Bangkok, Thailand – TrueBusiness, the enterprise arm of True Corporation, today announced a landmark achievement in Thailand’s digital financial landscape with the commercial launch of the nation’s first Number Verification API. This cutting-edge mobile number identity verification system, developed under the globally recognized GSMA Open Gateway framework, has been rolled out in collaboration with EASY BUY Public Company Limited, a leading provider of personal loan services and the operator of the popular Umay+ card. The partnership is set to significantly enhance the security and user experience for Umay+ customers, enabling seamless and secure authentication for transactions conducted via the Umay+ application on the robust True 5G network.
This pioneering initiative leverages world-class API technology to verify True and dtac mobile numbers directly, streamlining critical transaction processes. These include online application activation, fund transfers, requests for credit limit increases, and cash withdrawals. By automating identity verification, the system fortifies security for every mobile transaction processed through the Umay+ application, moving beyond traditional, often cumbersome, authentication methods. Looking ahead, TrueBusiness is also poised to expand its suite of Mobile Network Open APIs, with plans to introduce a SIM Swap API and a Device Location API. These additions are designed to further bolster the security of financial transactions conducted via mobile devices, offering Thai consumers enhanced protection against the escalating threats posed by sophisticated scammers and fraudsters in an increasingly digital world.
The urgency for such advanced security measures is underscored by alarming statistics regarding financial fraud in Thailand. According to a report from the Royal Thai Police, financial damages attributed to fraud cases reached a staggering 63 billion baht, affecting approximately 540,000 victims between March 1, 2022, and May 31, 2024. This substantial financial loss, accumulated in just over two years, highlights the critical need for concerted, collaborative efforts across all sectors – public and private – to mitigate risks, strengthen preventative measures, and significantly improve the efficiency of fraud detection systems for online transactions. The introduction of the Number Verification API by TrueBusiness and EASY BUY is a direct and proactive response to this pressing challenge.
The Number Verification API represents a significant milestone in True Corporation’s ongoing commitment to elevating its network capabilities. It facilitates full access and interconnection with global standard Mobile Networks Open APIs under the influential GSMA Open Gateway initiative. This groundbreaking innovation allows for seamless authentication using True and dtac mobile numbers for transactions performed on the True 5G network, notably eliminating the need for the often-interceptible SMS One-Time Password (OTP) verification process.
This not only enhances the end-user experience by simplifying mobile transaction processes but also delivers financial services that are both convenient and operate with a significantly higher level of inherent security. The introduction of this new API technology sets a new, more rigorous security benchmark for mobile applications offered by banks, financial institutions, and various businesses across industries, effectively streamlining identity verification processes by removing the complexity and potential vulnerabilities associated with multi-step authentication procedures.
Mr. How Lih Ren, Head of Commercial, Strategy and TelcoTech Partnership at True Corporation Plc., elaborated on the strategic importance of this development. “The successful development of the Number Verification API, which enables seamless network API connectivity aligned with the same global standardized Network Open APIs as other leading network providers worldwide, and its commercial offering for the first time in Thailand, powerfully reflects True Corporation’s capability as Thailand’s leading tech company,” he stated.
“This milestone unequivocally demonstrates our unwavering commitment to elevating our network infrastructure to meet and exceed international standards. We will continue to diligently develop new Network Open Gateway APIs and build a robust, interconnected digital ecosystem. This ecosystem will empower business organizations, as well as software, application, and platform developers, to connect with and effectively utilize the True mobile network, including real-time access and interaction with its functions and data.”
Mr. How further emphasized the collaborative aspect and its broader implications: “The partnership with EASY BUY is not merely about bringing cutting-edge API technology to enhance customers’ experiences, ensuring security and confidence in every online transaction via the Umay+ application on the True 5G network. It is also a crucial driver for advancing Thailand’s telecommunications industry, encouraging the embrace of digital innovations that deliver tangible added value to consumers. Furthermore, this new API supports seamless business expansion globally through universal access to other operators’ Network APIs worldwide, fostering a more interconnected and competitive international digital environment.”
The perspective from the financial services sector was provided by Mr. Nuchai Katkaew, Executive Vice President of Business Planning Department, Customer Service Department, and Operation Center at EASY BUY Plc. “At EASY BUY, as a dedicated financial service provider of the Umay+ card, we prioritize both user experiences and the uncompromising security of financial transactions carried out through the Umay+ application,” Mr. Nuchai affirmed. He highlighted the scale of their operations, stating,
“Currently, we have over 1.5 million active users and process more than 1.5 million transactions per month, with a total transaction value exceeding 2.5 billion baht per month. We acutely recognize that with the rising volume of financial transactions, there comes a correspondingly higher risk of identity fraud and various cyber threats. Therefore, we have continuously focused on raising customers’ awareness through all our channels to protect them from scammers. We have also been proactive in deploying new API technology to enhance security while using our application.”
