AGSTTL News 1

SPECIAL EDITION

T T L

2 AGSTTL News AGSTTL News 3

TABLE OF

Foreword

Company Updates

AGS Transact Technologies Limited (AGSTTL) In Media

Cover Story: Cyber Space - The new playground

Guest Speak: Andreas Suma, Vice President & Global Product Leader, Fraud/Data

Event Gallery

040607081112

CONTENTS

INDIA REMONITIZEDTHE PATH TO DIGITAL INDIA

FEATURING

SCAN THE QR CODETO WATCH THE VIDEO

4 AGSTTL News

Digital Transactions 2.0

AGS - ACI EVENT: 14TH MARCH, 2017

Marching Ahead - Armed & Prepared

FOREWORD

Dear colleagues,

Firstly, let me congratulate the team for coming up with this Special Edition. A lot has been happening internally and there is much we would like to share with you. The highlight of the previous quarter has of course been our partnership with ACI Worldwide, and this newsletter will cover everything on how it is going to shape things for our company, clients and the country at large.

We are well out of the demonitisation gloom and the start of the financial year has been promising for most. Business is picking up again, the economy is growing and new reforms will inevitably open more opportunities and growth prospects for all. In the payment space, digital as a medium witnessed a huge upsurge over the past few months, but as we predicted earlier, cash is back in action too.

Going ahead, the emerging young population will take to digital payments with full enthusiasm as the government too seems to be slowly transforming all monetary platforms into non-cash based system. Be it tax filings, license applications or peer transfers the stage is being set for everyone to participate. However, one pertinent question evades most conversations, and that is about the security feature.

In the past few years, we have been witnessing a spike in cyber frauds and 2016 revealed some gaping holes in the security framework of some leading companies. Unfortunately, cyber security is very

complex. No system is 100% safe and there is always a backdoor entry. The RBI and NPCI are doing an excellent job at ensuring precautionary measures are taken at every stage by all the parties involved in the financial network. Soon the Payments Banks by companies including NSDL, who have sought permissions, will go live. With such proactive digital adoption, the need for security features are more than ever before.

As an end-to-end payment solutions provider, we are striving to stay ahead at every step by strengthening our infrastructure and fencing the circle. The combined competence of AGSTTL & ACI Worldwide will further foster the capabilities that we can provide to the Indian FinTech market through an Op-ex model. With the help of cloud-based managed services, we can now help monitor information on a real time basis and control fraud risks in the domestic market to a large extent.

Having said, security is each person’s responsibility. We live in a world where thefts, frauds and impersonation have become a regular occurrence. This newsletter’s theme, ‘Together Towards Tomorrow’ is not just about business alliances and partnerships, but essentially about the need to safeguard each other, stick with one other and prosper together. India is at the cusp of a digital revolution and as a leading FinTech partner, it is indeed an exciting time for us.

Ravi B. GoyalChairman and Managing Director, AGS Transact Technologies Limited

6 AGSTTL News AGSTTL News 7

3. India’s leading commercial bank, Syndicate

Bank places an order of 500 Recycler MachinesAGSTTL recently received an order for its intuitive cash

recycler machine with the ability to accept 200 notes at once, thus optimising cash replenishment. Its intuitive technology

enables it to read the serial number on the note linking it with the transactions made to the person’s account.

1. AGS Transact Technologies implements end-to-end AFC System for Kochi Metro

Kochi Metro, one of the country’s most ambitious projects is now live and AGSTTL is responsible for the end-to-end management of Automatic Fare Collection (AFC) system

including Supply, Installation and Maintenance. This ticketing system uses a combination of Open Loop Smart Cards, Radio Frequency Identification Devices (RFID) and Quick Response

Codes (QR Codes) to collect fares from the users.

Company Updates

6. Thirussur based Co-operative banks place a repeat order for our ATM machines Our ATM machines that will be deployed across Irinjalakuda Town Urban Co-op Bank and Thirussur Co-op District Bank are instated with state-of-the art safety features and a highly intuitive user interface providing best-in-class cash dispensing solutions.

