Corporation Bank has pioneered as the first bank in India to provide world class services in net banking to corporate online clientele’ of the bank. It has incorporated eMudhra PKI solutions from 3i Infotech Consumer Services Ltd (CSL).

The basic feature which bothers customers while transacting online is that there is no face to face encounter of the transacting parties. Therefore the chances of fraud increases as any body can impersonate the other party. This is where authentication comes in need. The current authentication factor used in such transactions is only the user id and password.

Digital certificates are an advanced and more secure form of authentication which can be issued only by valid certification authorities like eMudhra from 3i Infotech Consumer Services Limited.

Commenting on the new achievement, B R Bhat, GM of the bank said, “With growth of Internet and online transactions, security is always a concern to netizens for doing financial transactions. The launching of this world-class online banking security solutions to our corporate customers adds an additional security to all online banking transactions and one can be rest assured that their online transactions are more secure.”

There are many methods of authentication like one time passwords, virtual key board, dual passwords being implemented. PKI transactions using digital certificates are however the only form of authentication which has legal sanctitiy attached to its usual feature of additional security. Thus net banking is not as unsafe as it seems.

 

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