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Safaricom changes strategy to curb fraud

Safaricom last week announced a Sh55.29 Billion profit after tax.

The company has moved to buy new security software from America based Technology firm Amdocs to detect and stem revenue leakages.

In a joint statement, Amdocs and Safaricom PLC said that Safaricom will deploy its “revenue assurance technology and expertise” to provide “more comprehensive and adaptive revenue safeguards for the entire life cycle of new services across its business.

“Safaricom needs to continuously innovate and create new products and services for our customers, which means modernising our procedures and systems for revenue assurance,” said Safaricom Risk Management Director Nicholas Mulila.

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Safaricom, Kenya’s most profitable company, sacked 52 employees suspected of involvement in fraud in the year ended March 2017. The number was 16 more than the 36 it sent home the previous year.

“With our new robust revenue assurance system from Amdocs we can set dynamic thresholds and auto-action mechanisms on alerts to avoid revenue leakage for the life-cycle of our new digital services,” added Mr Mulila.

Amdocs claimed its software uses machine learning services to “detect, correct, prevent and recover” revenue and cost leakages.

“With today’s rapid pace of innovation, service providers like Safaricom are looking for ways to balance the introduction of new digital services in record time and as smoothly as possible while protecting their revenue from unidentified leakage, and ultimately fraud,” said Amdocs chief marketing officer Gary Miles.

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Safaricom said earlier the dismissed employees in the year ended March 2017 were involved in asset misappropriation, fraudulent expense claims and corruption.

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