eMudhra's secure online banking tool, lets users 'Sign What You See'
Bangalore,May 29, 2012: Security solutions provider and certifying authority for Digital Signature Certificates, eMudhra Consumer Services, has created a slate of solutions to help banks and financial institutions provide secure payment solutions to their customers, on, and off-line. The latest product offered by eMudhra is an online banking authentication tool which allows a user to Sign What You See (SWYS) – it allows the user’s physical authentication in an online transaction with button press and screen display. Users can read the transaction information on the screen and press the button to confirm the transaction is valid; ultimately preventing attacks from hackers. Once logged into their account, the USB-based solution called WatchKEY OCL requires the user to confirm their transactions with physical buttons and screens. The physical nature of validation eliminates the possibility of illegal ransactions being conducted without the knowledge of the actual owner. The technology is from Watchdata Technologies, a recognized pioneer in providing secure digital transaction solutions. Weighing only 35g, WatchKEY OCL is an all-in-one security solution for online transactions
In a special briefing for IndiaTechOnline, Kalaivani Chittaranjan, Executive Director and CEO of eMudhra Consumer Services explained that online frauds have also been roughly doubling every year. Recent statistics indicate that more and more security threats arise from the customer side rather than on the network and server side. Non-availability of stronger authentication techniques in India is one of the reasons for such frequent incidents of online frauds. eMudhrahas set up a R&D team to address this need and to develop suitable online authentication techniques for Indian consumers … and the recent SWYS key technology is one of the fruits of this research effort, she added.
Other eMudhra solutions include the YPayCash mobile wallet, Xygle online retail solution and Taxsmile an e-return intermediary
eMudhra Consumer Services Limited was founded in 2008. The company is headquartered in Bangalore and has a strong presence in India, US and Mauritius. eMudhra is the Fourth private certifying authority for issuing of Digital Signature Certificate in India. The company has received a Certifying Authority License from the Ministry of Information Technology in India and Mauritius, eReturn Intermidiary License from the Ministry of Finance, m-Billionth Award 2011. . https://www.emudhra.com/portal/index.aspx