eMudhra, a private certifying authority for issuing digital signature certificate in India, and Watchdata System Co Ltd of Singapore have come together with solutions to reduce online fraud cases and provide secured solutions.
The company has brought in Watchdata authentication that promises data integrity without reliance on the security of customer’s terminal. They have been working together for the last eight months.
According to Ravi Jagannathan, MD & CEO, eMudhra, “With online banking gaining in popularity and cybercrime growing, banks are having to take steps to protect their HNI clients who may deal with thousands of rupees at a given time.”
The solution of Watchdata that has been brought in by eMudhra consists of a token, that can be plugged into a computer via a USB drive to conduct online banking transaction.
Watchdata in India today is recognised as the largest SIM card supplier to major mobile network operators and smart cards to government, banks, financial institutions, insurance companies and transport operators with a vision to provide trustworthy computing environment for every digital transaction.
It company will start issuing digital signature certificate in Mauritius from next month. The authentication which called for ‘What You See is What You Sign’ (WYSIWYS) has become a key respect of discussion in many a fora. eMudhra, which has 35 people doing R&D with 20 based in Singapore and 15 in Bangalore, is now in advanced stages of talks with four banks, including nationalised banks.
The company had seen revenues of about Rs 12 crore in FY 2011, about Rs 15 crore in FY 2012 and this new line of business will help its revenues grow to Rs 30-35 crore this fiscal.
