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Updated: July 8th, 2008 05:26 PM CDT

India's Second-Largest Bank, ICICI Bank, Selects SecuGen as Biometrics Supplier

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PR Newswire
via NewsEdge Corporation

SANTA CLARA, Calif., May 15 /PRNewswire/ -- SecuGen announced that ICICI Bank (NYSE: IBN) of India has successfully deployed SecuGen's fingerprint biometric solutions for users in its Treasury operations. Working with Print Electronics, one of SecuGen's oldest partners, the bank was successful in its initial pilot and is now rolling out biometrics throughout its Treasury Department.

Brokers at ICICI Bank authenticate themselves to a computer network by scanning their fingerprints with SecuGen Hamster(TM) III fingerprint readers. The Secure Network Authentication Platform (SNAP(TM)) software compares their fingerprints with previously registered scans in the server to verify their identities. If the prints match, the brokers can login to the system to conduct their business of buying and selling stock -- more securely and more conveniently than with passwords alone.

ICICI Bank has been using the fingerprint authentication solution for four months and has already reaped the benefits of biometrics. The deputy general manager of ICICI Bank's Corporate Technology Group, Amit Sethi stated, "We are pleased to report a 50% drop in calls to our help desk for password-related support over the past quarter compared to the previous quarter. Qualitatively, security has improved, and we are one step closer to complying with Sarbanes-Oxley regulation which requires secure access to financial data, especially data that is vulnerable." ICICI Bank's senior manager, Kartik Shah, added, "We are very pleased with how well and cost-effectively this solution is working for us."

SecuGen's Value Added Reseller and partner, Print Electronics, won the contract with ICICI Bank. "The quality of SecuGen's fingerprint products is among the best in the industry, and the responsive support from the SecuGen team has been outstanding. It is hard to overstate the importance of a sensor that can withstand a great deal of punishment and still operate flawlessly. We are pleased to help our customer succeed in securing their operations at the scale and level of security needed by large financial institutions," says Manish Dalal, director of Print Electronics.

Jeff Brown, VP of Sales for SecuGen commented, "The people at Print Electronics are very skilled and technically very savvy. Add to that their knowledge of the Indian business community and you will understand why we could not succeed without partners like them."

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