Released on: 1, July 2009
, Author: veritytech
, Audience: Software related
Blue ID: Addresses security and authentication concerns
Bangalore, June 30, 2009: Verity Technologies, a mobile applications company with focus on Authentication and Identity Management Services, today announced a strategic alliance with Kores (India) Limited, a 76 year old highly diversified business house with all India network and market leadership in stationery and office products. Kores has relationships with most Indian Banks. The alliance paves way for Kores to distribute Verity's highly acclaimed Blue ID, a new generation technology that secures financial transactions, manage access and provides biometric identity to masses on a pan India basis.
The Blue ID Portfolio (5 variants with varying levels of security) is set to unveil a new era in the telecom and financial transactions space. Card transaction verification, online banking, session control, biometric access, rural financial inclusion and identity management are the key areas that would be revolutionized through the adoption of this technology. Blue IDs cutting edge technology has the advantage of interoperability with legacy platforms, existing technologies and standards in the financial sector including Scosta, EMV and 8353 among others. Blue ID solutions, which are fast, safe &easy to use, is controlled by users own mobile.
Commenting on the new technology, G S S Dutt, CEO, Business & Computer Systems Division, Kores (India) Limited, said The key to today's market is to give the customer what he needs and to keep it very simple. With Phone as an Authenticator, we believe the Blue ID 2 has massive potential in the immediate term as a mechanism to authenticate every transaction as stipulated by RBI that comes into force on August 1. The Portable Biometric Reader which is a part of Blue ID 5 has tremendous potential in India for financial inclusion mandates as well as Identity Tools for remote villages .
According to Goutam Chatterjee, Senior General Manager Banking & New Business Development, Kores (India) Limited, Authentication and Security are a tough sell to any financial institution or bank. The architecture of the technology which creates zero disruption in the customer's IT infrastructure is what makes the Blue ID unique. With our credibility in the banking sector, our strongnetwork of branches all over India and a strong product like Blue ID, we look forward to crafting a success story . Further, he said Sachin Paithankar, SBU Head BPO and IT, shall drive the Blue ID sales at Kores.
Highlighting customer value of the technology, Anuradha Bansal, Managing Director, Verity Technologies, said, At the lowest level of security Blue ID allows a person secure his access to an online session via username on the web coupled with a PINCODE on a mobile device. With the risk of online fraud, phishing and identity theft removed, online banking or e-commerce is made safe, easy and a mass market phenomenon. At the highest level of security Blue ID allows the person to gain Biometric Access, presence based password and total session control. Further, she pointed out, Blue IDs ultra pervasive technologies (mobile and Bluetooth) are highly versatile and cost effective. In remote villages with low internet penetration it provides a portable biometric reader with server access through mobile internet connectivity. This is expected to provide large scale implementation of social projects which are expected to operate at a staggering scale.
About Verity Technologies:
Verity Technologies is a Mobile Services Company in the domain of Authentication and Identity Services. It has historically been a provider in the Mobile Value Added Services and credited with participating in the setting up of the world's largest and most sophisticated Data Service vending mechanism at Reliance Communications, India. Telecom, Financial Services (Electronic Commerce + Plastic Money) and Entertainment are among the 3 fastest growing market segments. Verity is positioned to harness the power of the mobile medium to deliver customer value around Entertainment and Financial Services. It has access to over 200 million mobile subscribers in India through its Mobile Operator Relationships. Also its content Brand Mocazo' is the first of its kind initiative that uses the power of Social Networking. Its ongoing relationship for service offerings with leading organizations across the globe reiterates Verity's technical expertise and domain knowledge encompassing both mobile & internet technologies. For more details on Verity log on to www.veritytech.com
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