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Fino Payments Bank selects Seqrite mSuite to power its Workforce Mobility

Leverages Seqrite mSuite to empower its mobile workforce to access enterprise data and applications on the go while enabling IT teams to securely manage and control the devices

Mumbai, February 17, 2020: Seqrite, a specialist provider of endpoint security, network security, enterprise mobility management and data protection solutions, has today announced that Fino Payments Banks has selected Seqrite mSuite to securely manage its workforce mobility requirements. The deployment is aimed at empowering Fino’s workforce to access enterprise data and applications on the go while enabling the organization to securely manage and control the devices remotely.

Fino Payments Bank comes from an institution that has served the country’s banking needs for over a decade. It’s the first payments bank to go live with 410 branches and more than 25,000 banking points on day one and the only entity in its space that has experience in providing technology-enabled banking services in unbanked and underbanked areas. As part of its business model, a large number of Fino’s workforce functions remotely, accessing enterprise data and applications on the move. This made it challenging for Fino’s IT team to keep track of their devices.

Fino Payments Bank selected Seqrite mSuite after rigorously evaluating multiple products. The Seqrite product was chosen on the back of its ability to provide a centralized view of the devices and the ease of pushing applications on a real-time basis. mSuite is powered with a scalable cloud architecture that enables Fino to accommodate more users according to business requirements. The solution’s comprehensive visibility over mobile devices further empowers the bank to identify, track, and control user access to its enterprise network and data while also mapping the productivity of its workforce. In addition, it makes remote scheduling of a security scan possible for the IT team to identify risks and infections with the best-in-class anti-malware capabilities.

Speaking on the deployment, Mathew Chelliah, Deputy Vice President (Technology), Fino Payments Bank, commented, “As an innovator in our field, we constantly strive to expand the depth and quality of our service offerings and delivery. The move to create a connected, mobile workforce was aligned with this mission. Naturally, we also required an equally excellent centralized solution to securely manage, track, and control access for devices connected to Fino’s network. After a rigorous evaluation of multiple products, Seqrite’s mSuite appeared the best fit for our requirements. We are already seeing impressive results since the deployment and are confident that it will help us further optimise operations, bolster productivity, and enhance service delivery while also ensuring that our data, devices, and users remain protected from advanced threats.

Sneha Katkar, Product Manager, Enterprise Mobility Management, Seqrite said “Indian businesses are increasingly tapping dynamic workplace cultures to maximize their organizational efficiency, productivity, and profitability. Fino Payments Bank, with its mobile-led workforce, is one of the leading examples of this phenomenon. Through Seqrite’s Enterprise Mobility Management (EMM) portfolio, our aim is to enable Indian enterprises to unlock their maximum potential by optimizing their IT management capabilities. Besides these advantages, Seqrite’s deep threat intelligence and extensive security capabilities also proved to be a decisive factor for Fino's IT team. Moving ahead, we aim to keep supporting Fino Payments Bank in their digital journey and look forward to bolstering our association with them.”

About Seqrite:
Seqrite is the Enterprise Security solutions brand of Quick Heal Technologies Ltd. Launched in 2015, Seqrite solutions are defined by innovation and simplicity. A combination of intelligence, analysis of applications and state-of-the-art technology, Seqrite is designed to provide continuous and better protection for enterprise corporate customers.
Seqrite portfolio of solutions includes Endpoint Security, Enterprise Mobility Management (EMM), Unified Threat Management (UTM), Secure Web Gateway (SWG) and data protection technologies like Encryption and Data Loss Prevention (DLP). In addition, Seqrite Services provides comprehensive cybersecurity consulting services to Corporates, PSUs, Government and Law Enforcement Agencies.

For more information, please visit: https://www.seqrite.com/

About Quick Heal Technologies Limited:
Quick Heal Technologies Limited is one of the leading providers of IT Security and Data Protection Solutions with a strong footprint in India and an evolving global presence. Incorporated in the year 1995, with a registered office in Pune, it is an all-round player in cybersecurity with presence in B2B, B2G and B2C segments across multiple product categories – endpoints, network, data and mobility.

