When Alice wants to talk to her Bank
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To know if on the other side it is indeed the Bank.
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To ensure only she can talk to the Bank about her relationship.
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That only the Bank knows about the transaction and nobody else.
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To know if she is always in control of her transactions
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To identify if the call comes to her from the Bank it is indeed the Bank and not anybody else.
And, She wants all of the above hassle-free.
Trust is contingent on provability, provability in the digital world can be achieved by cryptography, but even the strongest cryptography needs a solid backbone of the hackproof identity model. Hence getting the identity model right is of paramount importance for building a trusted digital ecosystem.
Sanjay Deshpande (Chief Scientific Officer, Fortytwo Labs)
Information Security
Challenges
The questions asked by Alice are real and could make or break the trust between Alice and the Bank. While Banks across the globe want to solve the problem but are challenged by the need of maintaining a balance between the complexities involved, regulatory burdens, security issues, and integration of point solutions & of course business team won't let go if there is an impact on user experience.
Clutter of
Point Solutions
Implementation of point solutions for each of the security concerns develops cracks between the applications, users, functional departments, and servers.
Quantum Computing &
Advanced Threats
It's the time for sensitive government organizations to switch to cryptography and security technologies designed to protect against the odds of advanced threats.
Complex Key
Management
Key management in PKI keeps armies of IT people busy, making it an unscalable and unreliable technology for sensitive government departments.
Identity Security and Assurance
Maintaining the security of customer, vendor, and partner identity is critical to a successful digital transformation journey. The challenge remains.
Multiple Identities/
Identifiers
With the growing number of humans, apps, cloud services, IoTs, and enterprises, each of these participants have different ways to ascertain their identities, making digital security extremely difficult.
Need of embedded finance and security thereof
Embedded finance is the need of an hour for tech-savvy banks to build ecosystems. Challenge is to maintain security and compliance across ecosystem partners.
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𝛑-Control platform based solutions
Alice's and Bank's questions and challenges can be effectively addressed by taking the platform approach. 𝛑-Control is a Cryptographic Identity based digital trust platform providing a multitude of solutions for various security and compliance needs.
Quantum-Safe Cryptographic Authentication
Performs a mutual authentication between the user and Bank in the backend. What the user does not know cannot be shared.
Passwordless Authentication
Passwords themselves are points of vulnerability. Make the user experience seamless and at the same time improve the security.
Provable Consent/ Transaction Approvals
Seeks provable approvals/ consents from the user/(s) for any transactions being conducted across your digital channels.
I-AM® Multifactor Authentication
Based on the digital channel need choose from a variety of MFA including Push-notification, Soft-Token, SMS/email OTPs, and On-device biometrics.
Transaction Security
Secure your Transactions with our cutting edge technology that blends cryptography, while supporting industry standards.
CIAM and Cryptographic fabric Identity
Stich together multiple "identifiers", and unify the access for all your customers whether retail or corporate.
ERPConnect - a case of embedded Banking
Give your corporate users the flexibility to perform banking right from their ERP systems. Integrate multilevel approvals based on the need.
eSignature technology (a PKI alternative)
No need for maintaining digital certificates and costly key management. Use eSignature technology to improve compliance and non-repudiation.
Retail Banking
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Securing internet banking login
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Transaction (provable) approvals for high-value transactions
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Transaction security - Prevent Man-On-The-Machine and Man-In-The-Middle on mobile devices
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Partner Banking - federated authentication across partner channels
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Passwordless access for non-financial transactions and more...
Transaction Banking/ Corporate Banking
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ERPConnect - embedded banking solution for ERPs with fast onboarding
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API Security - secure the APIs, string authentication, and encrypt the payload and check integrity
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File security - Sign and encrypt the files before they are transmitted over the web. Agnostic to medium of sending the files
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Transaction approvals and consent based on customer specific requirements and more....
Employee and Partners
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Secure sensitive application access with zero trust access technology
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Enable sensitive application with MFA (no-code integration for AD)
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RPAs for fast instantaneous onboarding and deboarding
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Fast internal approval with provable consent technology and more...
