Arcot Systems sets up center in B'lore

BANGALORE: Arcot Systems, provider of solutions to secure digital identities, has launched its R&D center in Bangalore. According to the company, this new facility demonstrates Arcot’s expansion commitments in India. Government of Karnataka Minister of State for IT and Tourism DB lnamdar and Director — IT Jawaid Akhtar officiated at the launch of the facility.

Arcot hopes to achieve a 100 percent growth in the coming years by augmenting the company’s R&D expertise in the country. The R&D center will create a product in the e-payments security market. The company helps curb the growth of online credit and debit card fraud across the globe.

Arcot Inc. President and CEO Ram Varadarajan said, “We are focusing the pharma and corporate banking segments.” According to him, the traffic of online transactions is predicted to touch the 500 trillion users mark by 2006 and focusing the two major segments will be the company’s first step towards capturing a major share in the e-payment security space.

He claimed to be in talks with several leading banks in India, China, North Asia Pacific and Japan. “E-Com activities are increasing in these countries and the launch of Arco’s R&D facility will be our first step to make inroads into these markets,” added Varadarajan.

(CNS)