Singtel and M1 have joined hands to enable network-based authentication for their mobile subscribers through telco application programming interfaces (APIs).
These APIs secure verification processes, adhering to industry standards and protocols set by the Global System for Mobile Communications (GSMA), a global organisation that aims to unify the mobile ecosystem.
The companies will collaborate to federate a suite of APIs that will enable enterprises to access real-time telco network data for authentication and fraud detection.
M1's chief operating officer, Mustafa Kapasi said, "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."
Singtel has launched a new suite of solutions - SingVerify to authenticate digital identities at the service provider's backend, reducing opportunities for scammers to override two-factor or multi-factor authentication (MFA) processes.
It instantly verifies identity in real-time without any need for login credentials or one-time passwords.
Singtel said this initiative is meant for service providers like e-commerce platforms or banks, which often require customers to verify their identities.
The first of these solutions to be rolled out is Number Verify, which Singtel describes as an application to validate customers' identities by matching their phone numbers with their registered account details on the service provider's platform.
Both telcos will federate the first set of APIs for Number Verify and Device Location.
Additional APIs will be added to SingVerify in the future to “augment service providers’ authentication and fraud detection toolkits”, Singtel said.
Singapore Police Force data show, there have been 50,376 scam cases in 2023 – a 49.6 percent increase compared to 2022.
Phishing scams were a top five scam concern, making up 12.8 percent of all scam cases, police said.
A total of S$651.8 million was lost to scam cases in 2023.
With SingVerify, the company hopes to enable telco networks to secure digital identities as a direct authentication solution.
