Singapore’s mobile operators Singtel and M1 have announced a collaboration to enhance security for their customers through network-based authentication.

This initiative leverages standardised communication channels (APIs) set by the GSMA, allowing real-time verification of mobile phone numbers and device locations.

This partnership positions Singapore as one of the first countries to implement such a national-level collaboration. By combining their resources, Singtel and M1 aim to establish a suite of APIs that will empower businesses to verify user identities and detect fraudulent activities effectively.

Initially, the collaboration will focus on “Number Verify” and “Device Location” APIs, with plans to expand the range of available functionalities in the future.

The project adheres to the GSMA Open Gateway framework, a global standard designed to ensure seamless integration and widespread adoption across various mobile networks.

This framework benefits not only service providers but also end users by promoting wider accessibility and faster implementation of security solutions.

It is backed by 39 mobile operator groups worldwide, covering 228 mobile networks and accounting for 64% of global connections, signaling a shift towards more integrated and efficient telecom services.

This move aligns with the introduction of Shared Responsibility Framework (SRF) by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) in response to the rise in scams

Under this framework, financial institutions and telecommunication companies (telcos) may be held accountable for the full losses incurred if they fail to fulfill their prescribed duties in mitigating phishing scams.

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.”

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.”

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• Source: https://fintechnews.sg/89765/security/singtel-and-m1-collaborate-on-national-level-approach-to-combat-digital-fraud/