IPification is bringing its mobile phone verification solution to the United Kingdom. The Hong Kong-based company has announced that the one-click solution will debut in the UK in mid-February, once it completes the final stages of its current testing process.
The IPification solution was designed to replace SMS One-Time Passwords. OTPs are often sent as a security measure during online account registration and login procedures, and to authorize select transactions. However, OTPs are both inconvenient and insecure, adding an extra step to the verification process without generating a proportionate safety benefit.
According to IPification, registration dropout rates dropped from 40 to five percent for app businesses that integrated the company’s phone verification solution into their account opening process. The solution is already available in 11 markets, and can be deployed in virtually any industry. For example, IPification believes it will appeal to financial institutions, app developers, and gaming and entertainment companies when it arrives in the UK.
IPification recently partnered with Metfone to strengthen its position in the Cambodian market. The company is now planning to introduce other services in the UK later in the year.
“After launches in the EU, Southeast Asia and LATAM, this marks a new phase in the company’s global operations going forward,” said IPification CEO Stafan Kosti. “We are expecting that, alongside one-click phone verification, IPification will be able to deploy SIM swap detection and device detection solutions in 2021. We know how big a problem fraud attacks are for mobile users in the UK, and together with mobile operators we aim to solve that.”
The SIM swap and device detection solutions could also help combat the high rates of smartphone theft in the United Kingdom.