4. Bank of Baroda places an order of 600 Digital Signage machines AGSTTL will undertake end-to-end management of Digital Signage Systems or DSS deployed across all Bank of Baroda branches pan India. This includes Supply, Installation and Maintenance of DSS.

8. Canara Bank places an order for AGSTTL’s Note Sorting machines

AGSTTL received an order for their heavy duty Genuine Laurel K4 Note Sorting machines. These machines will be deployed across

the bank’s currency chest in Ahmedabad circle.

5. AGSTTL receives an order to

deploy 1400+ Cash Dispensers from leading banks across India

IDBI Bank, Indian Bank, Oriental Bank of Commerce and Punjab & Sindh Bank will

be deploying our bestselling cash dispensers at their branches across the country. These compact and

robust machines are known for their adaptable & intelligent safety features, and offer a flexible architecture with the

most user-friendly interface.

7. Allahabad Bank orders 800 POS (Point of Sale) machines

AGSTTL will provide end-to-end merchant acquiring solutions to Allahabad Bank and its rural merchant banks through these POS machines. This also includes Supply, Installation & Management.

India is going into mobile and digital wallets. So ACI works with a lot of banks in India to ensure safety. We are working with AGS to bring solutions to the market. We want to bring the right technology and the right expertise to the market.”- Jay Floyd, Principal Fraud Strategy Consultant, ACI Worldwide | First Post 15.05.2017

“

India could soon emerge as the country with a payments system which the rest of the world could be envious of.”- Craig Saks, COO, ACI Worldwide Economic Times 15.03.2017

“In a digitally connected world, this new system (Cryptocurrencies) can solve the challenges attached with money transfers, remittance, currency exchange and universal e-commerce.”- Mahesh Patel, President & Group CTO, AGSTTL BW Disrupt | 10.05.2017

“Our collaboration with ACI Worldwide is of great significance as it further strengthens our digital payments technology offerings and consolidates our market leadership. This data centre will play a pivotal role in enabling AGSTTL and ACI to monitor information on a real-time basis and provide our clients with an opportunity to partake into global functionalities with minimal capital investment.”- Ravi B Goyal, CMD, AGSTTL BIS Infotech | 28.03.2017

The idea (multilingual POS terminals) is to make the payment experience more user-friendly. Receiving notifications about payments, answer to customer related queries, cash backs and other such related services in local languages will be helpful in attracting new first time card users.”- ITSL Spokesperson | Mint | 04.04.2017

“Needless to say, the pop terminology is ‘Big Data’ and the future lies in these two words. Once there is familiarity and skill with Big Data, valuable insights can allow the TOP management to script new bottom and top lines.”- AGSTTL Spokesperson | ET-CFO | 15.03.2017

“Very often, in the struggle to keep up with work and social life, people tend to ignore physical fitness. This will be the best time to shift focus back to adopting a healthier lifestyle, taking up running or any physical activity. This will not only you help get physically fit but also relieve stress and help gather clear thoughts.”-Capt. Partha Samai, Sr. VP & Group Head – HR, AGSTTL | Economic Times | 05.06.2017

“We are at the cusp of digital revolution and not far behind the world and therefore equal or rather even more vulnerable to such attacks (Ransomware). It is the possibility of quantum of gains through such attacks that will drive hackers to target India, which is prevalent in European countries right now.”- Mahesh Patel, President & Group CTO, AGSTTL CXO Today | 22.05.2017

“Banks have realised that FinTech companies are not a rival, but a resource. India presents an attractive market for a FinTech and MSME alliance. As an enabler, FinTech has the potential to transform the MSME industry.”- Ravi B Goyal, CMD, AGSTTL | Business Standard | 04.05.2017

“New age payments options like virtual cards, sound waves & one-touch pay technology are also being explored to improve user convenience & encourage more people to switch from traditional style of transactions. However, a strong banking know-how & robust infrastructure will be critical for long term sustenance.”- Ravi B Goyal, CMD, AGSTTL Zee Business | 21.04.2017

“

inAGSTTL MEDIA2.

