The Hindu Business Line : 3i Infotech to launch eMudhra digital signature next year

The company is eyeing tech-savvy youngsters, who file tax returns online, seek to transfer funds online, buy a credit card or apply online for a loan.

“eMudhra digital signatures are powered by public-key infrastructure technology. The digital signature ensures digital accountability for electronic transactions. It is an effective, secure and easy-to-implement method of providing accountability for enabling electronic transactions, while adhering to the important requirements of authentication, integrity, confidentiality, non-repudiation and legality,” the 3i Infotech Consumer Services Division CEO and Managing Director, Mr Ravi Jagganathan, said.

‘Z’ security product

Stating that ‘digital signature’ is a ‘z’ security product, he said it would empower Indian consumers to use technology beyond basic services and transform the way various transactions are now conducted in the country.

The company was granted the licence (in mid-October) for offering digital signatures to retail customers by the Controller of Certifying Authorities, Ministry of Communications and IT.

“Though we got the licence in October, we could not talk about digital signature to our clients as the processes were not in place. We have since put these in place and have started imparting training. The commercial launch is expected to happen during the first or second week of January,” he said.

“Digital signature is a pair of keys in a combination of bytes. While one key vests with the customer, the other is with the banker. Only when the keys sync will one get connected,” he explained, and pointed out that when one applied for a digital signature, a complete know your customer verification would be made.

The company would then give the software for download by the customer/user.

The company plans to charge an annual fee of Rs 99 for the digital signature.

Asked about the need for a digital signature, he said, ‘take, for instance, online filing of tax returns. While one can file the return online, he will still have to send a signed hard copy of the form separately. Digital signature will obviate this last mile disconnect by providing an additional security layer.”

‘Proof of concept’ model

The company would roll out the loan fulfilment application solution within the next four months, Mr Jagganathan said, adding “we are working with 12 banks on the Proof of Concept model.” The company also has plans to launch an insurance-based consumer application package by end-March. The company has drawn up marketing plans for the next four quarters.

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