Tanla Platforms stock surges 10% on deal with 'global tech major' to detect, curb scams

Tanla Platforms Limited, formerly known as Tanla Solutions is one a cloud communications provider enabling businesses to communicate with their customers, stakeholders and intended recipients

Shares of Tanla Platforms skyrocketed over 10 percent on July 15 after the company informed that it has signed a commercial agreement with a global tech major on wisely ATP to combat scams on their messaging platform by identifying fraudulent phone numbers.

Under the partnership, Tanla's AI-driven anti-phishing solution Wisely ATP, which monitors 10-digit numbers and malicious URLs, will provide real-time signals to WhatsApp regarding potential fraud.

While Tanla did not share further details due to "confidentiality reasons", Media reports suggest that the deal has been signed with Meta Platforms-owned WhatsApp.

The collaborative pact will help Tanla Platforms to identify fraudulent phone numbers in an attempt to boost efforts at controlling scams over its messaging platform, reported Economic Times citing a top executive close to the companies.

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WhatsApp will take action based on this anonymized data following its own verification process. As of now, neither Tanla Platforms nor Meta has responded to ET's inquiries. According to the telecom regulator's directive dated June 13, 2023, telecom firms are required to deploy AI/ML solutions to identify sources of suspicious SMS messages.

"Given that WhatsApp is an end-to-end encrypted channel, external signals are crucial for the platform to proactively identify a scam account and take down before any user falls in the trap of fraud messages or suspicious weblinks," the source told ET.

Banking and telecommunications channels, which manage customer services for text messages and voice calls, can provide essential insights to over-the-top platforms such as WhatsApp. This collaboration aims to significantly reduce malicious activities, he added.

At 10:24 am, Tanla Platforms shares were trading 10.2 percent higher at Rs 1,050.40 on the National Stock Exchange (NSE). So far this year, the stock has fallen around 4 percent, underperforming benchmark Nifty which delivered returns of around 13 percent during this period.

In the last one year, the stock has fallen 5 percent. In comparison, benchmark Nifty rose around 27 percent during this period.

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