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Ameyo - affordable answer to OTP (One Time Password) mandate by RBI

02-15-2011 12:34 PM CET | IT, New Media & Software

Press release from: Drishti Soft Solutions

With a mandate of OTP added to other financial transactions-related regulations, merchants of e-commerce enabled businesses, banks and other financial institutions are facing a challenge of ensuring compliance. Both generation and distribution of the One Time Password requires a tight interoperability among the various underlying business applications. Ameyo provides a perfect bridge to ensure the card issuing authority is able to comply with this regulation and also able to further secure the financial transactions of their customers. The solution also works for the merchants who allow telephonic transactions to their customers like DTH helpline, Movie ticket booking via payment gateways etc. These merchants can adhere to OTP authentication mandates at highly affordable costs along with a host of business process automation features inherent to Ameyo.

As per the guidelines of Reserve Bank of India (RBI), starting from February 1, 2011 all merchants in India are required to collect an OTP (One Time Password) in addition to information written on the Credit cards for all transactions done over phone (IVR). All banks in India are required to provide OTP directly to their customers for a secure transaction over IVR. This can be done either to the card user's registered mobile number or email ID or both. This in turn requires a technology platform that integrates various communication channels like Phone, Email, SMS, Web and Fax with the CRM and database applications. Now, with Passwords being generated and sent for individual customers on request, a detailed and granular customer profile is to be maintained and fetched whenever required. Ameyo is an all-in-one solution that can very effectively manage all this and add efficiency to the overall process.

Elaborating on the solution benefits, Sachin Bhatia, VP, Business Development, Drishti-Soft says - "Complying with OTP generation, distribution and authentication is a challenge for both the banks and merchants. Ameyo is perfectly equipped to provide not just an effective but a cost effective solution to this challenge. The ability of Ameyo to seamlessly map to the business processes within no time becomes an advantage to the enterprises struggling to find the right solution to adhere to the RBI regulations as soon as possible. We've done similar deployments of Ameyo in the past that makes it all the more easy for us to extend the technology platform at lower development costs which we are able to pass on to our customers."

Drishti's Ameyo contact center software has in-built features for compliance to the customer information security-related regulations. The solution has enabled many organizations to become PCI/ DSS compliant - another mandate for e-transactions. All IVR-based financial transactions in Ameyo are encrypted. The audit traits and logs are also encrypted and not visible to even the managing IT team. Ameyo has been handling e-transactions for over 4 years now as the technology for both the service provider as well as merchant side. Having successfully served to many reputed enterprises, Ameyo is a reliable and effective solution.

About Drishti-Soft ( www.drishti-soft.com )

Drishti is an innovator in the domain of customer interactions management. Next-gen technology solutions from Drishti are powering numerous contact centers - both captive and outsourced. CIM solutions from Drishti have enabled them to dynamically manage their Business Processes. Drishti's customers enjoy significant benefits in terms of increase in efficiency levels, reduction in operational costs, flexibility to grow, consistent user experience and a demonstrable ROI.

Drishti is an innovator in the domain of customer interactions management.

Drishti Soft Solutions
62-A, sector-18, Gurgaon-122016
http://www.drishti-soft.com
pr@drishti-soft.com

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