Infosys, a global leader in consulting and technologyand Federal Bank, one of the leading private sector banks in India, today announced the successful integration and implementation of Finacle enabled Two-Factor Authentication (2FA) solution to strengthen the bank’s existing robust authentication system for its corporate and retail Internet banking customers.
Finacle from Infosys, through its strategic partnership with CA Technologies, a leader in IT management solutions including identity and access management software, has put in place a vigorous security framework. Built on CA AuthMinder™ (formerly CA Arcot WebFort®) Versatile Authentication Server and PKI soft credential, CA ArcotID®), the platform provides two-factor authentication helping organizations provide customers with robust security and a superior user experience at a low cost of ownership. The solution helps ensure mutual strong authentication between the bank and the end-user enabling an easy and transparent user login experience. This solution supports both retail and corporate Internet banking channels across multiple form factors like hardware token, software credential (CA ArcotID) and One Time Password (OTP). The solution also supports Public Key Infrastructure (PKI), dynamic passcodes which protects customers against various kinds of existing and emerging security threats such as phishing, man-in-the-middle, brute-force attacks, and replay attacks to name a few.
Mr. K P Sunny, CIO, Federal Bank said: “ Protecting our customer’s interest by investing in secure channels at Federal Bank continues to be our focus. Through our strategic partnership with Finacle we were confident our adoption of CA Technologies two-factor authentication solution would be implemented successfully and on time. Post the deployment of two-factor authentication module, we have built the capability to provide extra security to our customer’s online transactions and enhance our end user’s experience.”
Mr. Venkatramana Gosavi Associate Vice President – South Asia Finacle, Infosys said: “ Protecting a customer's identity while he is on any digital banking channel is a primary concern for banks. Identity thefts not only cause financial losses to customers, but also directly impact the bank's reputation and business. With this implementation, Finacle e-banking solution ensures seamless security as it delivers robust protection in the form of two-factor authentication. We are excited about the implementation of this solution at Federal Bank where Finacle-supported CA Technologies authentication solutions will provide a secure environment to its users worldwide”.
Mr. Raj Gopalakrishna, Vice President, Security and Innovations, CA Technologies said: “Being a leading provider of advanced authentication security solutions, we are proud that Federal Bank is among the adopters of two-factor authentication technology from Finacle eBanking in India. With our advanced authentication solutions, customers will have an optimized user e-banking experience with an increased level of security.”
About Federal Bank
Federal Bank (federalbank.co.in) is a leading Private Sector Bank with a branch network of 1008 branches and 1077 ATMs spread across the country. The Bank had total business of Rs. 86693 Crore as March 31, 2012. It had a Net Worth of Rs 5706 Crore as at the end of fiscal 2011-12. It recorded net profit of Rs. 776.79 Crore during the last financial year.
Infosys (infosys.com) partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 19 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.
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Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended September 30, 2011, December 31, 2011 and June 30, 2012.These filings are available at sec.gov Opens in a new window. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Anand Chugh, Marketing Department
The Federal Bank Limited
P: +91 484 2624632 - E: anandchugh[.]federalbank.co.in.