3 South African Telecommunication Companies want to collaborate to combat fraud. The question is what are they up to? And by the end of the day will their prime objective be achieved? Continue reading to find out more about this development.
South African Telecommunication Companies to Combat Fraud
Cell C, MTN, and Telkom, three major South African mobile operators, have recently joined the GSMA’s Open Gateway programme in a concerted effort to combat fraud and online identity theft.
The Open Gateway programme essentially operates as a superhero squad of network APIs, granting developers universal access to operator networks.
This development enables local telcos to implement critical security measures such as SIM swapping and number verification using universal network APIs. This represents a significant advancement in addressing the surge in digital banking fraud that South Africa witnessed last year, with reported cases increasing by 24% in 2022.
What It Means By Standardizing APIs
By standardizing APIs, mobile operators are equipping themselves with more effective tools to combat cyber threats and safeguard their customers.
It’s worth noting that this initiative extends beyond South Africa; it has gained global traction. Mobile operator groups worldwide, from Norway to Brazil, are coming together under the Open Gateway umbrella to promote interoperability while adhering to technical standards and privacy laws.
In essence, these new APIs serve as secret weapons in the ongoing battle against fraud, with far-reaching implications for industries such as banking, finance, insurance, and beyond. Moreover, they prioritize privacy, a crucial aspect in today’s digital landscape.
CEOs are Enthusiastic About This Development
CEOs across the participating telcos are enthusiastic about this development. Jorge Mendes of Cell C underscores the importance of teamwork, Saad Syed of MTN is excited about the consistent developer experience, and Telkom’s Lunga Siyo is ready to combat digital fraud head-on.
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