AGSTTL’s iCheque machines go live in Singapore A leading multinational bank, headquartered at Singapore

recently deployed AGSTTL’s innovative iCheque machines across its branches. iCheque is an NDC based kiosk that allows instant scanning of the cheque, captures MICR and generates receipt of the deposited cheque with its images (front/back). It also allows online credit shortly after the cheque is deposited.

8 AGSTTL News AGSTTL News 9

COVER STORY

A ccording to the US Department of Justice, ransomware attacks have quadrupled this year from a year ago, averaging

4,000 a day. When an ATM software was attacked in India last year, the catastrophic result was data theft of 3.2 million debit cards and a loss of Rs.1.3 crore(as per the NPCI), making it one of world’s largest data breach. This was closely followed by another incident when hackers almost siphoned off $170 million from a leading bank by getting past its security systems. There aren’t any official numbers out as yet, but according to a report in the Economic Times, an in-house analysis concludes that Indian companies lose around $4 billion everyday due to cyber attacks. Some of these events highlight the potential threat and damage if security systems are compromised. Such incidents can have an impact on individuals, enterprises and governments, reinstating the need for robust technologies and ultra-secure systems as we move into an evolving digital environment.

Stronger TogetherDemonitisation steered our countr y to adopt alternate payments where cash was the norm of transacting. To safeguard the interests of citizens and keep their faith in the alternate payment ecosphere, all the leading players in f intech, banking and regulator y boards have to ensure that the safest and most advanced systems are put in place. The RBI on its par t is losing its conser vative approach and ushering in a new wave of digital payment platforms. Keeping a hawk eye on the security aspect primarily, RBI has directed banks to upgrade their security infrastructure by incorporating advanced fraud prevention systems and submit audit repor ts from a CISA/DISA qualif ied auditor on an annual basis. Simultaneously, it is also keeping a close eye on the development of FinTech star tups. New regulations and controls initiated with an attempt to whittle out non -serious players, especially in the wallet space, reflects its commitment to protect consumer’s data and money.

Banks today are at a complicated space. On one hand they have to be careful while embracing innovation and new technologies, on the other hand they also have to be careful while using open Application Interfaces (API’s). However, in this digital world, it’s not just money

that banks and fintech companies have to protect, but data too. A breach on the SWIFT system of an Indian bank last year, when no money was extorted, but duplication of trade documents like letters of credit and guarantee slips reveal that misuse can be in any form.

Most Indian companies tend to keep cyber-attacks unreported and restricted to board room discussions. However, sharing information can help contain the damage or prepare other companies from similar attacks, thus forming a collective and supportive environment to fight the miscreants. Needless to say, the implications of such attacks on reputation, revenue, customer data and internal environment can be very serious. According to Cisco 2017 Annual Cybersecurity Report, over one-third of organisations that experienced a data breach in 2016 reported loss of customers, opportunity and a revenue loss of more than 20%.

AGSTTL leads the wayAGS Transact Technologies Limited (AGSTTL) has been at the forefront of payment technologies in India for over a decade, but as we move into complex products and interlinked systems, we understand the need to provide advanced security features that are on par with global standards. By collaborating with ACI Worldwide, we will be able to leverage their expertise in fraud and infrastructure management and integrate it with our end-to-end payment capabilities, making it the most advanced Risk Management technology available in the country today. These services include monitoring information at real time and cloud-based managed services for Retail, Transit, Fuel, Banking and other industries that are looking for an exceptional payments infrastructure with minimal capital investment.

Cyber criminal activities are getting more innovative and complex, sometimes very difficult for even experts to identify. As AI, Bots and other automated innovations enter the banking system, we will be at risk more than ever before. In less than a decade, plastic cards may get replaced by virtual cards and e-wallets or other new payment systems. However, as new age products will need to meet the requisites of openness, connectivity and data accessibility for consumer convenience, innovation in security will become as mandatory as innovation in products.

