The
immense progress made in the electronic technologies,
especially in the past few years, is paving way for
innumerable opportunities in terms of expansion of
markets by the traditional financial services. However,
it also poses a challenge to the financial institutions
in terms of providing the same quality of service
across all delivery channels including the Internet.
New electronic innovations strengthen
competitive position, improve
efficacy and reduce the cost
of retail transactions both
in the national market as well
as the international market.
Security considerations are
paramount to managing the operational
risk of offering products and
services over public networks.
The primary catalyst for broad
market interest and demand for
public key encryption technology
has been fueled by the desire
to use the Internet for commercial
purposes. Both internal and
external attacks on systems
or products are an increasing
threat for financial institutions
due to which they are actively
pursuing enhanced and trustworthy
Internet security.
The Need
Security
concerns have ceaselessly been
a hurdle in the growth of Internet
banking and other financial
services offerings. E-commerce
and home banking applications,
such as paying bills on-line,
transfer of funds between accounts
or making trades of stocks and
bonds, require positive identification,
enhanced security, and verification
of both parties in the transaction.
Internet security solutions
include those that provide identification,
entitlements, verification,
privacy, and security management.
As a financial institution’s
online business continues to
grow, the transaction value
increases, and highly sensitive
information is shared online,
posing new challenges to the
Internet. Basic security is
no longer suitable for the higher
level of transactions and sensitive
information. Here comes a requirement
for Banks to adopt various solutions
for security.
The solution
iWaves
provides
high quality of trust and security services to banks
and financial institutions. Demand for home banking
and online brokerage are driving financial institutions
to revisit their infrastructure to provide such services.
iWaves
provides
solution to enable positive identification of their
clients as well as provide their customers the convenience
and the power of internet to conduct their transactions.
Data has supplanted voice as
the predominant traffic in telecommunications
networks and PKI technology
is particularly well suited
for mass deployment in a data-centric
communications environment.
High availability Network Security Solutions become
very critical for financial institutions due to the
innumerable transactions of high value taking place
on a day-to-day basis. Not surprisingly, data encryption
via cryptography technology is of high relevance.
iWaves
provides highly
secure solutions enabling banks without a performance
compromise. |
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