AWS re:Invent 2025 - Seamless Network-based Fraud Protection for FinTech & Digital Business (SEC216)

Seamless Network-based Fraud Protection for FinTech & Digital Business

Overview of Vonnage

• Vonnage is an end-to-end communications provider that serves over 100,000 enterprise customers across 100+ countries
• Their platform supports 1.7+ million registered developers and is powered by a global team of 2,500+ employees
• Vonnage combines unified communications, contact center capabilities, and a range of communication APIs (voice, video, messaging, social)
• They also offer a suite of next-generation network-powered solutions, including:
  • Mobile identity tools (silent authentication, identity insights)
  • Fraud defense services
  • Location network insights and connectivity experience

The Evolving Fraud Landscape

• Fraud has become "productized" - entire attack chains are packaged as easy-to-use services that anyone can buy
• Criminals no longer need technical skills, they can simply subscribe to services like voice cloning, phishing kits, or SIM swap-as-a-service
• These tools make it simple to launch attacks at massive scale, with the cost to run attacks collapsing
• AI and automation are enabling more attacks, launched faster, and by more people - the barrier to entry has never been lower

The Impact of Fraud

• The average data breach now costs $4.4 million, and nearly 1 in 4 US adults experienced account takeover or fraud in the past year
• Even the most secure organizations can be compromised, as seen with the SEC's Twitter account hack in 2024
• Fraud often starts with a weak link - the phone number, which is relied upon for many customer interactions and authentication

Network-based Fraud Protection

• The mobile network can verify who is on the other end of a phone number, confirming the device is real, the subscriber is authentic, and nothing suspicious is happening
• This network intelligence can block a wide range of threats in real-time, including fake accounts, account takeovers, refund abuse, social engineering, phishing, and more
• The protection layer sits under the business and customers, always on and verifying, without changing the customer experience

Key Capabilities

1. Verify API with Silent Authentication:

   • Network-powered 2FA solution that confirms possession of the phone number directly with the mobile network
   • More secure and reliable than traditional SMS-based OTPs

2. Identity Insights API with SIM Swap:

   • Brings network-level intelligence into fraud and risk models
   • Provides real-time signals about device and subscriber status to strengthen decisions around onboarding, login, and high-value actions

3. Branded Communication:

   • Allows businesses to send trusted, branded messages and calls that are hard to spoof
   • Helps customers recognize legitimate communications, reducing scams and social engineering attempts

Real-world Example: Lydia Neo-bank

• Lydia, a fast-growing European neo-bank, implemented Vonnage's silent authentication solution
• This resulted in a 50% drop in authentication times, giving users a faster and smoother login experience
• Silent authentication also eliminated SMS-based social engineering attacks entirely
• Lydia was able to lower their total cost of ownership compared to their previous solution, while improving conversion rates

Key Takeaways

• Fraud has become industrialized, with attackers leveraging automation and low-cost tools to launch attacks at scale
• Network-based intelligence can provide a seamless layer of fraud protection, verifying identities and blocking threats in real-time without impacting the customer experience
• Vonnage's suite of network-powered solutions, including silent authentication, identity insights, and branded communication, can help businesses strengthen security, improve trust, and optimize costs