SINGTEL has launched a suite of authentication solutions, namely SingVerify, to protect customer data and mitigate frauds in time.
Service providers, like e-commerce platforms or banks, can deploy this solution to mitigate phishing and malware application scams, said the local telco giant on Wednesday (Mar 6).
SingVerify also enables a smoother multifactor authentication process as consumer’s digital identities are verified instantly and directly between the telco, as well as service providers.
“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,” said Singtel, adding that additional application programming interfaces such as device location will be added to the suite.
Ng Tian Chong, chief executive of Singtel Singapore, said that SingVerify eliminates complicated authentication methods but protects consumer data.
“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,” said Ng.
As at 11.49 am on Wednesday, shares of Singtel were trading up 0.9 per cent to S$2.33.
