Singtel and M1 have announced the signing of a Memorandum of Understanding (MoU) to enable network-based authentication for Singtel and M1 mobile subscribers through telco application programming interfaces (APIs), which are interoperable and based on a common framework of industry standards and protocols set by the GSMA.
With on-demand and secure access to telco capabilities through APIs, telco networks will become a direct authentication solution, expediting the user authentication experience that is critical in a digital age.
The two telcos will work together to federate a suite of APIs that will enable enterprises to access real-time telco network data for authentication and fraud detection.
The first set of APIs to be federated is Number Verify and Device Location. As part of the agreement, both telcos will work together to federate more APIs in the future.
Mr Ng Tian Chong, Chief Executive Officer, Singtel Singapore said, “Digital fraud is increasing and growing in sophistication, leaving consumers and businesses apprehensive about embracing a digital future. Solving this isn’t something that can be done alone. We’re glad to have a like-minded partner like M1, who understands the need to join forces to combat this global problem at a national level. This federation is a step in the right direction, and we encourage other telcos to come onboard. We’re confident that together, we can help mitigate fraud in real-time, and safeguard Singapore and Singaporeans from further attacks.”
Mr Mustafa Kapasi, Chief Operating Officer of M1 said, “This collaboration with Singtel goes beyond a mere partnership, it is a decisive move to safeguard users and businesses against evolving digital threats. By federating APIs and leveraging the synergies in our network capabilities, we will offer both enterprises and consumers access to more secure and verified digital transactions. M1 is committed to improving the security of transactions, enhancing user experience and ensuring a secure and resilient digital future for all.”
The agreement between both companies was inked by Mr Lim Seng Kong, Singtel Managing Director Enterprise and Mr Mark Tan, M1 Chief Enterprise Strategy and Business Officer at Singtel’s Future Innovation Centre on the 4 March 2024, which was witnessed by Mr Ng Tian Chong, Singtel Singapore CEO, and Mr Manjot Singh Mann, M1 CEO.
Singtel launches authentication solution, SingVerify, to curb rising scams
Singtel also announced the launch of SingVerify, a suite of solutions that authenticates digital identities registered on consumer services or platforms against telco data – a first by a telco in Singapore.
The first solution from the suite to be launched is Number Verify, an application that validates customers’ identities by matching their phone numbers with their registered account details on the service provider’s platform.
Additional APIs such as Device Location and more will be added to the suite in the future to augment service providers’ authentication and fraud detection toolkits.
Mr Ng Tian Chong, Chief Executive Officer, Singtel Singapore said, “Phishing scams continue to impact many innocent people. In today’s digital economy, technology is pervasive, and we’d like our customers to be able to enjoy the benefits of a digital lifestyle safely. That’s why we launched SingVerify – a game-changing solution that’s eliminating complicated authentication methods yet protecting consumers. By designing SingVerify according to the GSMA’s framework, this solution can be easily deployed by any service provider. We’re confident that SingVerify will play a critical role in mitigating fraud in real-time, safeguarding critical customer data, and preventing potential financial losses for many consumers.”
Mr Alex Sinclair, Chief Technology Officer at the GSMA, said: “Criminal gangs are exploiting new digital vulnerabilities globally, regardless of national borders. This means we can only fully tackle digital fraud by working together as a technology community to share knowledge and design innovative digital solutions that work universally, wherever you are in the world. I’m delighted to see Singtel launching new digital fraud solutions that take this approach and embrace the open and interoperable nature of the global GSMA Open Gateway framework.”
Thorough authentication solution for service providers
With SingVerify, service providers will be able to validate customers’ identities – matching customers’ phone numbers registered with a service provider against real-time information telco’s data, helping service providers authenticate their customer’s identity securely and seamlessly.
This involves authenticating a user’s identity during processes such as login or password resets, digital payments or transfers across a range of services like banking, social media, ride shares, mobile wallets. Authentication is conducted in the background, significantly reducing the opportunities for scammers to take over the two-factor authentication (2FA) or multi-factor authentication (MFA) process.
Early adopters joining the fight against scams in Singapore
All-in-one trading platform, Tiger Brokers, and mobile authentication provider, IPification, have integrated SingVerify into their existing security frameworks – bolstering their existing authentication security measures and enabling more efficient verification processes.
Users of these services can expect to benefit from the first half of 2024.
Mr Felix Huang, Head of Global Solutions at Tiger Brokers, said: “Tiger Brokers is constantly on the lookout for enhancements to serve our clients better. With the pervasive use of mobile authentication, it’s imperative to bolster our defences. Which is why we’re excited to be adding SingVerify to our slew of security measures – to support our enhanced secure customer service experiences.”
Mr Stefan Kostic, CEO at IPification, said: “We’re hyper-aware that digital fraud has been rapidly increasing globally, and digital platforms are particularly targeted, especially when relying on passwords to protect their users. Our mission has always been to protect consumers without introducing any additional friction to their user experience. By partnering with Singtel, we are delighted to bring seamless authentication solutions such as SingVerify to businesses including Tiger Brokers and their customers in Singapore.”
