Akros TechLabs and Religare enter into Stategic Alliance

Religare Technova IT Services Ltd. a wholly owned subsidiary of Religare Technova Limited, today announced a strategic alliance with US based Akros TechLabs to act as a Value Added Reseller of Akros’ “CNBSignln Two Factor Authentication product in the Indian, US, European, Middle East and Asia Pacific markets.

Akros is a technology solutions company, focused on developing and marketing cutting- edge solutions for the global mobile technologies industry and has cleared for admission in Technopark TBI. CNBSignin is a patent-pending, software based Two Factor Authentication solution, as opposed to the hardware based solutions that are available in the market today. It uses a non-time based synchronization algorithm and is built using the latest Advanced Encryption Standard (AES). A software based Two Factor Authentication solution does not require dongles or hard tokens and the customers of Banks, Capital Market Companies, and other institutions can secure their online accounts just by using their mobiles.

The Companies now get the benefit of easy administration of this service by doing away with the hassles of maintaining and shipping hardware based dongies and hard tokens to their customer base. Another added advantage of this solution is that it easily integrates with the Company’s base application and eliminates the need to host separate authentication servers and the costs associated with such infrastructure.

Sanjay Padode, CEO, Religare Technova Ltd. stated, “E-Frauds are impeding the growth of e commerce, a second level authentication mechanism deployed by e-commerce providers can significantly reduce the Incidents of e-frauds thus providing the end users to transact securely in cyberspace. Religare Technova is pleased to announce its partnership with Akros and to introduce a superior and hassle free software based Two Factor Authentication solution that I am sure will enhance the security of cyberspace transactions”.

Sid Prasanna, Managing Director of Akros TechLabs commented, “We are pleased to work with Religare Technova as our exclusive partner for CNBSignin. I am confident that we will be able to capitalize on the reach and size of Religare Technova. Also, our product being a software based solution is positioned uniquely as opposed to the other hard token based solutions that are currently available. We believe our solution brings significant value to companies along with high level of cost savings.”