September 1, 2023

Fortifying Banking and Finance: Strengthened Data Security Through OREL Cloud

In today’s rapidly evolving digital landscape, the banking and finance industry faces a pressing need to safeguard customer data. Strict data security regulation has been put in place by the Central Bank of Sri Lanka in this regard. However, meeting different compliance directives related to data security can be a costly and time-consuming process, often requiring businesses to invest in various software and processes. The relentless onslaught of cybercrime has prompted industry leaders to turn to cloud technology as a powerful ally in the battle against data breaches, recognizing its potential to enhance data security measures.

For the banking and finance industry, the persistent threat of financial fraud necessitates proactive measures. OREL Cloud offers robust solutions to combat these threats head-on. Host Security Service (HSS) defends your Linux and Windows cloud servers from the inside out, with a suite of advanced security features including powerful brute-force protection, intrusion detection monitoring, and vulnerability fixes. You can manage all your cloud servers with one tool and detect and fix security issues quickly and easily on the HSS console. It also proactively protects apps, files, and data with a cutting-edge monitoring and assessment system to predict, prevent, detect, and respond to security threats. To top it all off, HSS runs as a lightweight agent on your server, using very little resources.

Through encryption, and secure network infrastructure, OREL Cloud effectively prevents unauthorized access to customer data and provides a shield against fraudulent transactions. With these advanced security measures in place, banks and financial institutions can fortify their data protection practices and maintain the integrity of their operations.

Commenting on this issue, Dr. Upendra Pieris, CEO of OREL IT and industry veteran for over 17 years had this to say. “Partnering with a Cloud Platform like OREL Cloud eliminates these hassles, as we have already invested significant time and resources into meeting these compliance standards. This allows our customers to benefit from a plug-and-play operation that is both cost-effective and efficient while ensuring that they remain compliant with all relevant regulations.”

Beyond security, adopting a cloud platform like OREL Cloud offers substantial cost-saving benefits. It minimizes operational disruptions and reduces expenses associated with electricity, maintenance, licensing, and human resource overheads. By strategically allocating resources, organizations can focus on their core business goals while benefiting from the economies of scale provided by the cloud. This not only enhances efficiency but also enables scalability and flexibility, empowering banks and financial institutions to adapt swiftly to changing market dynamics.

OREL IT Being Sri Lanka’s largest IT services employer and exporter, OREL IT is uniquely positioned to leverage in-house expertise and extensive market

relationships to create a world-class ecosystem of applications and services on OREL Cloud. This allows finance companies to streamline their operations, reduce costs, and increase efficiency by utilizing OREL Cloud as a one-stop-shop for all their computer, storage, disaster recovery, backup, and security needs.

OREL IT had and continues to have a proven track record of delivering innovative solutions that meet the highest industry standards, while staying ahead of the curve in a rapidly evolving technological landscape.

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