Telecommunication giants Singtel and M1 have unveiled their collaborative effort to introduce SingVerify, an innovative authentication solution.
The initiative, announced at Singtel’s Future Innovation Centre on March 4, 2024, marks a significant stride in fortifying digital defenses against the escalating threat of scams.
SingVerify stands as a pioneering network-based authentication system tailored for mobile subscribers of Singtel and M1. Leveraging telco application programming interfaces (APIs), SingVerify assures seamless and secure verification processes, adhering to industry standards and protocols outlined by the GSMA.
The partnership heralds a new era in user authentication, wherein telco networks emerge as the primary guardians of digital transactions. With real-time access to telco capabilities via APIs, Singtel and M1 aim to streamline authentication procedures, crucial in navigating the intricacies of the digital landscape.
Ng Tian Chong, CEO of Singtel Singapore, underscored the urgency of combating digital fraud, stating, “Digital fraud is increasing and growing in sophistication, leaving consumers and businesses apprehensive about embracing a digital future.” This sentiment echoes the pressing need for robust cybersecurity measures in an era dominated by digital interactions.
Mustafa Kapasi, COO of M1, echoed similar sentiments, emphasizing the significance of collaborative efforts in safeguarding users and businesses against evolving digital threats. Kapasi expressed confidence in the synergy between Singtel and M1’s network capabilities, envisioning a future where secure and verified digital transactions become the norm.
The agreement, sealed by Lim Seng Kong, Singtel Managing Director Enterprise, and Mark Tan, M1 Chief Enterprise Strategy and Business Officer, signifies a unified commitment towards combating digital fraud. The signing ceremony was attended by industry leaders including Ng Tian Chong and Manjot Singh Mann, M1 CEO.
Image: L-R Lim Seng Kong, Ng Tian Chong, Manjot Singh Mann, Mark Tan
