INKA Entworks launches security platform for digital banking services

INKA Entworks aims to extend digital security for Indian banks through its app security platform, AppSealing. The advent of the Covid-19 pandemic is largely disrupting branch banking, compelling customers to embrace digital alternatives while accelerating a ‘less-cash economy’ situation. With most people shifting to online payments alternatives, the banking sector is experiencing a significant influx of new users. Last year, premier banks like State Bank of India’s Yono app accounted for 70,000 new users every day. 

 According to Forrester, despite the push for digital services during the pandemic, most Indian banking apps still fall behind the functionality curve. With a surge in first time app users, the chances of illicit and fraudulent activities might also climb. 

James Ahn, CEO, INKA Entworks said that data security is of paramount concern in a cashless economy, with more people dependent on the smooth functioning of payments apps, it is critical to remove potential risks concerning app’s functionality and AppSealing is successfully running on AWS, bringing the necessary security aspect critical for the Indian market. 

Govindraj Basatwar,Global Business Head, INKA Entworks said, “The existing vulnerabilities in the banking sector range from authentication errors, incorrect session handling, authentication credentials, API security and more. Through AppSealing we are contributing to India’s mission of building a digital economy while securing sufficient privacy and security cues and content”.