India has emerged as a leading power within the digital economy landscape, with digital transformations penetrating across sectors. Containing over 800 million smartphone users, 10 million 5G devices, and over 15 lakh crores worth of digital transactions under its belt, the digital infrastructure in India is thriving. However, this advancement comes at the price of increasing cybersecurity risks, necessitating high-scale cryptography for securing all digital activities and building digital trust.
The realm of digital security continues to grapple with challenges like multiple siloed products and solutions, slow and expensive integrations, increased user-experience friction, and impending threats from quantum computing. Fortytwo Labs is addressing these challenges with an innovative and path-breaking digital trust platform powered by post-quantum cryptographic algorithms. Fortytwo Labs' π-Control Platform revolutionizes security with a holistic approach, obviating the need for key management and specialized skills to implement complex cryptography. Proven in high-stakes environments like national defense, banking, and enterprise contexts, this scalable platform unifies identity and provides all cryptographic functions, ensuring robust protection.
Specialized Digital Trust Solutions
“Recognizing that each client is unique, we avoid a one-size-fits-all approach and focus on tailoring solutions to address challenges specific to clients’ context through our customer success engineers, partner developers, or customer tech teams. We take the time to understand our clients' unique cybersecurity challenges, industry requirements, and business goals, and invest in R&D to stay ahead of emerging threats, providing clients with access to cutting-edge quantum-safe technologies. These practices ensure that our solutions align with the evolving needs of our clients”, shares Mr. Nilesh Dhande CEO of Fortytwo Labs.
Founded in 2016, Fortytwo Labs’s solutions focus on and excel in identity fabric technology, cryptographic identity, post-quantum cryptography, digital trust platform, secure digital banking, customer identity management, passwordless and multifactor authentication, API security, IoT security, zero trust application access, transaction security, data security, messaging security, provable consent, and privacy. Moreover, the firm offers tailored solutions to meet the needs of its clients perfectly.
Catering to the needs of the banking and financial sectors, defense and homeland security, and enterprises and corporate sectors, the company stands out as a reliable partner. π-CONTROL is the only platform that comprehensively addresses all five tenets of security - Identity, Authentication, Confidentiality, Non-repudiation, and Privacy - while safeguarding against current and future (quantum computing) threats, enabling users to seamlessly adopt or create solutions, and democratizing cryptography by eliminating the need for cryptographic expertise to implement it. The platform, leveraging a novel identity fabric technology, boosts the existing infrastructure for securing all kinds of identities without the need for re-engineering.
“In banking, we currently secure over 25 million identities across hundreds of applications, processing over 5,000 transactions per second for two out of the top six private sector banks. For government and defense clients, we created a ready-to-use data and messaging security solution that works over siloed networks seamlessly. Enterprise customers are enabled to use our Zero Trust Application Access technology (ZTAA) replacing their legacy, vulnerable remote access systems with the new-age ACCESS42 Solution (powered by π-CONTROL Platform) to grant the RIGHT access to the RIGHT users from the RIGHT machines to the RIGHT resources”, adds Deepankur Agrawal VP of Customer Success & Products.
Apart from the excellence of its solutions, the company further offers benefits stemming from the lower cost of operations along with ease in operating the solutions. With a record of enabling clients to meet their compliance with regulatory norms across multiple geographies, including India, Hongkong, Singapore, UK & Canada, Fortytwo Labs has further bolstered its position in the banking sector. Committed to continuous innovation, the company ensures that its solutions are ahead of all current and potential threats and aligned with the security goals of enterprises.
“We believe that imparting digital trust in the digital ecosystem/(s) is possible using high-scale cryptography. If there is digital trust, organizations experience accelerated digital transformation. That is what our foundational technologies like -CONTROL - a digital trust platform and I-AM cryptographic identity technology strive to establish. Our expertise in quantum-safe cybersecurity instills confidence in our clients regarding the protection of their critical assets. Our vision is to build a digital trust platform that can be used by enterprises and developers across the globe to build and deliver trusted digital services at scale”, adds Rajeev Chakravarthy head of strategy and alliances.
Journey So Far
Since its foundation, Fortytwo Labs has achieved immense success, recorded a staggering 100 percent year-on-year growth, and achieved zero customer churn. Driven by the mission to continually embed trust and security in every digital operation across the globe using its novel quantum-safe digital trust platform, the company has made incredible contributions to the domain and nurtured enduring relationships with clients.
“The company began with a cybersecurity challenge from the Indian defense sector and evolved into the entity it is today because of our commitment to the success of our clients. We have dedicated customer success teams that work closely with customers and partners, providing comprehensive support throughout the entire lifecycle - from implementation and integration to go-live and post-go-live support. We provide custom SLAs based on customer requirements and service support, dedicated or shared round the clock. With our comprehensive support services, we focus on building lasting relationships, becoming partners for our clients”, further adds Swaminathan Iyer Head of Strategic Initiatives.
Beyond the excellence of its solutions and continued support services, the range of specialized solutions that Fortytwo Labs offers has earned it, not only a strong rapport with leading corporate, banking, and governmental institutes, that see Fortytwo Labs as a co-innovation partner but also garnered numerous accolades for the company.
The firm has been recognized as one of the top 10 defense startups in 2022, and Defense Champion Award 2023, presented by the honorable Defense Minister. It has also served as a part of the National Center of Excellence (NCoE) for cyber security startups incubated by the Data Security Council of India (DSCI) & Ministry of Electronics & Information Technology (MeitY), GOI. In the short span since its foundation, the firm has also earned a spot as a member of the NASSCOM Deep Tech Club, won the Cybersecurity Product of the Year 2022 award by DSCI, and emerged as the NASSCOM Emerge50 League of 10 Winner.
Future Roadmap
Led by business veterans formerly from GA, Tech Mahindra, Infosys, Cipla, and armed with a robust team that brings expertise in computer science, mathematics, embedded systems, and software technology; deep domain understanding and knowledge; and a vision to transform the landscape of digital security across the world, Fortytwo Labs has ambitious goals for its future growth. The multi-pronged approach that the firm has planned focuses on expansion across the board, from product enhancements to partner expansion, community growth, and more.
The team’s strategy for product-led growth focuses on the use of the platform for building new solutions and delivering new use cases by utilizing the platform. In terms of partner-led growth, the company is enabling its partners to build and deliver solutions as well as use cases to their customers. Community-led growth, which is another vital strategy, is envisioned to focus on enabling the developer community to build and deliver new solutions and products on the platform.
The platform services roadmap has been charted out as well which aims to prioritize the crypto agility framework in order to enable enterprises to quickly migrate or change their existing cryptography into newer and safer variants. Building on BFSI solutions, enhancement of MFA bouquet, Connected Banking CIAM, Transaction Security, and provable consent remain key milestones. With this regard, the focus will also lean on zero-knowledge proof to preserve the privacy of end users for quick onboarding without sharing attribute data, as well as IoT security by leveraging quantum-safe communication.
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