VASCO Data Security International, Inc., a global leader in digital solutions including identity, security and business productivity, today announced the appointment of Pinakin Dave as Managing Director for India and the SAARC region. Dave will head sales operations, channels & alliances and will continue strengthening the customer base in the region. He joined VASCO® earlier this year from Hewlett Packard Enterprise where he held the function of Country Manager Channel Sales for Technology Services.
“Pinakin is a security industry veteran and brings an outstanding track record of driving market expansion and setting up successful channel strategies for the SMB as well as the enterprise segment,” said Dan Dica, Senior Vice President Worldwide Sales. “His expertise includes deep market knowledge in a variety of verticals; the banking segment, including financial services and insurance, government and healthcare. In his role, Pinakin will continue building VASCO’s customer base across these and other focus verticals, fostering the channel ecosystem, and positioning India and SAARC as a growth market for the company.”
“Several industries in India and its subcontinent are facing a challenging digital transformation,” said Mr. Dave. “There is a clear business need to create a trusted digital experience enabling users to securely access, consult and share confidential information, sign electronically and execute critical transactions. For VASCO the opportunities in the larger Indian and SAARC region to help organizations create digital trust are multifold. VASCO’s core business of authentication, fraud risk management, secure transaction technologies and e-signature solutions will enable us to create value for the customers and strengthen the business in the region.”
According to a recent TechSci report the authentication market in India will surpass $3 billion by 2020. At the same time India has amongst the highest adoption rates in using mobile as the preferred banking channel reaching about 60-70 % of total banking transactions, reports KPMG in its Global Mobile Banking Report. KPMG warns banks that do not have clear mobile banking strategies that they might lose customers on the short-term. Indian banks need to stay ahead of trends, offering their customers a friction-free mobile banking experience, while not giving in on security. VASCO has the full suite of integrated solutions which enables financial institutions and enterprises to provide user convenience with uncompromised security.