Odyssey Technologies: Offering Premium Authentication & Assurance Solutions to the Banking Sector
Though several proximal causes can be and are attributed to growth in digital banking, the long term growth factors have always been the rapid evolution of computing and communication technology. With the chip vendors pushing sub-nanosecond architectures and network devices already touching on 400 GBps in the data center, the digital technology juggernaut pulls in everything in its wake. Banking has been always at the leading edge of technology, it can go no-where but grow. The recent pandemic and the need for physical distancing will further accelerate this growth and Odyssey Technologies, one of the top Banking Tech Solutions providers sees this more as a short term impetus. “This growth in capacity will express itself in newer and newer forms of services like API banking, Neo banking and UPI in India and would take banking deeper into rural pockets and the agro-based and other industries there,” says B. Robert Raja, Chairman & Managing Director.Odyssey has been offering premium authentication and assurance solutions to the banking industry since 2000. The solutions have become mature and battle- hardened over the period and Odyssey has earned the trust of the industry as an innovative product vendor with quality matching or exceeding that of global vendors. Wherever the bank needs authentication or imprinting digital signatures or verifying customers' signatures, Odyssey has an exact fit solution and has been servicing over 500 banks in the Country for their digital signature and authentication needs. Extending the reach of solutions further, Odys-sey has launched a SaaS-based offering called `xorkee', a real public key frame-work that subsumes standard -based PKI, phone-based keys and other key carriage mechanisms. It is
on track to launch two other offerings, xorkeesign and xorkeeauth that ride on the xorkee service. Odyssey also offers a host of onprem solutions to the banks which can exploit the features of xorkee infra.
Banks can use Odyssey's xorkee solution not only in Internet Banking but in every application that has a bank - customer interaction surface. Odyssey with its `one key per user' based model, does not collect any personal information from the user. It offers users true mobility. None of its security parameters are tied to a particular system or network and offers an easy way for users to perform key succession smoothly whenever they change their mobile devices.
“We offer a strong authentication solution that can be deployed by the banks onprem or availed as SaaS from the cloud that will far exceed any solution prevalent now in axes of Security, user convenience and per user economics,” Robert adds.
Odyssey has stayed consistent and offers the banks a great of stability and consistency. The company intends to pursue its public key enriched solution models for the foreseeable future.
Banks can use Odyssey's xorkee solution not only in Internet Banking but in every application that has a bank - customer interaction surface. Odyssey with its `one key per user' based model, does not collect any personal information from the user. It offers users true mobility. None of its security parameters are tied to a particular system or network and offers an easy way for users to perform key succession smoothly whenever they change their mobile devices.
“We offer a strong authentication solution that can be deployed by the banks onprem or availed as SaaS from the cloud that will far exceed any solution prevalent now in axes of Security, user convenience and per user economics,” Robert adds.
The company always keeps user convenience as a primary goal in all its security architecture. Its most recent Public Key Cryptography (PKC) based security offerings lets the user manage his credential and security from the most familiar device a smartphone. This brings a major advantage of using a single key across different banks, different applications and transaction channels. This is way off from the current scenario where an average user has to contend with at least twenty passwords across banking and other services he regularly accesses. Odyssey truly offers an easy path out of this password-OTP soup.
Banks can use Odyssey's xorkee solution not only in Internet Banking but in every application that has a bank-customer interaction surface
Odyssey has stayed consistent and offers the banks a great of stability and consistency. The company intends to pursue its public key enriched solution models for the foreseeable future.
