Ireland-based security solutions company, ValidSoft has roped in Allied CNT as its national distributor. 

ValidSoft's flagship product, VALid is a multi-factor, multi-channel authentication and transaction verification solution.

The product is targeted primarily at banking and financial services companies. Several banks provide hardware token security besides the basic password protection to their online banking customers. But since both pieces of information travel through a single band, it is vulnerable to attacks from sophisticated hackers often termed as man-in-the-middle or man-in-the-browser. In such cases, the attackers can siphon off funds without the knowledge either of the banker or of the customer when transaction takes place.

"Both parties assume that the transaction is authentic only to discover later that the money has been siphoned off. VALid provides an out-of band security layer wherein the bank (or any other company) can reach to the customer using a phone call with built-in voice authentication to verify the validity of the transaction," explains Cindy Nicholson, Managing Director, Asia Pacific, ValidSoft.

VALid is usually integrated with core banking software or any core application that requires online transactions. The customer is charged on basis of product subscription, number of users, or number of transactions, according to Nicholson.

Allied CNT plans to appoint a select few deployment partners in the country. The disty will offer them pre-sales and training support. The duo has already tied up with Allied Digital Services as its first solution provider partner.

"We are in talks with two core banking solutions companies for partnership arrangement and have already started working on some banking sector leads in India," informed Pratik Samant, Head - Sales, Allied CNT Solutions.

- Nagesh M Joshi