Safety token

Font Size

Print

Feedback

Email

Discuss

Related Articles

Infosys Q1 profit up 17 pct, beats forecastInfosys Q1 profit up 17 pct, beats forecastTech Mahindra to hold 50.42 pct in SatyamIndia-targeted M&A lowest in 3 years

: Excitement at Just trade, the online investment and stock brokerage arm of Bajaj Capital, paints a contrast to the gloom and doom seen in the trading community. To counter the growing threat of hackers and phishers, the relatively new portal is now distributing digital security tokens—a time-synchronous solution that automatically changes the user’s password every 60 seconds. The new security ring, according to its deputy CEO, Vinesh Menon, will instill a confidence in online trading as “we are adding the kind of security you see in major corporates’ and banks’ IT networks.”

Just trade is not alone. Most online trading portals are busy adding security layers to draw customers in a volatile market. While Reliance Capital’s Reliance Money already offers similar security tokens, Indiabulls is also learnt to have given a nod to a similar solution. “Every top 10 online broking portal is evaluating a two-factor authentication solution and you will see many more investing in these, despite the current slowdown in the market,”confirms Amuleek Bijral, country head of RSA Security.

As online trading starts spreading its wings—about 50 lakh online account holders exist in India and National Stock Exchange averages a turnover of Rs 10,000 crore—security concerns seem to be the biggest hurdle. “Return of investment on a security implementation is a foiled breach,”explains Menon. The main concern is how effective is the IT system in validating that you really are who you say you are, before giving the rights or access to your account.