Hyderabad: Hyderabad-based CtrlS that launched its community cloud service in 2017 has now expanded the service specifically to the banking sector. Claimed to be the world’s first tier-4 Banking Community Cloud, the service is a reliable, on-demand self-service with rapid elasticity thus enabling Banks to optimise costs while maintaining desired levels of security, compliance and efficiencies.
The Bank-in-a-Box service is specifically tailored to meet the burgeoning digital needs of the financial industry with strong underlying IT governance to ensure effective and efficient usage of banking information technology infrastructure.
For example, a bank requires around 25 or so applications (such as ATM, Credit/Debit Cards, Mobile Apps etc.) to serve their business needs, apart from core banking and regular business apps like CRM/HR. To protect these IT applications from data loss and security breaches, banks usually have more than 40 controls using over 30 security tools. To deploy and manage these applications requires engagement of a large number of vendors, SLS, and service providers, and an in-house team to manage them.
CtrlS solution helps reduce this complexity by providing all the required applications on their banking community cloud, and manages their infrastructure and applications with a single SLA.
The service is compliant with international and domestic standards, has robust security and is also compliant with the Reserve Bank of India guidelines. The company also stated that several Indian banks have subscribed to its service and are operating their banks successfully.