Bank of India has decided to extend Uniken’s REL-ID Secure Platform to secure its digital and mobile banking channels globally.
The REL-ID secure platform has been developed over the years in a bid to offers the most comprehensive suite of protection, detection and correction technologies in the mobile app security/shielding space.
Recent data reported in Rajya Sabha reported 1,367 frauds in FY 2016-17, 2,127 in FY 2017-18, and 1,477 frauds in FY 2018-19 with regards to ATM/debit card, credit card and internet banking transactions. Besides, payment systems such as UPI/IMPS are most likely to register average annualised growth of over 100%, according to RBI’s 2021 vision document.
In view of this, the Reserve Bank of India (RBI) has also notified some guidelines as security and risk mitigation measures for digital payments, and Uniken’s REL-ID ensures RBI and other statutory guidelines around protecting digital banking assets with security solutions.
Bimal Gandhi, CEO, Uniken Inc says “Mobile and digital enterprises are constantly exploring options to be ahead of competition by working closely with their customers, partners and employees. Enterprises are enabling seamless access to enterprise applications over the internet and are often inhibited by security considerations of their applications and data. REL-ID is the only solution that organically combines device fingerprinting, app fingerprinting, user identity management, malware detection, multi factor authentication, secure channel and cryptographic digital signing, in a single solution.”
Commenting on the announcement, Rajesh Kumar Ram, General Manager and CIO, Bank of India said “Data security is extremely critical when it comes to financial institutions and banks. With Uniken’s world-class threat intelligence and protection solution, Bank of India has been successful in keeping a zero data-breach record and keeping up with their customers trust. Over the last ten years with Uniken, we have built a robust security around our channels in India and with their reappointment we are sure to have a tightly secured global counterparts.”
Uniken’s world-class technology has helped them spearhead the cyber security space in the country and also win accolades for its customer first omni-channel security platform.