New Delhi, Mar 7 - Security
solutions provider eMudhra today said it has entered into a partnership with
Watchdata Technologies to offer banks key solutions to check financial frauds
in online transactions.
The strategic tie-up will address online
security issues, enabling the banking sector with Òsign what you seeÓ (SWYS)
key security solutions for their customers, the company said in a statement.
ÒWe are constantly working the security issues
and this tie-up with Watchdata will help us increase the security levels in
online banking,Ó eMudhra Managing Director and Chief Executive Ravi Jagannathan
said.
eMudhra Consumer Services Ltd is engaged in
providing the technology service to its customers to secure digital transaction
for the online banking.
Jagannathan said that the company will tap
growing digital signature market opportunities mostly in Mauritius and
African countries.
In the past few years, online transactions and
commercial activities that are being done online have increased manifold.
ÒLack of availability of adequate stronger
authentication techniques in India
is one of the reasons for such frequent incidents of online frauds,Ó
Jagannathan said.
The company has also set up a Research and
Development (R&D)team and successfully developed the SWYS key authentication
technique.
ÒWe are in confirmation
with the standards prescribed by the Reserve Bank of India in their information security
guidelines and Information Technology Act,Ó he added.
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