Subex rose 3% to Rs 30.95 after the company was selected by stc to deploy an integrated Revenue Assurance and Fraud Management (iRAFM) solution.
Saudi Telecom Company (stc) is a Saudi Arabia-based digital company that offers telecommunications services, landline, mobile, Internet services, digital enterprise solutions, entertainment, fintech, and computer networks.
"This deal marks another chapter in the long-standing partnership between Subex and stc, through the earlier deployments of ROC Revenue Assurance and an award-winning Fraud Management engagement, which began in 2003," Subex said in a regulatory filing.
stc was looking to consolidate their current Revenue Assurance and Fraud Management technologies to leverage the enhanced feature set that an integrated RAFM solution brings.
The deal will enable stc to have more extensive coverage towards mitigating risks in the digital environment. Leveraging Subex's iRAFM built upon a Hadoop stack, the upgrade will provide stc with the required scalability and flexibility to handle massive volumes of data while lowering the total cost of ownership (TCO).
This will also enable them to achieve higher operational efficiency due to the reduced duplication of data, effort, and maintenance. Further, the unified platform will facilitate seamless communication between the multiple associated solutions stc has in place, hence leading to a greater degree of digital trust.
Subex is a pioneer in enabling Digital Trust for businesses across the globe.
On a year-to-date (YTD) basis, the stock has zoomed 429.66% while the benchmark S&P BSE Sensex added 11.13% during the same period.
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