Singtel and M1 Collaborate on National-Level Approach to Combat Digital Fraud

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Singapore’s mobile operators Singtel and M1 person announced a collaboration to heighten information for their customers done network-based authentication.

This inaugural leverages standardised connection channels (APIs) group by nan GSMA, allowing real-time verification of mobile telephone numbers and instrumentality locations.

This business positions Singapore arsenic 1 of nan first countries to instrumentality specified a national-level collaboration. By combining their resources, Singtel and M1 purpose to found a suite of APIs that will empower businesses to verify personification identities and observe fraudulent activities effectively.

Initially, nan collaboration will attraction connected “Number Verify” and “Device Location” APIs, pinch plans to grow nan scope of disposable functionalities successful nan future.

The task adheres to nan GSMA Open Gateway framework, a world modular designed to guarantee seamless integration and wide take crossed various mobile networks.

This model benefits not only work providers but besides extremity users by promoting wider accessibility and faster implementation of information solutions.

It is backed by 39 mobile usability groups worldwide, covering 228 mobile networks and accounting for 64% of world connections, signaling a displacement towards much integrated and businesslike telecom services.

This move aligns pinch nan preamble of Shared Responsibility Framework (SRF) by nan Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) successful consequence to nan emergence successful scams

Under this framework, financial institutions and telecommunication companies (telcos) whitethorn beryllium held accountable for nan afloat losses incurred if they neglect to fulfill their prescribed duties successful mitigating phishing scams.

Ng Tian Chong

Ng Tian Chong

Ng Tian Chong, Chief Executive Officer, Singtel Singapore said,

“Digital fraud is expanding and increasing successful sophistication, leaving consumers and businesses apprehensive astir embracing a integer future. Solving this isn’t thing that tin beryllium done alone.

We’re gladsome to person a like-minded partner for illustration M1, who understands nan request to subordinate forces to combat this world problem astatine a nationalist level. This federation is simply a measurement successful nan correct direction, and we promote different telcos to travel onboard. We’re assured that together, we tin thief mitigate fraud successful real-time, and safeguard Singapore and Singaporeans from further attacks.”

Mustafa Kapasi

Mustafa Kapasi

Mustafa Kapasi, Chief Operating Officer of M1 said,

“This collaboration pinch Singtel goes beyond a specified partnership, it is simply a decisive move to safeguard users and businesses against evolving integer threats.

By federating APIs and leveraging nan synergies successful our web capabilities, we will connection some enterprises and consumers entree to much unafraid and verified integer transactions.”

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Source Fintech