Customer Transaction Monitoring for Financial Businesses

This is another in the irregular series of “it looks like revenue assurance, it smells like revenue assurance, it even tastes like revenue assurance, but it ain’t for telcos.” I find it useful to see analogies between RA in the world of telecoms and similar activities in the rest of the universe. If nothing else, it helps to learn from how others solve related problems in their own industry, as they may have some fresh ideas. It also highlights the potential for revenue assurance to broaden and become a genuinely pan-industrial discipline, and how this might be both an opportunity or a threat to people working in telecoms RA. Take a look at this press release, which is about a vendor that offers monitoring for financial transactions. The question that comes to mind is: if this firm monitors financial transactions in general, and there are plenty of generic financial transactions that are much the same in telcos as other businesses, and telcos are increasingly becoming involved with the financial services market, then is it inevitable that offerings and vendors like this will gain more and more telecoms customers too? Or will vendors who started out focused on telecoms be agile enough and have the scale and expertise to go the other way, winning market share in a generic transaction assurance market?

Eric Priezkalns
Eric Priezkalns
Eric is the Editor of Commsrisk. Look here for more about the history of Commsrisk and the role played by Eric.

Eric is also the Director of the Risk & Assurance Group (RAG), a global association of professionals working in risk management and business assurance for communications providers.

Previously Eric was Director of Risk Management for Qatar Telecom and he has worked with Cable & Wireless, T‑Mobile, Sky, Worldcom and other telcos. He was lead author of Revenue Assurance: Expert Opinions for Communications Providers, published by CRC Press. He is a qualified chartered accountant, with degrees in information systems, and in mathematics and philosophy.