Tanla Platforms unveils phishing protection platform Wisely ATP™at Mobile World Congress, Barcelona 2023

Tanla Platforms Limited (NSE: TANLA; BSE:532790), India's leading digital interactions company, today announced the launch of Wisely ATP - an innovative solution for protection against SMS phishing - at Mobile World Congress (MWC) Barcelona 2023. Wisely ATP is a one-stop platform to combat the challenge of SMS phishing comprehensively.

Phishing is a global challenge. With 4.7 billion internet users (nearly 60% of the global population) now spending nearly 7 hours online daily, the global economy continues to digitalize at an increasing rate - and crime is following quickly. According to the Global Anti Scam Alliance (GASA), online scams are now the most common type of crime, amounting to a loss of nearly USD 55 billion per year globally - 96% of Australians claim to have been exposed to an online scam in the last five years; 61% of French claim to have been exposed to "alternative investment offer" phishing attempt; 50% of UK citizens claim to have received a phishing email, SMS or social media message in one month.

India ranks among the largest markets for SMS phishing, with over 6 million citizens scammed annually and an estimated loss of nearly INR 15,000 Cr. The country's growing mobile user base and low SMS rates have led to SMS phishing becoming one of the most prevalent forms of scam. Our analysis shows that over 5 billion SMS phishing attempts are made in India annually.

Despite the magnitude and criticality of the problem, no established solution currently exists to solve the phishing problem end-to-end. Current solutions are reactive, thus - unable to curb the issue comprehensively. Staying true to its track record of developing revolutionary products, Tanla is launching Wisely ATP to combat this issue. This once-in-a-generation product promises to reimagine the safety of digital communication channels.

"Phishing has now become an organized industry: scammers are becoming faster and more sophisticated, consistently finding new ways and clever pretexts to get users to disclose sensitive information. The problem is real. The problem is huge. Now is not the time to experiment. To grow in this digital-first world, it is critical that enterprises urgently take steps to enhance customer safety and build trust. Wisely ATP is a first-of-its-kind revolutionary solution that acts as a single platform to solve the phishing problem end-to-end. It protects the user, disables the scam and eliminates the scammer. It enables brands to always be three steps ahead of the fraudster," said Uday Reddy, Chief Executive Officer, Tanla.

Regulators across the globe are starting to realize the impact of phishing on society and are seeking solutions that can help mitigate this challenge. In India as well, the Telecom Regulatory Authority of India (TRAI) has been closely watching this space. It recently conducted a regulatory sandbox that successfully validated the effectiveness of Wisely ATP.

"TRAI was the first regulator to introduce blockchain-based DLT solution to curb the menace of spam. Tanla had been a key player in providing the solution. Last year, at our 25 years of TRAI celebration - we announced our focus on phishing problem in the country. I thank Tanla for again stepping up to solve this problem. I had an opportunity of seeing the solution today, and I am genuinely amazed by the initial insights. I commend the efforts by Tanla developers and their product team and I'am sure the product will be a major success in India and worldwide," said Dr. P.D. Vaghela, Chairman TRAI.

Shares of Tanla Platforms Limited was last trading in BSE at Rs. 673.90 as compared to the previous close of Rs. 676.05. The total number of shares traded during the day was 31445 in over 1954 trades.

The stock hit an intraday high of Rs. 693.10 and intraday low of 667.00. The net turnover during the day was Rs. 21313682.00.

Source : Equity Bulls

Keywords

TanlaPlatforms INE483C01032 WiselyATP SMSPhishing MobileWorldCongress Barcelona2023