A well known international bank

Customer Profile :

This international bank is a global financial services provider, engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services all over the world. With a vast, international reach, it offers innovative products and services to meet the needs of its diverse base of customers and clients.

Business Challenge :

Being one of the largest player in today’s economic climate, the bank is striving to improve operational efficiency without compromising on security and customer experience while ensuring that business; legal and regulatory requirements are enforced.

Though they have modernized their IT infrastructure to make their operations more responsive to business drivers and cost efficient, they were facing problems against computer frauds. Phishing and Pharming were major concerns which occurs mainly due to weaknesses in internal control systems that facilitate unauthorized / manipulated access/inputs to core banking acpplication and inturn to client critical data.

Maintenance of security, authenticity and user friendly applications which can be accessed through WEB was a major concern and challenge for Management. Due to all such hurdles, RBI has put up guidelines to use two factor authentication for Corporate Banking. The bank was in need of a light weight, compatible, user friendly and integrated software which can digitally sign, verify, encrypt and decrypt files of any format.

Solution requirements :

1. Integrate PKI capability with its present Core banking application from Oracle
2. Capability to verify or authenticate the Users using PKI technology for two factor authentication
3. Ability for attached and detached digital signatures to authenticate Internal transactions
4. Compatibility with X509 standard digital certificates
5. Platform Compatibility
6. User friendly for the users accessing or using this PKI funtionalities
7. Verification of signed data at the server end

E-Lock Solution :

E-Lock SuperSigner SDK (Java version with Windows clients) was integrated with the bank's Corebanking application to provide the functionality required.

Benefits :

1. Implemented most secure and easy to use Two factor authentication to access the corporate banking application thus providing secure and tension free environment to its customers for doing banking transactions online
2. Comply with Reserve Bank Guide lines
3. Faster and paperless transactions which can be legally validated
4. Compatibility with X509 standard digital certificates
5. Compatible, Integrated and User friendly solution

About E-Lock :

E-Lock is a leading provider of digital signing solutions, which are compliant with worldwide e-Signature legislation. Founded in 1997 the company is headquarters in McLean, VA. It offers desktop and web based security solutions. E-Lock products are used across Government, Healthcare and Financial organizations around the globe.