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VASCO Data Security International has announced its plans for opening a subsidiary in Mumbai, India in an effort to gain a strong foothold in Asia. VASCO is a software security company specializing in authentication products.

The company confirmed the receipt of the official Certificate of Incorporation of VASCO Data Security (India)  at the end of Q2 2008. Staffs have been locally hired for augmenting VASCO’s growth in India especially in the banking and enterprise security markets.

It is expected that the new subsidiary will take care of sales and support in India delivering support to VASCO’s Indian customers and prospects. The Indian team will be reporting to VASCO’s regional hub in Sydney, Australia. 

VASCO always builds its business in new and large markets employing a three-step approach. VASCO aims at acquiring large customers in the banking sector in the first phase. It takes care of the enterprise security sector in its second phase focusing on its regional approach. VASCO tries to include local partners and local employees in this phase. Only in the third phase will VASCO open a local office.

“India is an important market for VASCO. The booming economy, the growth of the service sector and the highly educated workforce brings new business opportunities to VASCO. In India, VASCO already counts among its customers a number of leading banks,” remarked Jan Valcke, VASCO’s President and COO.  

“Now, we are poised on growing our market position in the Enterprise Security sector and reinforce our growth in the financial sector. We are convinced that our local presence and team will further enhance our presence in the Indian market,” added Valcke. 

VASCO located in Oakbrook Terrace in Illinois supplies authentication and e-signature solutions and services specializing in internet Security applications and transactions. Vasco has a large customer base including almost 7,100 companies situated in more than 100 countries.

The list of companies includes more than 1000 international financial institutions. The company serves prime markets like the financial sector and enterprise security besides e-commerce and e-government. The company has positioned itself as a global software company for Internet Security.