Detailing the specifics of the collaboration, Mr. Nuchai added, “In collaboration with TrueBusiness, EASY BUY has adopted the cutting-edge Number Verification API technology. This initiative enables an automated, real-time True and dtac mobile number verification process via the True 5G network while users are engaging with the Umay+ application for services including app activation, money transfers, managing personal information, requesting credit limit increases, and making cash withdrawals.
This significantly simplifies transaction processes while ensuring a high degree of security and reliability against fraudulent activities. This milestone marks EASY BUY as Thailand’s first financial service provider to implement Number Verification API technology. This adoption is pivotal in upgrading our security infrastructure, improving service quality, building greater customer confidence, and ultimately strengthening our competitive edge in the demanding financial services industry,” Mr. Nuchai concluded.
TrueBusiness is strategically positioning itself to enable comprehensive access and interconnection with global standard Mobile Networks Open APIs under the GSMA Open Gateway framework. The primary target audience for these advanced API solutions includes banks, financial institutions, and any business organization that requires robust authentication mechanisms for online transactions conducted via mobile devices. The suite of API initiatives is meticulously designed to enhance security standards across the board.
Beyond the newly launched Number Verification API, TrueBusiness is actively developing other critical security-focused APIs:
- SIM Swap API: This API will play a crucial role in verifying the most recent change of a SIM card associated with a mobile number. This ensures that the rightful owner is in possession of the SIM before any critical information or authentication codes are sent to the customer’s mobile number, thereby mitigating risks associated with SIM swap fraud, where criminals hijack a user’s phone number.
- Device Location API: This API will allow for the verification of the geographic location of the device and the SIM card being used for a transaction. This can add another layer of security by cross-referencing the transaction location with the user’s typical behavior or known locations, flagging potentially suspicious activities originating from unusual or high-risk areas.
To ensure that businesses can effectively integrate and leverage these powerful tools, TrueBusiness is also offering expert business consultation services provided by specialists in Mobile Network Open APIs. This consultancy aims to guarantee optimized performance and seamless integration of these APIs into existing business systems and applications, particularly when operating on the True 5G network.
The development and deployment of these Open APIs are indicative of a broader trend in the telecommunications industry, where network capabilities are being increasingly exposed in a secure and standardized manner to third-party developers and businesses. This fosters innovation, allowing for the creation of new services and improved functionalities that can directly benefit consumers and enterprises alike. The GSMA Open Gateway initiative, in particular, is a global project aimed at transforming the way the telecommunications industry designs and delivers new mobile services and immersive technologies. By providing universal access to operator networks, it seeks to make it easier for developers to reach a vast global market and create services that can work seamlessly across different networks.
The collaboration between TrueBusiness and EASY BUY serves as a compelling case study for how telecommunication companies and financial service providers can work together to address pressing societal issues like financial fraud while simultaneously enhancing customer value. For consumers, the shift away from SMS OTPs towards direct network verification means a smoother, faster, and more secure experience when conducting mobile financial transactions. This reduction in friction can lead to increased adoption and usage of digital financial services, contributing to Thailand’s broader goals of a cashless society and a more inclusive digital economy.
For the financial industry, the availability of such APIs from telcos like True provides a powerful new toolkit for fraud prevention and identity management. As financial services become increasingly mobile-centric, the ability to leverage network-level intelligence for security purposes is invaluable. It allows financial institutions to move beyond traditional security measures, which often rely on information that can be compromised (like passwords or even OTPs), towards more robust, context-aware security protocols.
Furthermore, this initiative by TrueBusiness is expected to stimulate further innovation within Thailand’s burgeoning developer community. By offering standardized access to network capabilities, True is empowering developers to build next-generation applications and services that can leverage the unique features of the True 5G network, including its high speed, low latency, and enhanced security features. This can lead to a virtuous cycle of innovation, where new applications drive demand for advanced network services, and advanced network services enable the creation of even more sophisticated applications.
The long-term vision extends beyond just financial services. The principles of secure and seamless identity verification, as well as other functionalities exposed through Open APIs (like location awareness or SIM swap detection), have broad applicability across various sectors, including e-commerce, healthcare, government services, and entertainment. As more businesses embrace digital transformation, the need for reliable and secure ways to interact with customers and manage data will only grow.
True Corporation’s commitment to the GSMA Open Gateway framework and the continuous development of its API portfolio signals its ambition to be a key enabler of Thailand’s digital future. By investing in network infrastructure, fostering partnerships, and supporting the developer ecosystem, True is not only enhancing its own competitive position but also contributing to the overall resilience and dynamism of the Thai digital economy. The successful commercial launch of the Number Verification API with EASY BUY is a significant step in this journey, promising a safer and more convenient digital experience for millions of Thais.
Business organizations, innovative start-ups, and software, applications, and platform developers who are interested in connecting to the Mobile Network Open APIs via the True 5G network and exploring their potential can find more detailed information and resources at the official TrueBusiness website: https://truebusiness.truecorp.co.th/th/solution/truesolutions/trueapis.
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