The perception of risk in the conventional enterprise-customer paradigm has reached unprecedented levels. Previously, banks, telecom operators, and retailers viewed communication platforms as avenues for enhancing cross- and upselling prospects. However, today, the role of these platforms has evolved significantly.
A digitally savvy populace is increasingly vulnerable to fraudsters armed with sophisticated technologies like Artificial Intelligence and machine learning. In this scenario, Communication Platform as a Service (CPaaS) tools emerge as indispensable assets, bolstering security and trust. While the widespread adoption of mobile banking has fostered financial inclusion, it has also exposed users to a surge in online scams. The lure could be as innocuous as a restaurant discount, a job offer, or a second-hand iPad advertised on an online classifieds portal. For brands, maintaining a comprehensive understanding of their customer journeys is imperative.
Yet, deciphering customer behavior poses a formidable challenge for enterprises. WhatsApp, a coveted platform for customer engagement, witnesses the exchange of 140 billion messages daily. On Twitter, approximately 500 million tweets are posted daily, while Snapchat logs 4 billion. Many brands also rely on SMS, with a staggering trillion messages transmitted worldwide annually, and India stands as the secondlargest market, accounting for 120 billion messages.
REGULATORY OVERSIGHT
This story is from the June 2024 edition of DataQuest.
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This story is from the June 2024 edition of DataQuest.
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