Globe labs steps up drive against fraud

GLOBE Labs, the developer community of digital lifestyle leader Globe Telecom, is stepping up its drive to combat fraud by offering solutions to help address the connectivity gaps and security challenges in the Philippine banking industry.

This is in response to the growing threat of fraudulent activities such as phishing attacks which often target bank customers who have online accounts.

While usernames and passwords are supposed to be confidential, such sensitive information sometimes fall into the wrong hands, thus, making it imperative for customers to use another form of authentication to thwart unauthorized access to their accounts.

Thus, Globe Labs introduced the Sponsored Access Solutions (SAS) and Telco APIs (application program interface) during the recent Asean Financial Institution Conference (Aseanfic) 2015 at Makati Shangri-la Hotel. The event was organized by SecureMetric Technology Inc. to provide deeper understanding on banking and financial issues and concerns as well as to share technology information that will benefit companies operating in the said field.

Armando L. Encarnacion, Jr., business development manager for Globe Labs, said that through Globe Labs Telco APIs, banks will be able to leverage on additional security layer for customers’ online transactions.

Globe Labs, for instance, can provide one-time passwords (OTPs) that will be sent to the registered mobile phone number to complete the login process. The OTP is unique with every login and expires after a few minutes.