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Corporation Bank implements new security soln

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CIOL Bureau
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BANGALORE,INDIA: 3i Infotech Consumer Services Ltd. (3i CSL) today announced that Corporation Bank, has implemented its eMudhra Public Key Infrastructure (PKI) solutions to become the first ever Indian bank to implement this world class authentication security solution, provided by a licensed certifying authority under the Information Technology Act, to their corporate online banking customers.

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B R Bhat, General Manager of the Bank said in a press release, “Traditionally Corporation Bank always goes an extra mile when it comes to providing security and safe custody to customer's money. With the stupendous growth of Internet and online transactions, security is always a concern to the netizens for doing financial transactions. We are proud to announce launching of world class online banking security, to our corporate customers. This layer ensures an additional security to all online banking transactions and one can be rest assured that their online transactions are more secure. We are glad to have adopted eMudhra PKI security solution of 3i Infotech CSL to provide the most secure online banking experience to our corporate customers, to begin with.”

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“In recent times, the incidence of cyber crime is increasing across the globe and this is throwing a serious challenge to banks and their customers. All the banks are constantly improving their security platforms to protect their online banking transactions from cyber criminals. While there are number of authentication methods such as One Time Passwords, Virtual Key Board, Dual Passwords being implemented and in vogue, PKI based authentication of transaction using one’s Digital Signature Certificate is the only one that provides legal sanctity to the transaction besides providing additional security. Also this is in line with the recommendation by RBI in its Internet Banking guideline and Information Technology Act 2000”, added Bhat.

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