- World’s second global Telco API union, involving telcos from 3 states
- Cooperation may help 45 million users in Thailand &, 12 million in M’sia
Singtel and ASEAN’s leading telcos, AIS and Maxis, have signed two Memoranda of Understandings to allow network-based identification for wireless subscribers in Thailand and Malaysia using SingVerify, a suite of solutions that enables the authentication of digital identities stored on customer services or platforms against company data. SingVerify, a Singtel invention, is based on interoperable and compliant telco application programming interfaces ( APIs ) that adhere to the GSMA’s set of industry standards and protocols.
According to the parties in a statement, this is the first foreign union of Telco APIs to be formed, involving telcos from three different nations working together to enable businesses to gain access to real-time provider system data to improve identification and fight scams.
The general strike price for mobile applications in Asia Pacific is higher than the world average, according to a statement from LexisNexis Risk Solutions, with the majority of attacks being carried out by automated bots that target e-commerce pay transactions.
Ng Tian Chong ( pic ), CEO of Singtel Singapore, said,” The rise of e-commerce in the region has opened more avenues for digital fraud, significantly impacting consumers and businesses. Along with AIS and Maxis, we can overcome this growing online scams and better defend our clients. By tapping into our telco data and social expertise, we will be able to easily confirm, protect, and mitigate economic fraud so our customers across Singapore, Thailand, and Malaysia you enjoy a secure online lifestyle. We will continue to lead the charge against digital fraud and support the recruitment of more MNOs to join the effort to build a more effective defense for everyone.
SingVerify will help reduce the number of unauthorized transactions and account takeovers brought on by phishing and malware app scams. Additionally, it makes the multi-factor authentication process simpler because consumers ‘ digital identities are instantly verified between the telco and service providers. Number Verify, a program that matches customers ‘ phone numbers with their registered account details on the service provider’s platform, and Device Location are the two APIs that will be first federated by AIS and Maxis.
Asnee Wipatawate, head of the Enterprise Telecom Technology Product Department at AIS, said,” This partnership is a significant milestone in our commitment to safeguarding our customers and the digital ecosystem.” We are building a powerful platform that will increase trust and security for businesses and consumers in Thailand, Malaysia, and Singapore by combining our expertise and resources with Singtel and Maxis.
She added that the joint Number Verification API will give organizations and platforms a powerful tool for verifying user identities both regionally and domestically through real-time phone number verification. The API will provide a comprehensive and secure solution to protect against a wide range of fraudulent activities, including account takeovers and phishing attacks, by leveraging the combined strengths of these telcos. The Number Verification API will be available to businesses across multiple industries, including financial services, e-commerce, and online gaming. Businesses can significantly lower the risk of fraud and increase customer trust by incorporating this API into their systems, according to Wipatawate.  ,
Meanwhile, Goh Seow Eng ( pic ), CEO of Maxis, said,” As Malaysia’s leading integrated telco, we provide fast, reliable, and secure connectivity that meets the needs of customers. This partnership allows customers to move forward on their digital transformation journey with peace of mind by protecting them from online threat actors.
These partnerships will benefit 12 million customers in Malaysia and over 45 million in Thailand. In the future, all three telcos will look into ways to federate more APIs.
Singtel and M1 in Singapore have previously signed a MoU to combat the global issue of digital fraud at a national level in Singapore. The federation operates in accordance with the GSMA Open Gateway framework, a recognized initiative that aims to facilitate quick deployment and integration across various mobile networks, giving more service providers and end users the opportunity to benefit from the solution.
The GSMA Open Gateway initiative, which is led by Julian Gorman, the head of Asia Pacific, is a success, says Julian Gorman, head of Asia Pacific.” I’m delighted that three of Asia’s most cutting-edge mobile operators have joined forces to help increase consumer confidence in new digital services across Malaysia, Singapore, and Thailand. Fraudulent attacks can have a significant impact on victims, including financial losses and distress, leading to a decline in trust in digital platforms. It is crucial that mobile operators and digital service developers come together to promote a common approach to fraud prevention wherever they are in the world because cybercriminals operate beyond national borders.