Called Verify, the tool that fights financial and digital identity fraud will be launched this week under the brand Vivo Empresas.

Vivo has been building its strategy to advance in the B2B segment, with an eye on companies’ demand for cloud, IoT and Big Data services. This week, the operator launches a new solution that attacks a critical point for organizations: security of online transactions. Called Verify, the novelty will be launched under the Vivo Empresas brand and will aim to combat financial and digital identity fraud.

The tool can be used to verify users when making an online purchase, without the need for double authentication. It’s what the company calls “friction-free” security for the consumer. To illustrate, it is possible to draw a parallel with the checks requested when the user accesses a digital service. Usually, a code confirmation is sent by SMS.

“Imagine executing this process without having to type the code, using verification tools that we develop using our database and verifying the number in Vivo’s systems. It’s a frictionless process, and tends to be an advantage for companies , which manage to optimize the purchase journey”, says Diego Aguiar, director of operations at Telefonica Tech, Vivo’s arm focused on innovative solutions in the use of data.

For the company, the advantage is that it reduces barriers in the purchase journey and earns points with customers. Instead of the user spending time doing several checks, the process is automatic, generating agility in checkout and payment. The authentication process is carried out “behind the scenes”, by Vivo itself, whose database reaches 114 million customers.

Another advantage, this time for the user, is that the process makes hacking more difficult. Verify eliminates social engineering loopholes used by criminals to trick people into submitting sensitive data. The premise is that if the client does not need to provide the code, it minimizes the risk of falling for scams.

“It is worth remembering that all these processes respect the LGPD and are carried out in a transparent way”, says Diego, who brings other possible examples to be identified. With the new service, Vivo targets sectors that handle thousands of online transactions, such as the banking system or e-commerce.

services ecosystem
Vivo‘s interest in changing from a telephone operator to a digital services company is the basis of this strategy of new products for companies. So much so that, last year, the company launched Telefonica Tech, which brings together solutions dedicated to cloud, BigData, IoT and cybersecurity. About 100 employees are dedicated only to the IoT and BigData segments.

“We want to complement our connectivity with this new wave of solutions. We have a vision of an ecosystem of services, bold growth goals and we want to transform this market”, says Diego.

According to data from the last quarter, in the last 12 months, revenues from cloud, cybersecurity, IoT, Big Data, sales and rental of IT equipment generated about BRL 2.3 billion in revenues, an increase of 36% compared to the same period in the previous year. This amount represents 5% of Vivo’s total revenue. The company already has 1.5 million customers in the B2B segment.