Sekura.id, a leading provider of secure mobile identity solutions, has partnered with Times Internet, a prominent technology company, and the digital arm of The Times Group, India’s largest media conglomerate. This collaboration aims to provide a secure, passwordless mobile identity authentication service, enhancing Times Internet’s offerings for India’s leading enterprises.
The cornerstone of this partnership is SAFr Auth, Sekura.id’s robust, passwordless, and secure method of authenticating users without the need for intervention or multi-factor authentication. With SAFr Auth, users can be authenticated via their phone without requiring 2FA or SMS OTP, ensuring a secure, fast, and convenient authentication process.
Addressing India’s Identity Theft Challenges
India has faced significant challenges with identity theft, ranking highest among researched countries worldwide for identity theft cases in 2022. According to Statista, an estimated 27.2 million adults in India were victims of identity theft, highlighting the urgent need for robust authentication solutions.
Sekura.id’s expertise in processing millions of transactions for tier-1 UK banks, international banks, fintech institutions, and various verticals positions it as a key player in fraud prevention. The company’s platform detects between 5-7% of recent SIM swap and/or call divert incidents, underscoring the critical role it plays in combating fraud.
Driving Innovation in User Authentication
Gautam Hazari, CTO of Sekura.id said, Gautam Hazari, CTO of Sekura.id, said, “We are delighted to partner with Times Mobile in Times Internet, one of India’s most respected companies. This partnership will enable the delivery of innovative solutions like SAFr Auth to protect the digital life of Indian consumers in the most inclusive way using the superpower of the SIM. In this challenging time of Generative AI-driven deepfakes, this partnership allows Times Internet and Sekura.id to deliver better conversion for businesses by reducing friction and enhancing security through the market-leading platform, SAFr, as well as innovative products and services, which have touched 2.5 billion humans worldwide for the last three years.”
Nitin Chowdhary, Vice President and Business Head of Times Mobile underscored the significance of user identity authentication, especially in sectors like banking, e-commerce, and digital payments. He said, “User identity authentication is a critical use case for verticals such as banking, e-commerce, and digital payments. Some media reports indicate at least ₹300 Crore of financial loss due to identity theft in FY23 alone. The recent press release from the Reserve Bank of India highlights the need for more authentication solutions than SMS-OTP to address some of the concerns. Times Mobile is very happy to bring Sekura.id’s solutions to India to address these issues.”
Empowering Indian Consumers with Secure Authentication
By leveraging the strengths of both companies, the partnership between Sekura.id and Times Internet aims to deliver innovative mobile identity products and services to millions of Indian customers. This collaboration promises next-level ‘humanized’ authentications, robust fraud prevention, and enhanced products tailored to meet the evolving needs of Indian consumers.
Through SAFr Auth and other innovative solutions, Times Internet is poised to enhance user authentication experiences, safeguarding the digital identities of Indian consumers and driving the adoption of secure authentication practices across various sectors.
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