COVER STORY

The American election results were allegedly interfered with, while France claims

to have successfully misled Russian hacking during their recent elections. Back

home Wipro was asked to pay up 500Cr in bitcoins a few months ago, followed

by the biggest ransomware attack (Wanna Cry) we witnessed on a global scale in

May. Clearly, cyber space is the new playground where both the good and bad kids

like to amuse themselves. While the good ones are exploring new and fun ways to

involve everyone, a few rotten apples are endangering the sanctity of the space.

But to curtail such mischief and ensure no bullying continues, one needs to be

prepared and take the corrective actions at the right time.

DEMONITISATION

CRIM

E

REALITY

COMPLIANCE

DECEPTION

FRAUD

ACCOUNTING SCANDAL

EMBEZZLEMENT

CONTROLSYSTEM

TAX

EVAS

ION

ECONOMIC

PROTECTION

MONEY LAUNDERING

CYBE

R CR

IME

CRED

IT

DEMONITISATIONCR

IME

REALITYCO

MPL

IANC

E

DECEPTION

FRAUD

ACCOUNTING SCANDAL

EMBEZZLEMENT

CONTROL SYSTEM

TAX EVASION

ECONOMIC

PROTECTION

MONEY LAUNDERING

CYBE

R CR

IME

CRED

IT

DEMONITISATION

CRIM

E

REAL

ITY

COMPLIANCE

DECEPTION

ACCOUNTING SCANDALEMBEZZLEMENT

CONTROL SYSTEM

TAX EVASION

ECON

OMIC

PROTECTION

MONEY LAUNDERING

CYBER CRIME

CRED

IT

DEM

ONIT

ISAT

ION

CRIME

REALITY

COMPLIANCE

DECEPTION

FRAUD

ACCOUNTING SCANDAL

EMBE

ZZLE

MEN

T

CONT

ROL

SYST

EM

TAX EVASIONECONOMIC

PROT

ECTI

ONMONEY LAUNDERINGCY

BER

CRIM

E

CREDIT

DEM

ONIT

ISAT

ION

CRIME

REALITY

COMPLIANCE

DECEPTION

FRAUD

ACCOUNTING SCANDAL

EMBEZZLEMENT

CONTROL SYSTEM

TAX EVASIONECONOMIC

PROTECTION

MONEY LAUNDERINGCYBER CRIME

CREDIT

DEMONITISATION

CRIME

REALITYCOMPLIANCE

DECEPTION

FRAUD

ACCO

UNTI

NG S

CAND

AL

EMBE

ZZLE

MEN

T

CONTROL SYSTEM

TAX EVASION

ECONOMIC

PROTECTION

MONEY LAUNDERING

CYBER CRIME

CREDIT

DEMONITISATION

CRIME

REALITY

COMPLIANCE

DECEPTION

FRAUD

ACCOUNTING SCANDAL

EMBEZZLEMENT

CONTROL SYSTEM

TAX EVASION

ECONOMIC

PROT

ECTI

ON

MONEY LAUNDERING

CYBER CRIME

CREDIT

CYBER SPACETHE NEW PLAYGROUND

FRAU

D

!

``

AGSTTL News 11

investment-heavy CAPEX model to a specialised outsourced-service OPEX model. As the demand for outsourced services grows in the Indian landscape, this collaboration with a global industry leader enables AGSTTL to offer a ‘one-stop-shop’ platform for robust fraud management and seamless payment and transaction capabilities with nothing less than the best-in class combination of technology and human capital.

Security is a commonly-heard buzzword in the digital ecosphere, and not without a reason! Securing financial and

personal information has become the need of the hour, and the world needs industry leaders and experts to come together to battle cyber-crimes of all forms. India, as a country, has quickly emerged as an active adopter of digital payment solutions and is touted to be on par with other developed nations in the near future. In fact, in many respects India is ahead of many countries including the U. S. with respect to the adoption and use of digital wallets and other “cashless” forms of payments. As digital solutions become the norm for economic transactions, ‘security’ is one area that will also need to be embraced with equal fervour to sustain the sanctity and trust in the burgeoning alternate payment ecosystem.

