Sekura.id is thrilled to announce a collaboration with Times Internet, a leading tech entity in India and the digital branch of The Times Group, the premier media conglomerate in the country. This alliance will empower Times Internet to provide a state-of-the-art, password-free mobile identity verification service, thereby enhancing its offerings for some of India’s most distinguished enterprises.
The cornerstone of this collaboration is the SAFr Auth mobile identity solution, a cutting-edge, password-free, and secure technique for user verification that operates seamlessly without the need for manual intervention or multi-factor authentication. Sekura.id boasts the capability to verify an individual’s identity via their mobile phone, eliminating the necessity for 2FA or SMS OTP, thus ensuring a secure, swift, and user-friendly authentication process.
In 2022, Statista revealed that India led the global charts in the prevalence of identity theft cases, with an estimated 27.2 million adults falling victim. This figure starkly contrasts with the United States, which saw around 13.5 million individuals experiencing identity theft in the same period.
According to the 2022 Global Identity and Fraud Report by Experian, over half of the Indian respondents reported encountering fraud on various platforms including social media sites (38%), payment systems (30%), and online gaming portals (30%).
Moreover, Sekura.id is instrumental in processing multi-million transactions for prominent UK banks, global banking institutions, fintech, and various other sectors, identifying a 5-7% incidence rate of recent SIM swaps and/or call forwarding.
Gautam Hazari, the Chief Technology Officer at Sekura.id, expressed his enthusiasm, stating, “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.”
He further added, “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, the Vice President and Business Head at Times Mobile, remarked, “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 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.”
This strategic partnership is poised to leverage the combined strengths of both entities to introduce innovative and unique mobile identity solutions to millions of Indian customers, thereby achieving unparalleled authentication experiences, stringent fraud deterrence, and superior products for its clientele.
