Nokia Partners with Globe Telecom To Tackle Fraud In Banking With Secure APIs

Nokia Corporation NOK partnered with Globe Telecom, Inc. GTMEF to offer enhanced security for banks and other enterprises using network Application Programming Interfaces (APIs).

Globe Telecom, which is one of the Philippines’ largest telecommunications operators, already employs several Nokia solutions, such as 5G RAN, and is now testing Nokia’s Network Exposure Platform.

This platform aims to expand and simplify the APIs available to the operator and its enterprise partners, enabling the development of security-focused applications.

Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia, stated, “Nokia NEP will help Globe Telecom organize, control, and secure the way its network is integrated into developer ecosystems and platforms, ensuring choice, flexibility, and security in creating new application use cases.”

Joel Agustin, Globe’s Head of Service Planning and Engineering, said, “With cyberattacks on banking services accelerating, it is crucial that we make available the latest network-powered technologies to our enterprise customers and help them safeguard against fraud.”

“We are now at the stage of testing how Nokia’s NEP can support our customers in the banking and enterprise sectors with security verification means to prevent fraudulent transactions.”

Read: Nokia Taps Intel’s AI Executive As New CEO – Details

Notably, Nokia’s Network Exposure Platform (NEP) follows the GSMA Operator Platform standard, offering a unified approach to expose operator capabilities to developers.

Globe Telecom and Nokia contribute to the GSMA Open Gateway and Linux Foundation’s CAMARA initiatives to standardize operator APIs globally.

Since its 2023 launch, Nokia’s platform has expanded to 48 partners, including BT, Orange, Telefonica, and Telecom Argentin and also collaborated with hyperscalers like Google Cloud, CPaaS providers like Infobip, and system integrators such as Global Logic, further strengthening its API ecosystem through the acquisition of Rapid.

Last month, Nokia reported fiscal fourth-quarter net sales growth of 10% year-on-year to 5.98 billion euros ($6.39 billion), beating the consensus estimate of $6.17 billion and comparable EPS was 19 cents (0.15 euros), exceeded the consensus estimate of 13 cents. 

Investors can gain exposure to NOK stock via iShares U.S. Digital Infrastructure and Real Estate ETF IDGT and Hartford Multifactor Developed Markets (ex-US) ETF RODM.

Price Action: NOK shares are up 1.21% at $5.00 premarket at the last check Monday.

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