Now, give a missed call to authenticate yourself Mumbai, July 25: After storming the entertainment world, the concept of ‘missed’ call is set to secure your online transactions. NetCore Solutions has recently launched 2FA (second factor authentication), a software that will recognise your missed call and pave your way for entry into the Net banking facility. When a customer logs into Net banking with his password, a separate screen pops up with a landline number. One has to give a missed call from their mobile to the landline number within two minutes. NetCore software receives the missed call and matches it with the customer’s mobile number registered in the bank’s database to provide access. NetCore clientele includes Axis Bank, ICICI Bank, Kotak Bank, IDBI Bank, Standard Chartered Bank, HDFC, IndusInd Bank and Development Credit Bank. Banking regulator Reserve Bank of India recently made it mandatory for all banks to implement 2FA for all online transactions. Kalpit Jain, Chief Operating Officer, NetCore Solutions, said customers can go wrong while typing the one-time password used currently as second authentication. “Besides being cost-effective, our software provides convenience to the customer and cuts down the latency (delay) involved in receiving a password through SMS,” he added. Apart from banks, many insurance companies have also shown keen interest in adopting the missed call facility to fulfil some of their service obligations. “A customer can give a missed call from his mobile number registered with the insurance company to receive details on his policy through SMS,” he added. Global conglomerate GE (General Electric) used missed called facility of NetCore to ensure employees safety during the recent Hyderabad bomb blast. GE employees received a message asking them to give a missed call to a particular number if they were safe. About 80 per cent of GE staff responded, though it did not necessarily mean the rest were in danger, said Jain. NetCore also handled Anna Hazare’s India Against Corruption campaign by generating support through missed calls and SMS. In 180 days, it received 25 million responses from 19 million respondents. “We intend to market missed call as a solution rather than a commodity. Our overseas clients were pleasantly surprised to know how a solution can be created through a simple missed call. Maybe we have a ready-made overseas market to tap,” said Jain. Source: The Business Line
Posted on: Fri, 26 Jul 2013 11:30:36 +0000
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