Subex and Swisscom awarded the Global Telecoms Business Innovation Award 2011 for industry’s first Risk Reward Sharing Model
LONDON, UK – Subex Ltd, a leading global provider of operations and business support systems (OSS/BSS) for communications service providers, announced today that Subex and Swisscom have been awarded the Global Telecoms Business Innovation Award 2011 in the Business Service Innovation category, for work done with operator Swisscom on the Risk Reward Share Model for Fraud Management.
This is the first successful, working example of a Risk/Reward Share (RRS) commercial model for telecoms fraud management. The programme between Swisscom and Subex has been running for two years and Subex was awarded the internal Swisscom “Supplier Award for Innovation” in 2010.
For Swisscom, this model has been successful to ensure optimal performance of the fraud management function by aligning Subex’s interests as a supplier with its own interests as an operator as well as reducing its systems’ CAPEX costs by paying the cost of the fraud solution using the funds saved from prevented fraud losses. For Subex, the success of the model demonstrates its willingness to ensure that the customer gets the desired business outcome from the deployment of the solution as well as being able to directly build on the jointly gained experience while operating the system for the future development of the solution.
Kurt Meyer, Chief Risk Officer, Swisscom (Switzerland) Ltd said “In Subex we have found a partner who will help us address the next level of fraud management challenges successfully and we hope to provide a stimulus to the industry as a whole.”
“We are very pleased that all our willingness to work on this unique model with Swisscom because of the close partnering between the parties has paid off. This reinforces our strong commitment towards our customers and is testament of our core value of continuous innovation to keep up with the changing needs of the industry,” said Sudeesh Yezhuvath, Chief Operating Officer of Subex.
He further added, “This low CAPEX model means that operators of all sizes will be able to afford highly effective fraud systems and we expect new business as more service providers are expected to adopt this model.”