eMudhra will establish three security centers in Bangalore to distribute its TrustFactor online credential directly to consumers, as it looks to address cyber fraud.
The security vendor's consumer services CEO, Kalaivani Chittaranjan, told ZDNet the centers will be located across Bangalore--in the diversely populated suburbs of Koramangala, HSR Layout, and Indira Nagar--before expanding to Mumbai and Chennai.
eMudhra verifies a customer's identity with the bank before issuing an encrypted token that can be used to securely bank transactions online. The center ensures digital signature certificates are issued to the correct online banking customer, Chittaranjan said.
"The center provides last-mile enrolment of TrustFactor by customers, assuring crime-free cyber banking," she said.
According to eMudhra, Trustfactor features include an authentication server, digital signature certificates and customized crypto-tokens. It added that the security centers can be replicated as kiosks which can be deployed at bank branches or other locations preferred by the bank.
The vendor added that the Trustfactor offering was in line with the Reserve Bank of India's mandate for banks to implement authentication based on digital signature certificates for electronic banking.
A recent Zee Research Group (ZRG) study found that cyber fraudsters stole US$9.1 million (520 million rupees) from Indians in 2012, a 44 percent increase compared to the previous year.