07 Dec 2021
VEON Rolls Out New Industry Standard for Digital Identity Validation Amsterdam, 7th December 2021 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announces the global launch of its MobileID initiative, an authentication, credentials management and permission control system that will safeguard consumers and protect retail companies. VEON intends to roll out MobileID to its 212 million customers across nine countries as well as offering it as the standard for mobile operators worldwide to provide digital identity validation that is fully compliant with local data privacy laws.
Digital identity is one of the great challenges of our time, states Kaan Terzio lu, CEO of the VEON Group. To date, the world has struggled with the competing forces of wanting to make the consumer experience more seamless, while decreasing the risk of online fraud. MobileID will enable mobile operators to be the trusted authority for both consumers and retailers with the reassurance that the operator is based in their home country and licensed by local data protection laws.
Incorporating the GSMA's Mobile Connect standard, MobileID enables safe and secure determination of customer identity for both online and physical locations. For consumers, the service delivers a streamlined customer experience without the need to remember passwords, a universal login at physical and online locations, and SIM-card based implementation that enables MobileID to work on any device, including feature phones.
Consumers will also benefit from the autofill of information on online channels and at physical locations, for items such as credit applications, while the Permission Centre module will enable customers to manage and control permissions previously granted to service providers. For online retailers, the sharing of customer attributes and knowledge of their physical location reduces operational fraud and enables the inclusion of credit rating information. The MobileID service enabled conversion rates are up to two times higher for retailers along with an 80% faster service registration process, while delivering an easier and faster customer journey.
The roll out of MobileID follows extensive trials in Russia with VEON's Beeline mobile operator in partnership with other Russian mobile operators. The nine-month trial deployment saw over 1.2 million monthly active users subscribe to MobileID to authenticate their digital persona with 36 major online service providers and merchants, including AliExpress, Alfa-Bank, Alfa Insurance, Sheremetievo Airport, and Raiffeisen Bank.
Following the successful conclusion of other trials in Russia, MobileID will be deployed across all VEON mobile operators with its roll-out beginning in Uzbekistan and Kazakhstan.
It is the right time for the mobile telecommunications industry to implement a new industry standard for digital identity validation. For both consumers and retailers, MobileID could replace the authentication services currently offered by social networks that are often susceptible to fraud and lack the checks on the true identity of the digital persona, explains Kaan Terzio lu, CEO of the VEON Group. Our newly introduced Permission Centre solution also puts consumers in control of their personal data and enables them to manage and control permissions that were previously granted to mobile service providers.
The operation of MobileID is securely managed with all customer data stored at Class 3/Class 4 Data Centres that are operated by national telecommunications operators in compliance with local data privacy laws. The seamless integration with customer SIM cards delivers an additional level of security and customer protection and personal customer data is always encrypted with the RSA Asymmetric algorithm. Additional levels of security, such as PIN-based validation, is supported for highly sensitive transactions. In accordance with local regulations, customer personal data will stay within a country's geographical borders.
For major retailers and financial institutions, a full portfolio of software tools and APIs are available to customise MobileID and integrate it into specific applications. National and global interoperability is also assured as MobileID incorporates the GSMA-endorsed Global Standard (Mobile Connect). The service is fully end-to-end monitored through network operating centres with service level agreements and disaster recovery policies in place.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. For more information, visit: https://www.veon.com
Disclaimer
This release contains forward-looking statements, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding the roll out of MobileID. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
Contact information
VEON Group
Group Communications Director
Marina Levina
Marina.levina@veon.com
TUVA P
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07 Dec 2021
