Fintech Apps

FSS’ Access Control Server to help card issuers curb risks, frauds

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(L to R) Hari Gopal Kashyap, Senior Development Head, FSS; V Balasubramanian, President - Transaction Processing & ATM Services, FSS; Shiv Kumar Bhasin, CTO, State Bank of India; Sanjay Chahande, Deputy Director General, UIDAI; Mrityunjay Mahapatra, Deputy Managing Director & CIO, State Bank of India; Dr K Shivaji, Chairman & Managing Director, SIDBI; Suresh Rajagopalan, President - Software Products, FSS; Vijay Kumar, Regional Head - West, Major Account Management, FSS; Satish Yadav, Market Lead, IP Routing & Optical Business Division, Nokia India; and Dr. Ravi Gupta, CEO, Elets Technomedia, launch ‘FSS Access Control Server’ at BFSI CTO Summit in Mumbai on 23rd August 2016.

(L to R) Hari Gopal Kashyap, Senior Development Head, FSS; V Balasubramanian, President – Transaction Processing & ATM Services, FSS; Shiv Kumar Bhasin, CTO, State Bank of India; Sanjay Chahande, Deputy Director General, UIDAI; Mrityunjay Mahapatra, Deputy Managing Director & CIO, State Bank of India; Dr K Shivaji, Chairman & Managing Director, SIDBI; Suresh Rajagopalan, President – Software Products, FSS; Vijay Kumar, Regional Head – West, Major Account Management, FSS; Satish Yadav, Market Lead, IP Routing & Optical Business Division, Nokia India; and Dr. Ravi Gupta, CEO, Elets Technomedia, launch ‘FSS Access Control Server’ at ‘BFSI CTO Summit’ in Mumbai on 23rd August 2016.

Payments and fintech company Financial Software and Systems (FSS) has launched “FSS Access Control Server”, a secure authentication platform that supports 3-D Secure Protocol and enables card issuers and acquiring banks to offer robust security to their customers during online transactions.

The FSS Access Control Server is a technologically offering that strengthens the existing digital security offerings and complements the line-up of end-to-end products/ services offered by the payments technology leader.

Ther Server is a VISA and MasterCard certified authentication platform, which provides a strong two-factor authentication – an additional layer of security for eCommerce and mCommerce transactions. With FSS Access Control Server, card issuers and acquiring banks can protect their customers from fraudulent usage of cards during transactions and increase both customer and merchant confidence.

With FSS Access Control Server, issuers can –

  • Enrol their customers (card holders) for 3-D secure service during the first online transaction (Activation during Shopping) or directly on the Bank website;
  • Configure BIN level business rule for each portfolio of cards (Gold/ Silver/ Platinum, etc.), as the platform provides hierarchical based user administration to meet the respective compliance requirements;
  • Prevent Fraud by authenticating payment transaction based on the user choice of methods like OTP through SMS, OTP through Email, Static Password, IVR, IPIN etc.;
  • Resolve Disputes and minimize chargebacks with the help of Authentication History;
  • Manage Risks with the support of Hardware Security Module (HSM) based data encryption and online digital signature generation; and
  • Monitor transactions real time with a comprehensive dashboard, with custom information access levels.

Commenting on the launch of FSS Access Control Server, Suresh Rajagopalan, President Software Products, FSS, said, “The growth of e-commerce has led to a substantial increase in Card relegated cyber frauds, which is becoming a huge cause for concern among the eco-system players. The success of ecommerce depends on the customer trust and this can be built only by providing best-in-class controls for data security and a safe and secure and highly available environment for transacting.

“As a fintech leader, FSS is committed to providing our customers with robust security solutions to fuel their growth and FSS Access Control Server is a result of our understanding of the current market needs. Our highly configurable and modular solution will help card issuers and acquiring banks to control and reduce frauds, transaction friction and enhance end-customer experience. FSS Access Control Server is offered both in licensed and hosted models”

FSS Access Control Server accelerates time-to-market and it supports multiple financial institutions whose data is segregated and is PA-DSS 3.1 compliant. The solution can be implemented quickly and easily as it leverages existing infrastructure and provides APIs for seamless integration with external systems.

The Financial Software and Systems (FSS) has been one of the leading players in payments technology and transaction processing, offering a diversified portfolio of software products, hosted payment services and software services built over 25 years of comprehensive experience across payments spectrum.

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