eMudhra partners with Watchdata
2012-02-27eMudhra and Watchdata Technologies have announced a strategic business alliance to enable the Banks with the "SWYS" Key (Sign What You See) solution which will give unmatched level of security for the online banking.
In order to develop suitable online authentication techniques for Indian consumers, eMudhra has also set up a R&D team and successfully developed SWYS Key authentication technique which is in confirmation with the standards prescribed by the Reserve Bank of India in their Information Security Guidelines and Information Technology Act.
SWYS Key displays the key data in a separate token and allows the user to validate the key data and further digitally sign the transaction to ensure that "What you See is What you Sign" and the transaction is safe. The entire solution suite will comprise of a Watchdata's WatchKEY OCL token, an authentication solution and a Digital Signature Certificate.
"eMudhra is excited about the strategic tie-up with Watchdata. Online security is a major concern in the present scenario. We are constantly working on addressing the security issues and I am sure, this tie-up with Watchdata will help us in significantly increasing the security levels in online banking. Our association with Watchdata Technologies will provide us a great platform and an opportunity to strengthen our growth and vision. This tie-up will enable us in enhancing our presence in India and Mauritius. Banking sector and online transactions are key focus areas for eMudhra and Watchdata is an established player in providing security solutions. Jointly we look forward to grow our solutions footprint across various segments in India and Mauritius," said Ravi Jagannathan, MD & CEO, eMudhra Consumer Services Limited.
Vijay Parthasarathy, Director, Watchdata Technologies Pvt. Ltd said, "We are elated to be associated with eMudhra Consumer Services Limited. Our primary aim is to reduce online frauds and assist end users in easy and secured online transactions. Recent statistics indicate that more and more security threats arise from the customer side rather than on the network and server side."
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