eMudhra: Creating a Secure Digital Ecosystem

V. Srinivasan, Founder & Chairman, eMudhraV. Srinivasan, Founder & Chairman
In a digital era that is rife with cybercrime and identity theft, banks across the globe are caught between a rock and a hard place. On one end of the spectrum they have to provide seamless convenience and frictionless digital experiences to the customers; while on the other end, they have to securely and instantaneously ascertain the identity of who they are communicating with and along the way, stay on the right side of fraud as well as regulations. But, how can they manage to bring these two diagrammatically opposing factors together and stay relevant? Is there a way out of this situation?

“Yes, there is,” says V. Srinivasan, Founder and Chairman, eMudhra. “And the solution to this widespread issue lies in effective utilization of Cryptography and Public Key Infrastructure paired with a robust KYC ecosystem. eMudhra plays a pivotal role in addressing this challenging landscape through a variety of offerings aimed at making the digital transition easy,” he explains.

emCA, which is eMudhra’s flagship digital certificate issuance and management solution, can be used to issue Digital Signature Certificates (DSC) or eSignatures as per the global guidelines around electronic authentication and signing. This takes care of the problem of instant identity verification. Once identity is ascertained, the next step in progression is secure access. “And for this we have emAS,” asserts V. Srinivasan.

emAS, eMudhra’s proprietary Identity and Access Management solution, is the one of the first IAM solution in the industry to provide 15+ modes of authentication—including digital certificate, QR code, behavior, knowledge base and facial recognition based modes of authentication. No wonder, it is presently being utilized by over 45 banks around the world to carry out over 10 million transactions per day.

emAS is the first IAM solution in the industry to provide 15+ modes of authentication— including digital certificate, QR code, behavior, knowledge base and facial recognition based modes of authentication

Finally, there is emSigner, which is eMudhra’s automated signature and digital workflow management solution. “This innovative offering is eliminating the last mile hurdle of going paperless by making it possible for banks and other financial institutions to digitize workflows from start to finish. And in the process, the solution is helping these organizations save up to 80 percent on their operating costs,” explains V. Srinivasan.

The company is also betting big on Blockchain. “We have identified Blockchain as one of the areas for the future and have assigned significant amount of resources on R&D activities,” asserts V. Srinivasan. “With emBlock, we aim to bring some of the unique selling features of this technology such as transaction immutability and publicly verifiable records at lower cost to banks and other financial institutions.”

Blueprint for the Future

Within a short span of 10 years, eMudhra has grown by leaps and bounds. The company has been recognized as a member of the Cloud Signature Consortium. eMudhra also holds the Chairmanship of Asia PKI Consortium, Chairmanship of the India PKI Consortium, and is a member of the UN CEFACT body.

Going forward, the company plans for a geographic expansion and reach across multiple developing and developed markets. “To this end, the baseline ecosystem has already been set up across 38 countries,” says V. Srinivasan. “We have also recognized that consistent innovation is an essential element to fuel this expansion and we believe our new R&D initiative, eMudhra Labs, will provide just that and propel our success in the coming years,” he concludes.