Quick Heal Launches AntiFraud.AI Fraud Prevention Solution

Cybersecurity provider Quick Heal Technologies has launched a comprehensive Quick Heal internet security fraud prevention solution, aiming to drive growth in its consumer business segment, which currently contributes 62% of its revenue.

Quick Heal Antivirus Focus on Individual Users Amid Rising Financial Fraud

Quick Heal plans to leverage its market presence to promote its AntiFraud.AI product, specifically targeting individual computer and mobile phone users as financial fraud incidents rise. 

Rising Cybercrime Statistics in India

The Indian Cybercrime Coordination Centre reports that Indians lost approximately Rs 1,750 crore to fraud in the first four months of 2024, underscoring the urgent need for enhanced fraud prevention solutions.

“We are very positive about our new anti-fraud cybersecurity product targeted at individual users. This will significantly boost our consumer business in the years to come, which has been facing headwinds,” said Quick Heal MD Kailash Katkar, without providing specific growth projections.

He explained that before developing the anti-fraud solution, the Quick Heal Antivirus Security Provider focused more on its enterprise business, which has been experiencing strong double-digit growth.

“Enterprise business, which accounted for about 20 per cent of our revenue 4-5 years ago, now contributes close to 38 per cent. However, our consumer business, which has been the leader in anti-virus software for decades, currently makes up 62 per cent of our revenue but is facing challenges, growing only between 2-5 per cent,” Katkar said.

“We are currently working on developing detecting capabilities on potential fraud that extracts vital details through conversations and dialogues, where victims are convinced to follow certain instructions leading to financial losses,” said Sneha Katkar, Principal Product Manager.

Quick Heal’s consolidated revenue for the second quarter ended September 2024 stood at Rs 73.5 crore, marking a 5 per cent increase compared to the previous quarter. 

Some of the features of Quick Heal Technologies AntiFraud.AI Solution

1. Fraud Protection
Quick Heal’s AntiFraud.AI solution is designed to provide all-in-one fraud prevention, which can complement existing products like Quick Heal Antivirus Pro, Quick Heal Total Security, and Quick Heal Internet Security. This adds an additional layer of security against phishing, identity theft, and financial fraud, offering users more holistic protection.

2. Real-Time Threat Detection
AntiFraud.AI integrates with Quick Heal’s cybersecurity suite to offer real-time detection of suspicious activities, potentially preventing fraud before it impacts the user. This could be especially valuable for Quick Heal Total Security and Quick Heal Internet Security users who want enhanced safety during online transactions.

3. Interface
The AntiFraud.AI interface is designed to navigate, making it accessible for users with limited technical skills. When paired with Quick Heal Antivirus Pro, users experience a unified, intuitive interface that helps them manage various security settings efficiently.

4. Focus on Indian Market Needs  
Quick Heal’s AntiFraud.AI addresses specific risks faced by Indian users, where financial fraud cases have been increasing. Quick Heal’s localized approach reportedly can make it relevant for users concerned about domestic cybersecurity challenges.

Some of the challenges untapped by Quick Heal Antivirus -

1. Compatibility Limitations
AntiFraud.AI may require specific versions of Quick Heal products to function optimally. Users of older versions of Quick Heal Antivirus Pro, Quick Heal Total Security, or Quick Heal Internet Security may need to upgrade to access full AntiFraud.AI features.

2. Additional Subscription Cost 
While AntiFraud.AI offers advanced fraud protection, it may come as an add-on or require an additional subscription, increasing the overall cost for users who already pay for Quick Heal products like Quick Heal Total Security or Quick Heal Internet Security.

3. Resource Usage
AntiFraud.AI, when combined with other Quick Heal solutions, may increase system resource usage, potentially slowing down the device, especially on older computers. Users with limited RAM or processing power may find this a drawback.

4. Limited International Fraud Coverage 
While AntiFraud.AI is optimized for Indian users, its effectiveness against international fraud schemes may be limited. This could be a concern for users of Quick Heal Internet Security who travel frequently or engage in global online transactions.

Conclusion

Internet security provider Quick Heal is tapping the Indian consumer base by introducing the Quick Heal Antifraud.AI platform. With an increasing number of frauds that extract vital details through conversations and dialogues, where targets are lured to follow certain instructions leading to huge financial losses for them. Therefore, Quick Heal Antivirus would assist in providing real time threat protection, designing a user pro interface specifically focussing on Indian market needs.

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