The recent global “WannaCry” malware attack has been nothing less than a testimony to the rising risks associated with digital payments, transactions and interactions. Companies have woken up to the threat lurking behind the veiled web of the internet, and understood that risks, to a large extent, can be mitigated by adopting the right preventive measures, be it in technology or fraud management policies. It is with that goal that ACI Worldwide, the leaders in global payments, has partnered with AGS Transact Technologies Limited (AGSTTL), India’s leading provider of end-to-end payment solutions.

With the most robust Fraud Prevention technology available at a cost effective value, Indian banks and merchants of all sizes will now be able to access ACI’s Universal Payments capabilities including a comprehensive cloud-based managed services that integrates cross-channel payments, fraud prevention and transaction management capabilities, available on an OPEX model. Customers

Andreas SumaVice President & Global Product Leader, Fraud/Data

can benefit from value based features including holistic security, cloud managed services, flexible infrastructure, reduced Total cost of ownership (TCO) and reduced TTM (time-to-market) by upgrading the existing technology or opting for a customised solution using the bouquet of products.Based on ACI’s AOD “on demand” cloud-based services model, the products available under this alliance including UP Base24-eps, Proactive Risk Manager and CMM (Card and Merchant Management) are equipped to monitor end-to-end cross industry transactions on a real-time basis and secure data from flexible input channels like ATM, PoS, internet & mobile banking and payments transactions. With the help of such comprehensive data, one can detect anomalies or frauds in real time, enabling the risk management team to either stop a questionable transaction enroute or trace the path of fund diversion. Working on a Global Fraud Intelligence Network (G-Fin), ACI recognises that fraud patterns can often migrate from country to country and region to region, and by collaborating on a global level, it can share high-level fraud intelligence anonymously in order to fight financial crime and reduce losses. Merchants and retailers can also enjoy cloud-based real-time technology solutions which would allow them to process payments across a gamut of platforms like wallets, cards, Aadhaar enabled payments directly, instead of going through an acquiring bank. Complementing all of ACI’s industry-leading technology is a global network of seasoned fraud analysts that collectively work round-the-clock to share insights and support customers with the added touch that only a human can bring to the fight against fraud.

While requisite skill sets continue to be a challenge for many companies, one could turn to such a modern solution to offset their risk prospects and leverage the cost benefits by moving from an

GUEST SPEAK - ANDREAS SUMA

Working on a Global Fraud Intelligence Network (G-Fin), ACI recognises that fraud patterns can often migrate from country to country & region to region, and by collaborating on a global level, it can share high-level fraud intelligence anonymously in order to fight financial crime and reduce losses.

SEALING THE GAPS. SECURING THE FUTURE.

Enables detection of counterfeit notes by checking the presence of fluo fibre, infrared ink, ‘Micro perforation’ mark, intaglio printing and its magnetic features.

Genuine Trace

Genuine Cashsort2

Designed specifically to meet the demand of ‘fitness sorting’ across the bank branches, this note sorter aims to enhance productivity.

Genuine Cashsort3

A co m p a c t n o t e s o r t e r, i t c a n authenticate worn-out and poor quality banknotes and classifies the banknotes all in a single pass.

Genuine Laurel K3, K4 & K8

A part of Genuine series, these are high performance bulk note-sorters processing banknotes at a speed of 900 notes/min. Equipped with enhanced counterfeit detection, our solutions will improve efficiency and productivity in Cash-in-Transit (CIT) companies and banks.

Genuine Laurel K3, K4 & K8 are uniquely designed compact machines that enhances user friendliness by minimizing user’s burden regardless of whether the he/she is seated or standing. All the pockets including the Hopper are within easy reach, making it easy for setting Banknotes. Further, its large and clear LCD screen enables user to verify each operation and observe detailed information.

