Monday, March 25, 2013

IDBI Bank to accept Digital Signature for its corporate net banking customers Move to strengthen authentication procedure and enhance security

Mumbai, March 18, 2013:  IDBI Bank, a new generation PSU Bank, has partnered with eMudhra Consumer Services Ltd.(eMudhra), a licensed Certifying Authority (CA), to implement Digital Signature based authentication solution to strengthen and further secure its Corporate Inet Banking channel. IDBI Bank Corporate Inet Banking users now have the option to use a Digital Signature Certificate (DSC), procured from a Certifying Authority, to authenticate and digitally sign online transactions. IDBI Bank has taken the lead to expeditiously implement the solution following recent directives from RBI to Banks emphasizing upon digital signature enabled electronic banking transactions.

Digital Signature Certificate (DSC) is a PKI based asymmetric cryptography technology using 2048 bit advanced encryption standards. The information, which is digitally signed using a DSC, ensures authenticity, non- repudiation, confidentiality and integrity of the data transmitted.

The solution builds trust and enhances security in the electronic banking system thereby enhancing comfort and confidence of both, the customer and the Bank while undertaking Third Party Funds Transfers and Bulk Transaction uploads.

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