As the digital transformation redefines the financial landscape and the world at large, banks are facing new challenges. One is to guarantee the security and privacy of the transactions users make through their platforms. In fact, with the rising rate of telephone scams, banks and telecommunications carriers have teamed up with the Ministry for Digital Transformation to curb fraudulent calls. This reflects just how important this is nowadays.
To safeguard its customers and optimise transaction security, Itaú, the leading bank in the Brazilian market with 70 million customers worldwide, has deployed the SIM Swap API from Telefonica Open Gateway. This integration has bolstered the bank's security measures, verifying the identity of customers and thus reducing the risk of potential crime related to the exchange of SIM cards.
What does the Open Gateway SIM Swap API bring to Itaú's customers?
Itaú Bank, in collaboration with Infobip as aggregator and the main Brazilian carriers, has taken a step towards improving the security and efficiency of its users' transactions by integrating the SIM Swap API from Telefónica Open Gateway.
Now it can detect and manage SIM card swaps more easily and quickly, identifying potential fraud and providing an extra layer of protection for its users. This way, it can react quickly to suspicions and prevent fraud by validating transactions via the device's phone number.
With this integration, Itaú has been able to streamline its operational efficiency, demonstrating a continued commitment to protecting its customers. On the other hand, its users have benefited from a quicker and more secure experience when making a transaction from the bank’s digital version.
Discover the Developer Hub and Partner Program of Telefónica Open Gateway
At Telefónica Open Gateway we developers and companies with two areas: the Developer Hub and the Partner Program.
The Developer Hub is a space for testing out APIs and experimenting with one's own use cases. Throughout the process, developers will be provided with exclusive technical material and resources (whitepapers, webinars, technical documentation, etc.). In addition, technical support is offered throughout the process to resolve possible questions or incidents. Join the Developer Hub to find out all about it!
The Partner Program is focused on enabling companies to optimise their service offerings and improve their customers' user experience, as Itaú has done by integrating the SIM Swap API. It offers tools and contents that pave the way for the integration of the API catalogue into the company’s infrastructure. In addition to exclusive resources or videos, it also offers ongoing technical and business support from Telefónica Open Gateway's team of experts. Sign up for the Partner Program to find out all the details!
