Mobile operators / Telecom
Online Onboarding for Prepaid SIM Users: Streamlined Experience, Cost Savings, and Enhanced Compliance
Telcos have also started exploring the concept of online onboarding of new prepaid SIM users as a means of saving costs, onboarding time and overall making their entire experience more customer-friendly.
Mandatory registration of prepaid SIM cards is a global practice, but identity verification methods differ significantly across countries. Consequently, mobile network operators (MNOs) and mobile virtual network operators (MVNOs) licensed in specific countries may encounter diverse proof-of-identity requirements, resulting in variable investments necessary to comply with each nation's mandatory SIM registration rules.
- Capture and store
Under this model, MNOs are required to collect and record a user’s personal information and proof- of-identity documentation.
They are also obligated to share their customers' complete or partial registration details with the government upon request (usually through a warrant).
Currently the most commonly used approach to SIM registration, with 80 percent of countries using it.
- Capture and share
In addition to capturing basic information and maintaining a record of their registered customers, MNOs must proactively share full or partial user profiles with the government.
Only seven per cent of countries enforce such a approach.
- Capture and validate
MNOs are required to validate a customer’s identification credentials against a central government database.
Such capabilities typically do not allow MNOs access to additional consumer personal information held by government, but solely enables operators to query a customer’s identification credential against the database and receive an affirmative or negative response.
This would lead to a successful or rejected registration. 13 per cent of countries follow this approach.
- Digitalization of customer onboarding
A completely digital onboarding process provides advantages like saving costs, shortening onboarding time, and improving the customer experience. This approach eliminates manual verification and paper documents, resulting in a faster and more user-friendly process for customers.
- Fraud prevention
There is a high risk of sim card fraud is a growing concern for many telecom operators across the globe.
SIM swap fraud happens when a criminal deceives a telecom company into transferring the victim's mobile number to a SIM card under the attacker's control. By impersonating the victim and providing false information, they persuade the telecom company to perform the swap. When the attacker takes control of the target's phone number, they can intercept SMS-based two-factor authentication codes and access online accounts. Furthermore, they might engage in unauthorized calls and text messages, potentially leading to financial losses for the target.
- Data privacy
Finchecker helps to ensure that you are collecting, storing, and using customer data in a compliant and secure manner. This requires adherence to data privacy regulations such as GDPR.
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