Samsung SDS, an information solutions developer affiliated with Samsung Group, said Sunday it has inked a partnership with India’s mobile banking service giant EdgeVerve Systems.
The Korean firm said it will provide faster, easier and more secure authentication systems for EdgeVerve’s Infosys Finacle, the global No. 1 banking solutions provider with some 547 million users in 84 countries around the world.
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Samsung SDS’ authentication systems in Samsung Pay |
The solutions will be based on fingerprint scanning, facial recognition or other biometric authenticators such as voice and iris detection, an emerging area amid growing security concerns about the current password-based online banking.
The company is also a member of Fast Identify Online, or the FIDO Alliance, a global consortium seeking standardization among different authentication devices for biometric authentication.
“The partnership will allow customers to experience more convenient and safer financial services,” said Kim Ho, head of the company’s advanced mobile solutions business.
Samsung SDS, which has supplied its authentication systems to Samsung Pay, Samsung’s mobile payments systems, said the latest deal would also pave the way for it to further expand its presence in the global market.
“We want to enable banking without passwords wherein people can authenticate transactions by using flexible biometric options such as facial recognition and fingerprints,” said Andy Dey, president of EdgeVerve’s customer and operations.
“Our partnership with Samsung SDS achieves exactly this kind of frictionless banking, allowing greater customer retention, engagement and loyalty.”
By Kim Young-won (
wone0102@heraldcorp.com)
