Woah! What a year this was for Team IPification.
Many new partnerships, many new achievements, many lessons learned, and many positive cybersecurity developments globally. We’re thankful for all that.
Most of all, we’re thankful for your support this and the past years. We couldn’t have done it without you. Next year, we promise to be even better and bring even more great security globally!
Before that happens, however, let’s look back and reflect on some of the major things we’ve achieved in 2024.
SingVerify Making Waves in Singapore
Early in the year, we partnered with Singtel, one of Singapore’s biggest mobile network operators, to launch SingVerify, a suite of solutions that authenticates digital identities registered on consumer services or platforms against telco data – a first by a telco in Singapore.
The first of those solutions was Number Verify, an application that validates customers’ identities by matching their phone numbers with their registered account details on the service provider’s platform. Additional APIs such as Device Location and more will be added to the suite in the future to augment service providers’ authentication and fraud detection toolkits.
With this solution, service providers enable a smoother and faster user experience that can be easily integrated into existing user verification or authentication solutions and processes, ensuring no disruption to ongoing services.
SingVerify is also resistant to phishing, helping to put a stop to one of the top five scam concerns in the region where it made up 12.8% of all scam cases. According to the Singapore Police Force, the scam cases in total increased 49.6% in 2023 compared to 2022.
AIS and IPification Deliver Next-Gen Phone Verification to Thailand
Shortly after, the leader in cognitive tech-co and telecommunications services in Thailand, AIS, joined forces with us to deliver our next-generation phone number verification APIs to Thailand.
We’re proud that this partnership has helped mobile app developers in Thailand to provide bank-grade security for their users along with a frictionless user experience.
And then…
IPification Officially A Channel Partner for GSMA Open Gateway
We became an official partner for GSMA Open Gateway, the world’s largest connectivity platform for mobile network operators and mobile developers.
The GSMA Open Gateway Memorandum of Understanding (MoU) is supported by some of the world’s largest and most innovative Mobile Network Operators, representing 65% of mobile connections, thereby unlocking a plethora of new partnership opportunities for IPification.
Together with the CAMARA Project, the GSMA Open Gateway platform gives developers a single point of access to service APIs that include anti-fraud solutions, mobile connectivity, cloud and edge solutions, payment, and carrier billing.
In the case of IPification, telecom operators and mobile app developers can use Identity and Consent Management, Number Verification, Device Identifier, Device Status, Device Swap, SIM swap, Know Your Customer, and Routing API solutions, all of which are designed to boost the security of mobile apps without deteriorating the user experience.
Tiger Brokers and IPification Enhance Security to Elevate User Experience
The leading online trading platform in Singapore, Tiger Brokers has partnered with IPification over the past year to integrate our seamless phone verification solution into Tiger Trade.
Having onboarded the IPification solution, Tiger Brokers can defend against phishing attacks using Telco connection data and providing an added layer of protection for its customers. This partnership also offers a seamless login experience, enhancing both security and user convenience.
Traditionally, customers would log in using a password followed by a second factor, such as Tiger Key or a one-time password. Now, with IPification, that second factor is provided automatically by Telco and IPification’s backend, thereby ensuring a seamless multi-factor authentication process and increased security.
The Inception of the Successful IPification Happy Hour Tour
2024 was the birth year of the great IPification Happy Tour which has since made a splash globally as one of the best new events for industry leaders in mobile security and authentication.
To this day, we have held three of these events, in Phnom Penh, Belgrad, and Jakarta — and we’re making plans for the continuation of the tour in the next year.
We have envisioned these events to provide mobile network operators, fintech and payment companies, eCommerce providers, and banks with a platform to express their needs, explore solutions, and receive direct feedback from IPification’s team of cybersecurity experts.
And we seem to have done well:
“In summary, as part of our commitment to digital transformation, our team is dedicated to exploring emerging technologies that can improve user experience. We have identified the IPification solution as a promising option that can effectively address our current challenges related to SMS delivery and enhance security measures. This aligns with our goal of providing a seamless and secure experience for our users,” said Sokunbopha Heng from the Canadia Bank in Cambodia.
“We have been facing issues on failed OTP SMS deliveries due to Telecom side, and varied OS and keyboard versions as we lock the keyboard for the user to input OTP during the authentication process to prevent fraudulent activities. Having a solution such as IPification that can validate SIM card phone numbers, and especially binding with the device ID, could assist banks in improving the onboarding experience and reduce the drop-off rates. We hope to explore further the solution to make sure that we can achieve both onboarding success rate, and improving security while expenses on the solution can be manageable, reducing SMS costs,” added Vandy Leng, Head of Digital Banking of Cambodia’s Hattha Bank.
“Attending the IPification Happy Hour session in Belgrade was a valuable experience for OTP Bank. As one of the first banks in Serbia to push for the integration of IPification’s solution into our mobile banking activation process, we’ve recognized the necessity for a balance between top-notch security and a seamless user experience. In today’s digital landscape, it’s crucial not to sacrifice one for the other, and IPification has shown that it’s possible to achieve both. I highly recommend this event to anyone looking to explore advanced authentication solutions that keep the end user in mind while tackling real security challenges,” said Bojan Pokrajac, Omnichannel Tribe SCL, OTP Bank, Serbia.
Increased Cybersecurity Globally, SMS OTPs Bans
It’s also been a good year for cybersecurity globally with an increase in SMS OTP bans.
After Malaysian banks in 2023, Hong Kong has followed a similar route. By the end of this year, Hong Kong banks will have adopted device-based authentication instead of SMS OTPs!
This decision came from the Hong Kong Monetary Authority, the Hong Kong Association of Banks, and the Police, after anti-fraud and anti-malware measures were introduced earlier this year, and in light of observing new fraud strategies.
In the following year, we expect to see more countries following suit.
Could 2025 be the end of SMS OTPs? Let’s wait and see!
Focusing on Child Privacy Laws
On a similar note, in the past year, we’ve seen a renewed focus on child privacy and child protection laws. In particular, the Australian government has announced plans for stricter measures and legislation to restrict access to social media and other digital platforms for children and younger adults.
What this age verification process could look like is a question on everyone’s mind, but it doesn’t hurt to reiterate that IPification fits into this puzzle perfectly.
Thanks to mobile network operator data, IPification enables app developers to identify users’ ages. Then, IPification Age Verification sends a signal to the app, flagging any underage users and helping the mobile app developer to stay compliant with the legislation.
By utilizing SIM card, network, and device data, IPification creates a unique Mobile ID key for each user. Best of all, the sensitive data is never actually transferred over the network, ensuring maximum data privacy.
Going into 2025
We’re now just a few days away from 2025 which we’ll proclaim to be the year of mobile security and we’ll raise a glass to that.
We’re thrilled by what we’ve achieved this year and we can’t wait to share more of what’s in store in the next few months. Of course, we couldn’t have been able to accomplish any of this without your support so we’d like to extend our warmest thanks to you.
Happy New Year!
