Aachen, Germany and Mumbai, India, November 11, 2020 – Utimaco, a leading global provider of IT security solutions, and AGS Transact Technologies Limited (AGSTTL), one of India’s leading providers of end-to-end cash and digital payment solutions & automation technology, have entered into a partnership to support organizations in providing the highest level of security to their payment and automation solutions. The partnership marks AGSTTL’s foray into cybersecurity solutions which will be offered on hosted model as well as on ‘sales’ model.
Financial services and insurance companies make particularly attractive targets for hackers and digital criminals of all types. According to the Boston Consulting Group, Banking Financial Services and Insurance industries firms are three hundred times more likely than other institutions to experience a cyberattack. The recent corona pandemic has added new dynamics to protecting data and transactions. These transformations require innovative tactics and strategies for security. Technology like cryptography and algorithmic keys create sophisticated tools to keep businesses and institutions safe from hackers. Therefore, AGSTTL and Utimaco, both long-standing and trusted solution providers in their respective industries, have now combined their expertise to help companies across sectors including banking, petroleum, retail etc. to avail these agile solutions without compromising on security.
“In this digital age, protecting sensitive information remains one of the highest priorities of organizations across sectors. Evolving security threats require the use of sophisticated advanced security solutions to safeguard all transaction activities and data. We are excited to partner with Utimaco, a recognized leader in the cyber and crypto security space worldwide. AGS Transact Technologies and Utimaco will collectively provide best-in-class defense against modern and organized cyber-attacks by equipping organizations with a comprehensive portfolio of cyber defense solutions,” said Ravi B. Goyal, Chairman & Managing Director at AGS Transact Technologies Limited.
“The banking and financial services industry has always been risk aware and we are happy to collaborate with an experienced and innovative payment solutions provider such as AGS Transact Technologies to meet the increasing demands for both agility and security in this sector,” said Stefan Auerbach, CEO at Utimaco.
Utimaco is an international provider of IT security solutions with headquarters in Aachen (Germany) and Campbell, CA (USA). Utimaco develops hardware security modules and key management solutions as well as compliance solutions for telecommunication providers in the field of regulation. Utimaco is one of the world’s leading manufacturers in both of these market segments.
Over 300 employees have committed to the company´s goal to protect people, identities and data. Customers and partners value the reliability and long-term investment security of Utimaco’s high-security products and solutions. Utimaco stands for recognized product quality, user-friendly software, excellent support and products that effectively meet market requirements. Further information is available at www.utimaco.com.
About AGS Transact Technologies Limited
Established in 2002, AGS Transact Technologies Limited (AGSTTL) is one of India’s leading providers of end-to-end cash and digital payment solutions and automation technology, offering a wide spectrum of highly customised products for the Banking, Retail, Petroleum, Toll & Transit and Colour sectors. With over 3,60,000 customer touchpoints pan India, AGSTTL’s operations span over 2,200 cities and towns. The company boasts of an impressive presence in Southeast Asian and other countries.
Our subsidiaries include Securevalue India Limited (SVIL) focused on cash management and vault services and India Transact Services Limited (ITSL), an Omni-channel merchant digital payment solutions company. With work force of more than 13,000 personnel, round-the-clock call centers and manufacturing & warehousing facility located in Daman, AGSTTL is committed to provide clear, credible and contemporary solutions to steer how India transacts.