DIGIPASS From VASCO To Help Indian Banks Meet New RBI Directive

VASCO Data Security International, a software security company specialising in authentication products and e-signature solutions, recently showcased its technologically advanced two-factor authentication solution, DIGIPASS, for Indian Banks, which will help them comply with the latest RBI directive that makes it mandatory for banks to enable additional authentication/ validation based on information not visible on the cards and also provide customers with SMS and online alerts on every transaction over Rs 5,000 where the card is not required to be presented physically.

Dan Dica, regional director-PAC, India and Japan, VASCO Data Security International, said, “One of the fastest growing forms of Internet fraud is phishing, wherein malicious phishers try to obtain personal information such as your password or PIN code by pretending to be a legitimate entity. Incidents of phishing and frauds erode the confidence in the authenticity of banking websites and communications. Static passwords, which are currently prevalent, are easy to hack and can leave banks and their customers vulnerable to financial risks. Applications and transactions relying on static passwords are considered risky, especially for financial institutions. VASCO’s DIGIPASS is a solution that can provide a shield to cover against such malicious attempts and safeguard a bank’s customers and its reputation”.