Singtel has launched a suite of authentication solutions, namely SingVerify, to protect customer data and mitigate frauds in time.

Service providers, such as 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 consumers’ 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 (APIs) for other verification methods, such as device location, will be added to the suite.

With the initial launch of Number Verify, companies can engage Singtel to verify the identity of the customer by using his/her SIM card and SIM-based data. Companies will be charged for making API calls with Singtel.

Such a verification can thwart certain phishing attempts since authorisation is done between the company and the telco without user intervention. This is unlike the use of SMS one-time passwords, which may be leaked if customers are tricked by scammers.

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The device location API, which is expected to be launched in the second quarter of this year, will allow companies to find the real-time location of a user’s phone based on cell tower data.

Companies can then match such data with an attempted login from another device, such as a laptop, to verify if a login attempt is legitimate, among other use cases.

According to the Singapore Police Force’s 2023 crime statistics, there was a 49.6 per cent year-on-year increase in scam cases to 50,376, with a total of S$651.8 million lost to these scams. Phishing scams made up 12.8 per cent of all scam cases.

On Wednesday, Singtel announced that it has also signed a memorandum of understanding with M1 to enable network-based authentication for both Singtel and M1 mobile subscribers.

Singtel Singapore enterprise managing director Lim Seng Kong said that the company is in talks to implement the solution with other telcos that have yet to participate in the service as well.  

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. 

Currently, Tiger Brokers and mobile authentication provider, IPification, have integrated SingVerify into their existing security frameworks. Users of these services can expect to use SingVerify from the first half of this year.

The introduction of SingVerify comes a year after 21 mobile network operators (MNOs) announced at trade show Mobile World Congress 2023 that they would work together to create common network APIs.

The 21 MNOs – including Asian players such as Singtel, China Mobile and South Korean KT Corporation – represented 45 per cent of mobile connections worldwide at the time.

As at 11.49 am on Wednesday, shares of Singtel : Z74 0% were trading up 0.9 per cent to S$2.33.