Bangalore, August 26, 2013: Leading Indian consumer financial services player eMudhra has opened India’s first Digital Security Centre (DSC) in Bangalore. It will provide customers with a secure comprehensive solution – ‘TRUSTFACTOR’ for online banking transactions. eMudhra has partnered with IDBI and implemented Digital Signature solutions for online banking during March’2013. The Centre will focus on providing a secured process, device and digital signature certificates for online banking in line with Infomration Technology Act and guidelines of Reserve Bank of India.
Says Kalaivani Chittaranjan, MD and CEO of eMudhra Consumer Services "With greater infusion of technology, the incidents of fraud in internet banking have witnessed an increase in the recent times. With surge in electronic transactions particularly RTGS and NEFT transactions, the need to secure the transaction data between the user and Bank’s server is very essential. Digital Signature Certificates (DSC) provides this security and is emphasized by the Reserve Bank of India for high value and RTGS transactions. DSC is also the only electronic signature recognized under the Information Technology Act of India to be used in any secured electronic transactions. While PKI technology supports the security in DSCs, the process of identification and issuance is critical to ensure the right users particularly in banking transactions. eMudhra’s Digital Security Center is conceptualized to cater this aspect of the process in DSC issuance. eMudhra targets at opening 25 centers in this financial year”.
eMudhra Digital Security Centres are operated by eMudhra and will provide customers with the eMudhra Trustfactor which includes a secured verification process, Digital signature certificates and Trustfactor USB crypto tokens in a unique form factor. All the eMudhra Digital Security Centers provide for a secure environment and adhere to strict security and KYC process guidelines under the Information Technology Act. By creating a secure authentication channel to enable legally binding digital signatures for transactions, the center also has the provision to issues certifications after authentication of the customer’s KYC credentials by the bank.
eMudhra TrustFactor assures security to any online transactions for bank customers through robust technology, highly integrated processes and domain-experienced implementation. Thus, TrustFactor addresses the needs for a highly secured, legally valid authentication technology and provides banks security against any cyber fraud situations.