IPification is strengthening its position in the Cambodian market. The company will be providing mobile fraud prevention services for the country’s ABA Bank, as part of a deal that builds on its pre-existing relationship with the mobile operator Smart Axiata.
The IPification solution was built to replace SMS one-time password (OTP) security systems. Such systems are vulnerable because the messages can be intercepted, and are inconvenient in the sense that they add friction to the authentication process. ABA Bank agrees with that assessment, and will be using IPification instead of OTPs to register users of its own mobile app.
The service will initially be offered to ABA Mobile users whose devices run on the Smart Axiata network. However, ABA is planning to extend coverage to ABA Mobile customers who subscribe to other operators. The IPification service will go live for Smart Axiata customers before the end of the month.
IPification allows users to verify their identities with a single click. The solution uses IP addresses to confirm a device’s SIM and phone number, and checks to make sure that that device belongs to the person going through the registration process. In doing so, it enables faster logins and encourages more people to take advantage of modern digital services.
“We are excited to expand our strategic partnership with Smart Axiata and become the first Cambodian bank to introduce IPification on our mobile banking app,” said ABA CEO Askhat Azhikhanov. “The Bank will continue bringing the latest developments to the local market, further accelerating digital transformation throughout the country.”
IPification now covers 98 percent of the Cambodian mobile market after partnering with the mobile operator Metfone earlier this year. Since then, the company has started offering phone verification services in the UK market, and has made its way to Switzerland through an alliance with Swisscom.