Preventing Financial Fraud with Network APIs
Financial fraud is becoming increasingly sophisticated – driven by the rise of digital payments, mobile devices, and contactless transactions. Attackers are now targeting customers directly through social engineering, rather than breaching institutions themselves.
To counter this, financial institutions need access to real-time intelligence that goes beyond traditional fraud detection systems. Shabodi’s NetAware Aggregator Platform delivers exactly that – by leveraging programmable network APIs across multiple mobile network operators.
Solution Overview
The platform exposes a set of programmable network capabilities that help verify the legitimacy of a transaction in real time.
Financial institutions can use:
- Number verification
Match transactions to the registered mobile device associated with the customer. - Connection status check
Confirm that the device is currently connected to the network during a high-value transaction. - Location correlation
Compare the origin of the transaction with the real-time physical location of the device. - SIM swap detection
Flag potential account compromise by identifying recent unauthorized SIM card replacements.
Business Impact
This use case benefits all participants in the ecosystem:
- Financial institutions reduce fraud-related losses without increasing friction with customers.
- Mobile network operators (MNOs) gain monetization opportunities for their network intelligence.
- API aggregators create sustainable revenue models via secure, scalable platform offerings.
The financial system overall benefits from improved fraud detection infrastructure built at the network layer.
Ready to See It in Action?
Our team can walk you through how programmable network APIs can improve your fraud detection framework.
