Sekura.id is excited to declare its strategic alliance with Times Internet, a titan in India’s technology arena and the digital subsidiary of The Times Group, the country’s most expansive media powerhouse. This strategic move is poised to furnish Times Internet with the capability to deploy a cutting-edge, passwordless mobile identity verification service, thereby refining its offerings for the crème de la crème of India’s enterprises.
Central to this alliance is the SAFr Auth mobile identity solution, an avant-garde, passwordless, and secure method for user authentication that negates the need for manual intervention or multi-factor authentication. With Sekura.id’s technology, a user can be authenticated through their mobile device, sidestepping the requirement for 2FA or SMS OTP, thus ensuring a secure, efficient, and hassle-free authentication process.
According to Statista’s 2022 findings, India was at the forefront of identity theft incidents globally, with an estimated 27.2 million adults impacted. This starkly contrasts with the United States, where approximately 13.5 million individuals faced identity theft in the same timeframe.
As per the 2022 Global Identity and Fraud Report by Experian, more than half of Indian respondents reported experiencing fraud across various platforms, including social media (38%), payment systems (30%), and online gaming (30%).
Additionally, Sekura.id is integral in handling multi-million transactions for premier tier-1 banks in the UK, global banking institutions, fintech companies, and other sectors, detecting a 5-7% occurrence of recent SIM swaps and/or call forwarding.
Gautam Hazari, CTO at Sekura.id, expressed his excitement, 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 also noted, “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 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 partnership between Sekura.id and Times Internet is set to leverage their collective prowess to introduce ground-breaking, unparalleled mobile identity solutions to millions of Indian consumers, thus achieving superior ‘humanised’ authentication processes, effective fraud mitigation, and enhanced product offerings for its users.