Vasco Data Security to offer technology to overcome e-Banking frauds

MUMBAI: Nasdaq-listed Vasco Data Security International today said it plans expansion in India by offering latest technology to overcome e-Banking frauds.


"We are leading software security company and we are looking at expanding in India by providing our technology to Indian banks and financial institutions to protect themselves and their customers against the latest e-Banking frauds," Vasco Data Security Regional Director, Pacific, India & Japan Dan Dica said.

"Vasco has already provided security softwares to Reliance Money, State Bank of India, Standard Chartered Bank," Dica said adding that the company was in talks with leading foreign and Indian banks and financial institutions to avail the technology.

"Leading market analysts project that Asia-Pacific B2C E-Commerce, Indian B2C eCommerce sales are expected to grow tremendously in the coming years. This growth will throw open many challenges in front of the Indian banks on how to tackle the menace of online frauds and grow profitability in e-commerce operations," Dica said.

Vasco's mission is to authenticate the world by providing authentication technologies on one and unique platform. Its products can be used in unlimited verticals and secures people all over the world.

The company is now offering Digipass service, jointly developed with Intel Corporation to Indian banks and financial institutions. Digipass provides in the cloud, web-based identity and transaction security, Dica said.

VASCO has positioned itself as global software company for Internet Security serving a customer base of over 10,000 companies in more than 120 countries, including more than 1,500 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.