Shares of Tanla Platforms surged 8% on Monday after the company signed a deal with WhatsApp, according to reports.
What Happened: Tanla Platforms said in a regulatory filing it signed a commercial agreement with a global tech major involving wisely anti-phishing platform (ATP), one of the Indian firm’s products to combat scams on the tech company's messaging platform by identifying fraudulent numbers.
Although the company didn't mention the name of the tech giant who had signed the deal due to confidentiality reasons, a top executive reportedly told the Economic Times that it was WhatsApp, which aims to use the technology to recognise fraudulent phone numbers to clamp down on scams on the platform.
Wisely ATP will reportedly gather intelligence on 10-digit numbers and malicious site addresses and will send real-time signals to WhatsApp upon the possibility of fraud.
Telecom Regulatory Authority of India in a June 2023 directive had mandated telecom companies to implement artificial intelligence or machine learning solutions to find senders of suspicious text messages.
Price Action: Shares of Tanla Platforms gained 8.87% to ₹1,037.35 on Monday afternoon.
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