In the banking sector, ensuring excellence in services entails enjoying maximum security in each transaction, speed during operations and efficiency in the management of the products and services subscribed to. According to Brazil’s National Consumer Secretariat, 260,000 claims related to banking fraud were recorded in 2022, 30% more than in 2021.
Within this context, the implementation of Telefónica Open Gateway’s SIM Swap API by Daycoval, one of the main Brazilian banks, has constituted a significant milestone for the financial institution. By means of this solution the bank not only reinforces its security but also significantly improves its customers’ onboarding experience.
How does Telefónica Open Gateway’s SIM Swap API work and what advantages does it offer?
The SIM Swap API can detect any changes in the SIM cards of its users’ devices. When suspicious movements are identified, the tool proactively analyses these events by using data from the carrier’s network, thus helping to prevent potential fraudulent acts and maintain the integrity of the financial transactions.
This has led to the optimisation of the onboarding processes of large banks such as Daycoval. During the registration and identity verification on the bank’s digital platforms, the tool provides for the detection and prevention of potential identity fraud and fraudulent activity related to SIM card changes. This ensures that customers who sign up for the Daycoval platform can do so more securely. It also optimises the user experience, as it’s a streamlined and simple process for its users.
The tool excels in terms of its simple implementation, allowing developers to seamlessly integrate it into their companies’ applications, thanks to the standardisation with the telecom operators’ services.
Explore Telefónica Open Gateway’s Developer Hub and Partner Program
Daycoval has reinforced its security and that of its customers by integrating this Telefónica Open Gateway API. How can you implement these tools in your company or developments?
Firstly, the Developer Hub provides an experimentation environment for developers wishing to explore the various APIs of the project and validate their ideas and use cases. It also offers exclusive benefits, such as a comprehensive development kit and support during the resolution of queries and incidents throughout the process. Join now and learn more about all the benefits.
On the other hand, you have the Partner Program at your disposal. This programme makes it possible to create and offer new services designed for a wide range of sectors and applications. By leveraging Telefónica Open Gateway’s APIs you can boost business and enrich the customer experience. In addition to exclusive technical content and resources, you will have access to commercial materials and dedicated support every step of the way. Sign up now and start creating.
In the meantime, you can keep track of the latest news and developments at Telefónica Open Gateway by subscribing to our monthly newsletter. This will enable you to find out more about any significant progress made in the project. Don’t miss out on a thing, subscribe now!
