New Revenue Streams

Digital identity solutions provide not only the safer and more confident environment necessary for the wider digital economy to grow: they are themselves a source of considerable revenues for the operators enabling them, and the partner organisations they are designed to benefit.  

The variety of personal data now available on the darknet from users’ digital ‘exhaust’ is driving synthetic identity fraud, where fraudsters create artificial identities for use in fraudulent credit applications. This cost US lenders alone $6 billion in 2016 in lost revenues due to incorrect identification of credit applicants, even with total costs per check rising to $150.  Digital identity solutions making use of information such as operators’ KYC data are estimated to be capable of reducing the cost of these screening checks by up to 70%, and increasing their speed by up to 80%.

Operators are working with a range of ecosystem partners in pioneering new, innovative revenue streams.  For example, many are developing risk scoring propositions based on predictive modelling, using machine learning insights. By assessing factors like the number of devices a SIM is logged into, and behavioural information such as how frequently users appear to request their own information, a risk score is generated which will prompt a bank or service provider to query a risky transaction. The data is handled through hashed MSISDNs so no service provider outside Turkcell can see any raw data on the user beyond a risk score, including Organon Analytics themselves.