Banking industry solutions provider i-Flex said on Friday it will collaborate with US-based security solutions provider Bharosa to offer banking customers with advanced security solutions for combating threats of consumer identity theft and internet fraud.
"The collaboration with Bharosa would help iFlex add real-time fraud detection and multiple forms of authentication security to its FLEXCUBE retail banking product," i-flex said in a communique to the Bombay Stock Exchange.
"It will safeguard consumers' online identity and transactions against the latest forms of online threats, including phishing, spyware, and computer bots," it said.
As part of its security strategy, i-flex would offer fraud detection and authentication capabilities from Bharosa to provide an enhanced security offering for its growing customer base as well as for customers of its outsourced offering through Financial Services Inc, it added.
"i-flex strives to deliver the world-class performance, reliability and security banks require," company' Vice President (Customer Fulfilment & Solution Architecture) George Thomas was quoted as saying in the statement.
By combining Bharosa's offering with our FLEXCUBE retail banking platform, we can enable a more robust, yet seamless protection against the most sophisticated fraud attacks, he added.
Bharosa has joined the ranks of the industries' largest security providers and is now securing over 25 million users in over 1,000 enterprises worldwide, i-flex said.
The joint solution would also enable the firms employ a range of security options to meet diverse user requirements or upgrade to higher levels of protection as without reinvesting in infrastructure.