8×8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center, unified communications and Communications Platform as a Service (CPaaS) platform provider, today announced the 8×8 Omni Shield solution, allowing enterprises to proactively safeguard their customers from fraudulent SMS activity. The new SMS fraud prevention communication API is part of the 8×8 CPaaS portfolio, which helps enterprises drive business growth by integrating various communication channels, including SMS, voice, chat apps, and video interaction, to enhance customer experience.
SMS fraud is the automation of delivery of high-volume, high-cost SMS messages that cybercriminals can monetize by having the messaging charges billed to unsuspecting organizations. According to the Fraud Loss Survey Report 2021 by the Communications Fraud Control Association, fraudulent SMS activity, such as toll or international revenue share fraud, was estimated to have resulted in losses of over $6.7 billion globally in 2021. As the telecommunications industry grapples with significant losses, many SMS providers struggle to have an operational response to fraud. The need for advanced solutions has become increasingly evident, and 8×8 is taking a proactive stance to provide enterprises with the highest level of safeguarding for their customers.
“The impact of SMS fraud, and the toll it takes on both customer experiences and a brand’s reputation, can be astronomical, not to mention incredibly costly. To meet the needs of our customers, we are constantly evolving our 8×8 CPaaS portfolio as we evaluate customer pain points and develop solutions that will deliver substantial business value,” said Stephen Hamill, General Manager, CPaaS at 8×8, Inc. “Delivering a solution that is truly game changing for our customers is our goal, and we are thrilled by early adopter results for our new Omni Shield solution, including an 80% reduction in fraud traffic.”
Emphasizing the importance of 8×8 CPaaS and the new SMS fraud prevention communication API to achieve the highest standards of secure and reliable communication, Kevin Sugiarto, Senior Vice President of Product Strategic Integration at Privy said, ”In an era of evolving digital threats, Privy relies on 8×8 CPaaS and its Omni Shield solution to keep our communication channels safeguarded. It’s not just about preventing fraud; it’s about protecting our brand’s reputation, elevating our services, and delivering unmatched value to our customers. We’re pioneering the establishment of a new standard of security and enhancing our customers’ experiences.”
The 8×8 Omni Shield solution, enriched with pre-built communication APIs, is seamlessly integrated with real-time messaging, across web and mobile applications, and proactively detects and prevents fraudulent activities through automated fraud alerts, real-time notifications, live traffic monitoring, and instant phone number assessments. Benefits include:
- Comprehensive, intelligent monitoring that decreases and blocks most Artificial Inflation of Traffic (AIT) attacks and may reduce monthly messaging expenses that arise from unwanted AIT activity.
- Real-time traffic analysis that tracks, detects and triggers alerts of potential fraud.
- Automatic detection and cancellation of messages from known fraudulent numbers.
8×8 CPaaS, which includes SMS, voice, chat apps, and video interaction, serves as a key enabler of business communications and customer experience in an ever-evolving digital transformation. 8×8 CPaaS is part of the 8×8 XCaaS™ (eXperience Communications as a Service™) integrated cloud contact center, business phone, team chat, video meetings, and SMS platform.
