Open Application Programming Interfaces (APIs) are crucial for driving digital innovation, said Ernest Cu, Globe President and CEO, during a panel at the 2024 Mobile World Congress (MWC) in Shanghai.
Moderated by GSMA Director General Mats Granryd, the session featured Cu and Dr. Hans Wijayasuriya, CEO of Telecoms Business and Group EVP at Axiata Group. The discussion centered on GSMA’s Open Gateway, which seeks to accelerate digital services through standardized APIs.
“We’ve been an advocate of open APIs for some time, although it’s not a federated group type of APIs. We started that initiative maybe even eight years ago. We had bilateral types of APIs that we made available through a subsidiary called Globe Labs. We’re a firm believer in that and a big supporter,” Cu stated.
Cu highlighted the importance of open APIs in emerging markets like the Philippines, especially for identity verification. “Our country’s National ID system is not yet complete. It’s in the works, but the challenges are immense right in that area, including fraud, scams, phishing, and many others. I think a lot of it will be solved if we’re able to provide a secure identity type of validation using the SIM,” he noted.
Globe recently signed an MOU with the GSMA to access the GSMA Open Gateway, which aims to develop Mobile Network Open APIs using a common set of open-source APIs. GSMA Open Gateway launched with eight network APIs, enhancing security, fraud prevention, authentication, and location-based services.
When asked about McKinsey’s $300 billion opportunity prediction for Open Gateway initiatives, Cu was cautiously optimistic. While unsure of the exact figure for emerging markets, he stressed the importance of monetizing telco assets like APIs for growth. Globe has successfully monetized its fintech and telco data into a fintech score, making APIs and services the next logical step.
Cu emphasized Globe’s unique position as a telecom provider and a leader in financial technology through GCash, the Philippines’ top finance superapp. This provides a wealth of information and services for development through open-source APIs.
On the topic of security, Cu warned, “A big spoiler for me would be security. Anytime you’re exposing anything that has access to a vast trove of information on the back end, it’s critical that we implement proper cybersecurity controls around the different APIs. Only one leakage will destroy it for all of us and have operators retreating from implementation or even joining the consortium.”
Cu’s insights highlight the necessity of collaboration, innovation, and security in shaping the future of digital services.
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