For More Details : Contact : Suyash BhattMobile : +91 9820211234E-mail : suyash.bhatt@agsindia.com

BEST-IN-CLASSCURRENCY AUTOMATION SOLUTIONSCurrency Counting and Sorting | Counterfeit Note Detection | Cost Effective Currency Management Solutions for Banks, Retail entities, Commercial and Charitable Institutions

Currency Technology Series

Ricardos Khoury, President & CEO, Novus Technologies addressing the audience on the future of Digital Transactions in India

EventGallery Stage designed for the gala event

Our esteemed guests at the event

Dignitaries from ACI Worldwide and AGS Transact Technologies Limited at the event

Craig Saks, Chief Operating Officer, ACI Worldwide & Ravi B. Goyal, CMD, AGS Transact Technologies Ltd.

Jay Floyd, Principle Fraud Consultant, ACI Worldwide with a guest

12 AGSTTL News AGSTTL News 13

From L to R: Ricardos Khoury, Ravi B Goyal and Craig Saks at the Data Processing Centre

ACI Worlwide’s team during a walkthrough at AGS House

Craig Saks, COO, ACI Worldwide inaugurating Dedicated Data Processing Centre at the AGS House, Navi Mumbai

From L to R: Ricardos Khoury, Shekhar Ganapathy, Craig Saks, Ravi B Goyal, Mahesh Patel and Kiran Goyal at the reception of AGS House

14 AGSTTL News

OUR OFFERINGS

UPFOffering staging & seamless integration, flexible &

open payment services and robust & high availability

in complex environment.

BASE24 – EPSAn enterprise-class payments solution that acquires,

authenticates, switches and authorizes financial

transactions across multiple channels. It is the next

generation of ACI’s world-class payments platform,

drawing on more than 40 years’ experience in

payments software.

Holistic Security | Cloud-based Managed Services | OPEX PricingFlexible Infrastructure | Reduced TCO | Reduced Time-to-Market

AGS-ACI ADVANTAGES

DIGITAL TRANSACTIONS 2.0

WORLD CLASSPAYMENTS FOR ALL

Mr. Trivendra Singh - trivendra.singh@agsindia.com | +91 8108 20 0560Indiabulls Finance Centre, Tower 3, S. B. Marg, Elphinstone Road (W), Mumbai – 400 013

CMM (Card & Merchant Management)A comprehensive credit, debit, smart card and

prepaid card management solution offering

end-to-end merchant account management &

settlement and operation of complex settlement

environments with a flexible system designed to

support changing business models.

PROCESSING...

PRM (Proactive Risk Manager)A comprehensive crime management solution that

uses predictive analytics and expertly defined rules to

help card issuers, merchants, acquirers and financial

institutions successfully identify and mitigate

financial fraud and money-laundering schemes.

`

`

ATM

End-to-end cross-industry secure payment transactions via Cloud-based Managed Services |

Integrated Cross-channel Payments | Fraud Prevention | Transaction Management Capabilities

TRAN

SACT

IONS

ARE

EVER

YWHE

RESO

ARE

WE

TRAN

SACT

IONS

ARE

EVER

YWHE

RESO

ARE

WE

We

at A

GS

Tran

sact

Tec

hnol

ogie

s Li

mit

ed b

lend

the

late

st in

tech

nolo

gy w

ith

our

expe

rtis

e to

pro

vide

you

with

the

mos

t sec

ured

and

inte

grat

ed se

t of p

aym

ent s

olut

ions

.

Our

ser

vice

s no

t onl

y he

lp y

ou g

row

, but

als

o gi

ve w

ings

to th

e na

tion

’s b

urge

onin

g ec

onom

y. It

is o

ur fo

cus

on in

nova

tion

and

our

pan

-Ind

ia n

etw

ork

that

hel

ps u

s st

ay

ahea

d of

the

curv

e.

ATM

& B

anki

ng S

olut

ions

| Tr

ansi

t Sol

utio

ns |

Reta

il So

lutio

ns |

Fuel

Pay

men

tsTr

ansa

ctio

n Pr

oces

sing

| Ca

sh-I

n-Tr

ansi

t Ser

vice

s | I

nter

natio

nal S

ervi

ces