrate with any existing system. Multiple ID Types: Their API verifies 580 plus ID types that can empower telecom companies that are operating globally. Liveness Feature: Their IDMScan provide a liveness detection feature and ensures the person is live or not during the onboarding process for telecom firms. Scalability: IDMERIT’s solutions are designed to scale with the needs of telecom companies. If a telecom company onboarding millions of customers, IDMERIT can handle the volume efficiently. Multi-language Support: Their KYC API is multi-language supportive and capable of verifying the identity of all countries. Customer Support: IDMERIT provides customer support if anyone is facing technical issues while using the API. OCR Technology: Their API uses OCR technology to read the information from the image of the ID document and authenticate IDs quickly.

4. Direct Access: IDMERIT has direct access to 2300+ utility providers in 40+ countries to quickly verify an individual’s identity. Compliance Certification: IDMERIT has all major compliance certifications and is active on Privacy Shield. Data Protection: They encrypt sensitive data during transmission via TLS/SSL and, at rest, via AES-256 to ensure data protection regulations. IDMKYX Platform: IDMERIT also provides the IDMKYX platform not only to telecom companies but also to all other financial and non- financial companies for customized identity verification solutions according to business needs. Highest Match Rates: Their API ensures quick identity verification and delivers the highest match results. Conclusion: Efficiency and security are paramount for telecom companies in the competitive market globally. IDMERIT’s robust KYC solutions empower the telecom industry and help to achieve both. Video KYC solutions are a more secure identity verification method for telecom businesses that authenticate identity on a video call and ensure real-time identity verification. IDMERIT’s comprehensive identity verification solutions help telecom companies achieve growth and success. Implementing a suitable KYC solution is not only a compliance measure but a solid investment for any telecom business that wishes to leverage the power of safe operation. IDMERIT empowers telecoms to ensure safety while simultaneously boosting operational efficiency through simplified KYC processes where trust and security are prioritized. Thus, protect your telecom business by adopting a robust identity verification technology that properly prevents fraud by automating identity verification.