Quick Heal Technologies Launches India's First All-in-One Fraud Prevention Solution

Quick Heal Technologies has unveiled India's first comprehensive fraud prevention solution, aiming to enhance its consumer business. The company, a leader in cybersecurity, targets individual users amid rising financial fraud threats. Despite challenges, Quick Heal is optimistic about the product's impact on future growth.

Quick Heal Technologies Ltd, a leader in cybersecurity, has announced the launch of India's first all-in-one fraud prevention solution, aimed at driving growth in its consumer business. The new product is designed to combat the increasing threat of financial fraud targeting individual users.

The company, which is listed on the stock exchange, intends to use its prominent position in the market to promote its AntiFraud.AI solution, specifically focusing on individual computer and mobile phone users. This comes in response to significant financial losses reported by the Indian Cybercrime Coordination Centre, which estimated that Rs 1,750 crore was lost to fraudsters between January and April 2024.

According to Quick Heal Managing Director Kailash Katkar, the consumer business, which currently accounts for 62% of Quick Heal's revenue, will benefit greatly from the new product, despite some recent growth challenges. Meanwhile, the enterprise business has shown substantial growth, increasing its revenue contribution from 20% to nearly 38% over the past few years.

(With inputs from agencies.)