With its state-of-the-art R&D centre and deep intelligence on the threat landscape, Quick Heal helps in simplifying security by delivering the best in class protection against advanced cyber-attacks. Its portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.

For more information, please visit: https://www.quickheal.co.in/

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Quick Heal Technologies Limited announces Q3 FY20 results

PUNE, February 05, 2020: Quick Heal Technologies Limited (“Quick Heal”), one of the leading providers of IT Security & Data Protection solutions to consumers, businesses and Government, reported its reviewed and unaudited results for the quarter and nine months ended 31st December 2019.

Consolidated Financial Highlights:

Particulars (Rs. million)

9MFY19

9MFY20

YoY Change

Revenue

2,289 2,219 -3.08%

EBITDA

893 838 -6.13%

EBITDA Margin

39.00% 37.77% -123 bps

PAT

641 664 3.65%

PAT Margin

27.99% 29.93% 194 bps

Mr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “During 9M FY20, we continue to see slowdown in the market leading to severe pricing pressure. We are strengthening our team to drive the next level of growth while we continue to build innovative, value-added security solutions for our customers while delivering value to our shareholders. We are constantly improving our R&D abilities organically whilst also cautiously looking for inorganic opportunities in the cyber security space.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “Our constant focus on improving financial and operational efficiencies across the business is consistently showing positive results. We have reported improved EBITDA and PAT margins this quarter along with improved average revenue per license. We hope to drive more efficiencies from these initiatives in coming quarters as well.”

Segmental Performance for quarter ended ended 31st December 2019

  • Retail segment revenue at Rs. 1,876 million as compared to Rs. 1,924 million in the corresponding period of the previous year
    • Contributes 80% to total Revenue
  • Enterprise and Government segment revenue at Rs. 468 million as compared to Rs. 490 million in the corresponding period previous year
    • Contributes 20% to Total Revenue

Key updates for the quarter:

  • Service tax case update: The Hon’ble Customs, Excise & Service Tax Appellate Tribunal has set aside the Service Tax demand for Rs. 561 mln which was earlier confirmed by order dated 28 January, 2016 issued to Quick Heal Technologies Limited by DGCEI, New Delhi. 
  • Quick Heal leadership: Ms. Reetu Raina joined us this quarter as Chief Human Resources Officer. She will be responsible for driving HR function and steer the company’s people, operations, culture and recruitment initiatives.
  • Awards & Recognition: During this quarter, Quick Heal was recognised as the ‘Cyber Security Product Pioneer in India’ by NASSCOM’s Data Security Council of India (DSCI) at the DSCI Excellence Awards 2019.
  • Strategic Investment: Quick Heal has completed its strategic investment in L7 Defense, an Israel based cybersecurity start-up. L7 Defense specializes in Next Generation Web Application Firewall (NG-WAF) and Application Program Interface (API) Security to safeguard businesses against Botnet and Distributed Denial of Service (DDoS) attacks.

About Quick Heal Technologies Limited

Quick Heal Technologies Limited is one of the leading providers of IT Security and Data Protection Solutions with a strong footprint in India and an evolving global presence. Incorporated in the year 1995, with a registered office in Pune, it is an all-round player in cybersecurity with presence in B2B, B2G and B2C segments and multiple product categories – endpoints, network, data and mobility.

It helps in simplifying security by delivering the best in class protection against advanced cyber-threats to millions of its customers and enterprises. Quick Heal’s portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.

Safe Harbor Statement

This document may contain forward-looking statements about Quick Heal Technologies Limited, which are based on the beliefs, opinions, and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

For further details please contact

Company

Quick Heal Technologies Limited

CIN No: L72200MH1995PLC091408

Mr. Akash Gosavi

Email id: akash.gosavi@quickheal.co.in

Tel. No.: +91 020 6681 3287

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