Boloro Global

Boloro Global Limited operates as a financial technology provider with a focus on fraud prevention, identity verification, and transaction validation. Headquartered in New York City, the US-based corporation, founded in 2010, extends its operations to India, parts of Africa, the Middle East, the Americas, and Europe. The company's business model centers on licensing its globally patented authentication technology to a diverse client base that includes governments, mobile network operators, banks, and merchants.

At the core of Boloro's offering is a multi-factor and multi-channel authentication system. The technology leverages two key components: the user's physical mobile phone and a memorized PIN or password. A significant feature of this system is its separation from the public internet and device operating systems for the authentication process. Instead, it utilizes the secure signaling channel of the mobile network operator, making it compatible with both smartphones and feature phones. This approach is designed to provide security against internet-based fraud, such as man-in-the-middle attacks, which can compromise systems like one-time passwords (OTPs). When a transaction or login is initiated, a flash message is sent to the user's registered mobile number, who then validates the activity by entering their secret PIN.

The service is deployed via APIs, allowing licensees to host the solution locally, which gives them control over their data and branding. In addition to security, Boloro's platform generates comprehensive settlement and reconciliation reports, which can serve as an audit trail and help individuals build a credit history, thereby promoting financial inclusion. The technology has received approval from the GSMA (Global Association of Mobile Carriers) and is patented in 84 countries, meeting regulatory standards such as Europe's Payment Services Directive (PSD2). Beyond authentication, Boloro also offers platforms for payments, e-commerce, lotteries, and gaming, including a Sharia-compliant option available for white-label licensing. Keywords: authentication technology, fraud prevention, mobile payments, identity verification, multi-factor authentication, financial inclusion, cybersecurity, secure transactions, mobile network operator security, fintech licensing, payment validation, transaction security, PIN authentication, secure signaling, API deployment, local hosting, GSMA approved, PSD2 compliant, e-commerce security, financial technology